Inland American Pays $52M for Quebec Square Shopping Center in Denver
- Jan 22, 2015
Inland American Real Estate Trust, Inc. recently announced the purchase of the Quebec Square shopping center in Denver, Colo., at a cost of $52.25 million.
Located at 7800 Smith Road in Denver, the 207,561-sq.-ft. property completed in 2002 is a primary retail destination in a highly traveled area and serves 100,000 customers within a three-mile radius. The space purchased by Inland is presently 97 percent occupied, with tenants including PetSmart, Office Depot, Ross Dress for Less, Party City, and many others. According to a news release, the property is shadow-anchored by a Walmart Super Center and Sam’s Club, which were not part of the acquisition.
“We believe Quebec Square is a dominant retail property with a solid national and regional tenant line-up, strong demographics and an ideal location trafficked by more than 65,000 vehicles per day,” explained Christopher Covey, senior vice president of transactions at Inland American. “We are pleased to add this property to our retail portfolio, as it matches our long-term strategy of investing in multi-tenant, necessity-based retail properties, and believe it is well positioned for future growth,” he added.
Click here for further market data on Denver