{"id":1004757965,"date":"2025-05-14T06:27:23","date_gmt":"2025-05-14T14:27:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004757965"},"modified":"2025-05-19T07:10:58","modified_gmt":"2025-05-19T15:10:58","slug":"denver-power-center-sells-for-57m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/denver-power-center-sells-for-57m\/","title":{"rendered":"Denver Power Center Sells for $57M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1221\" height=\"916\" data-attachment-id=\"1004757966\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/denver-power-center-sells-for-57m\/7805-e-35th-ave-denver-co-80238\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg\" data-orig-size=\"1221,916\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;5.6&quot;,&quot;credit&quot;:&quot;Rocky Mountain Photography&quot;,&quot;camera&quot;:&quot;L2D-20c&quot;,&quot;caption&quot;:&quot;default&quot;,&quot;created_timestamp&quot;:&quot;1746282090&quot;,&quot;copyright&quot;:&quot;\\ufffd 2025 Rocky Mountain Photography, all rights reserved.&quot;,&quot;focal_length&quot;:&quot;12.29&quot;,&quot;iso&quot;:&quot;1600&quot;,&quot;shutter_speed&quot;:&quot;0.000125&quot;,&quot;title&quot;:&quot;7805 E 35th Ave, Denver, CO 80238&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"7805 E 35th Ave, Denver, CO 80238\" data-image-description=\"&lt;p&gt;Quebec Square. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Quebec Square. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg\" alt=\"aerial image of Quebec Square\" class=\"wp-image-1004757966\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg 1221w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1221px) 100vw, 1221px\" \/><\/a><figcaption class=\"wp-element-caption\">Quebec Square comprises 11 buildings. <em>Image courtesy of JLL Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>ALTO Real Estate Funds has sold Quebec Square, a 207,611-square-foot retail power center in East Denver. Big Ben Private Real Estate I LP, a RRNW Group fund managed by Capital Asset Management, purchased the asset for $56.7 million.<\/p>\n\n\n\n<p>Wells Fargo Bank provided a $38.9 million loan for the transaction, according to CommercialEdge data. JLL represented the seller.<\/p>\n\n\n\n<p>ALTO had acquired the power center<a href=\"https:\/\/www.commercialsearch.com\/news\/alto-real-estate-enters-denver-with-shopping-center-buy\/\"> for $42.2 million<\/a> back in 2019, financing the purchase with a $28 million loan from Goldman Sachs, CommercialEdge also shows.<\/p>\n\n\n\n<p>Built between 2002 and 2003, Quebec Square encompasses 11 buildings spread on some 22 acres. Due to its location and tenant roster, the property has approximately 3.4 million annual visits.<\/p>\n\n\n\n<p>Shadow-anchored by Walmart, Home Depot and Sam&#8217;s Club, Quebec Square features a diverse mix of regional and national tenants such as Ross Dress for Less, Office Depot, PetSmart, Big 5 Sporting Goods, Game Stop, Famous Footwear, Five Below, Crumbl Cookies, Arby\u2019s and Domino\u2019s Pizza, among others.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/why-investors-are-hungry-for-grocery-anchored-retail\/\">Why Investors Are Hungry for Grocery-Anchored Retail<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located at 7506 E. 36th Ave., the shopping center is near the intersection of Quebec Street and Interstate 70, in an area where the daily traffic count reaches around 245,000 vehicles. The retail property serves 125,500 residents within a 3-mile radius, with the average household income of approximately $153,252, according to JLL.<\/p>\n\n\n\n<p>Managing Director Jason Schmidt and Director Austin Snedden led the JLL Capital Markets team that represented ALTO.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-mixed-bag-for-denver-s-retail-scene\">A mixed bag for Denver\u2019s retail scene<\/h2>\n\n\n\n<p>Denver&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-market-trends\/\">retail market trends<\/a> reflected mixed tendencies in the first quarter of this year.<strong>\u00a0<\/strong>Investment sales reached\u00a0$210.5 million, outpacing the<strong>\u00a0<\/strong>$166.4 million recorded in Q4 2024, according to a recent CBRE report.<\/p>\n\n\n\n<p>Meanwhile, the metro saw negative absorption and an\u00a0availability rate of 4.9 percent\u2014a\u00a010-basis-point increase\u00a0over the quarter, but a\u00a010-basis-point decrease\u00a0compared over the year. Average asking rents rose to $21.65 per square foot in Q1, marking the\u00a0highest level in the past five years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property previously traded for $42 million in 2019.<\/p>\n","protected":false},"author":3014,"featured_media":1004757966,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21783,21742,21749,15],"tags":[36728,35523,33435,32796,33215],"class_list":["post-1004757965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-investment","category-latest","category-retail","category-west","tag-alto-real-estate-funds","tag-capital-asset-management","tag-goldman-sachs","tag-jll","tag-wells-fargo-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Denver Power Center Sells for $57M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"ALTO Real Estate Funds has sold Quebec Square, a retail property in Denver, to RRNW Group&#039;s Big Ben Private Real Estate I LP.\" \/>\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\/denver-power-center-sells-for-57m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denver Power Center Sells for $57M\" \/>\n<meta property=\"og:description\" content=\"ALTO Real Estate Funds has sold Quebec Square, a retail property in Denver, to RRNW Group&#039;s Big Ben Private Real Estate I LP.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/denver-power-center-sells-for-57m\/\" \/>\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=\"2025-05-14T14:27:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-19T15:10:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1221\" \/>\n\t<meta property=\"og:image:height\" content=\"916\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-power-center-sells-for-57m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/denver-power-center-sells-for-57m\/\",\"name\":\"Denver Power Center Sells for $57M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-power-center-sells-for-57m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-power-center-sells-for-57m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg\",\"datePublished\":\"2025-05-14T14:27:23+00:00\",\"dateModified\":\"2025-05-19T15:10:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"ALTO Real Estate Funds has sold Quebec Square, a retail property in Denver, to RRNW Group's Big Ben Private Real Estate I LP.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-power-center-sells-for-57m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/denver-power-center-sells-for-57m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/denver-power-center-sells-for-57m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Quebec-square-e1747222810880.jpg\",\"width\":1221,\"height\":916,\"caption\":\"Quebec Square. 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