{"id":1004111368,"date":"2015-01-21T10:10:35","date_gmt":"2015-01-21T18:10:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004111368"},"modified":"2022-11-30T16:57:24","modified_gmt":"2022-12-01T00:57:24","slug":"inland-enters-denver-market-with-retail-property-purchase","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/inland-enters-denver-market-with-retail-property-purchase\/","title":{"rendered":"Inland Enters Denver Market with Retail Property Purchase"},"content":{"rendered":"<p><em>By Anna Spiewak, Senior News Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Famous-Footwear.png\"><img decoding=\"async\" data-attachment-id=\"1004111628\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/inland-enters-denver-market-with-retail-property-purchase\/famous-footwear\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Famous-Footwear.png\" data-orig-size=\"960,640\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Famous Footwear\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Famous-Footwear.png?w=960\" loading=\"lazy\" class=\"alignright size-medium wp-image-1004111628\" alt=\"Famous Footwear\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Famous-Footwear.png\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Famous-Footwear.png 960w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Famous-Footwear.png?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Famous-Footwear.png?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/em><\/p>\n<p>Inland American Real Estate Trust knows a winning asset when it sees one&#8211;and it saw just that in Denver&#8217;s Quebec Square.<\/p>\n<p>The non-traded REIT has bought the 207, 561-square-foot shopping center in Denver for $52.25 million, it&#8217;s very first purchase in Colorado&#8217;s capital, according to Christopher Covey, senior vice president of transactions for Inland American.<\/p>\n<p>&#8220;It is the dominant necessity-based retail property in this high-barrier-to entry infill location,&#8221; Covey told <em>Commercial Property Executive<\/em>. &#8220;(The center) contains a solid national and regional tenant line-up &#8230; (it) matches our long-term strategy of investing in multi-tenant, necessity-based retail properties. We believe it is well positioned for growth.&#8221;<\/p>\n<p>Quebec Square is 97 percent occupied by tenants such as PetSmart, Ross Dress for Less, Office Depot and Party City, among others. The property is shadow-anchored by a Walmart and Sam&#8217;s Club, neither of which was acquired. The shopping center is the primary retail destination for the area at a highly-traveled intersection with a population of 100,000 within a three-mile radious, according to the news release.<\/p>\n<p>&#8220;We view this as a stepping stone to additional opportunities in the Denver MSA going forward,&#8221; Covey added.<\/p>\n<p>Inland American also owns retail assets in Greeley and Colorado Springs, Colorado.<\/p>\n<p>Lee &amp; Associates arranged the sale of Quebec Square on behalf of a private equity trust, along with \u00a0Jan Fincham and Patrick Dempsey, principals at Phoenix Lee &amp; Associates.<\/p>\n<p>As the economy in the Denver metro area continues to rise, retailers are expanding their footprints, which is improving\u00a0operations and lifting retail rents, according to a 3Q2014 \u00a0Retail Research Market Overview by Marcus &amp; Millichap.<\/p>\n<p>&#8220;In these areas, high-net-worth investors are seeking assets\u00a0near transit hubs that provide a live-work-play lifestyle. Cap rates for these deals are in the high-6 percent range,&#8221; per report.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inland American Real Estate Trust knows a winning asset when it sees one&#8211;and it saw just that in Denver&#8217;s Quebec Square.<\/p>\n","protected":false},"author":952,"featured_media":1004111628,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,13,21742,21749],"tags":[],"class_list":["post-1004111368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midwest","category-latest","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Inland Enters Denver Market with Retail Property Purchase - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/inland-enters-denver-market-with-retail-property-purchase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inland Enters Denver Market with Retail Property Purchase\" \/>\n<meta property=\"og:description\" content=\"Inland American Real Estate Trust knows a winning asset when it sees one--and it saw just that in Denver&#039;s Quebec Square.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/inland-enters-denver-market-with-retail-property-purchase\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-01-21T18:10:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T00:57:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Famous-Footwear.png\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-enters-denver-market-with-retail-property-purchase\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-enters-denver-market-with-retail-property-purchase\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"Inland Enters Denver Market with Retail Property Purchase\",\"datePublished\":\"2015-01-21T18:10:35+00:00\",\"dateModified\":\"2022-12-01T00:57:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-enters-denver-market-with-retail-property-purchase\\\/\"},\"wordCount\":311,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-enters-denver-market-with-retail-property-purchase\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/Famous-Footwear.png\",\"articleSection\":[\"Investment\",\"Midwest\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-enters-denver-market-with-retail-property-purchase\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-enters-denver-market-with-retail-property-purchase\\\/\",\"name\":\"Inland Enters Denver Market with Retail Property Purchase - 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