Colorado Real Estate Journal - March 2, 2016
Quebec Court I has a new, yet familiar, owner. John Madden Co., which developed the 140,000-square-foot building at 5700 S. Quebec St. in Greenwood Village, bought it back for $13.1 million. It plans to reinvent the Class B property, which features a three-story grand atrium, approximately 40,000-sf floor plates and a parking ratio of 5:1,000 sf. “By adding Quebec Court back into the John Madden Co. portfolio, we’re able to reconnect with a building John Madden built and reinvigorate it for a new generation of tenants,” said Blair Madden Bui, John Madden Co. CEO. “This purchase is also about sustainability in the sense that it’s important to us that John Madden Co.’s properties add lasting value to the surrounding community and to the commercial tenants who call it home. This purchase puts us back in control of that future.” As part of the upgrades for Quebec Court, John Madden Co. will add a 1,500-kilowatt generator and new HVAC, and white-box space for tenants. The building was constructed in 1979 and was 30 percent occupied at the time of the sale. Tenants include U.S. Nursing and Haynes Mechanical Engineering. The three-story building is within walking distance of shops and restaurants at The Landmark, as well as the Orchard light-rail station and Greenwood Athletic Club. It offers open interiors with views of the Front Range mountains as well as collaborative meeting space open to the community. The adjacent parking garage was part of the sale. “In my mind, John Madden Co. will be reinventing the building it originally developed into one that exceeds the desires of the modern office building users through an extremely efficient floor plate with marvelous mountain views and extensive areas for employee collaboration and enjoyment,” said Robert Whittelsey, principal at Colliers International. “Natural daylight, redundant power and a new HVAC system will add to the well being and productivity of building occupants as well as enhance the ability of corporations to meet their business goals to the benefit of their balance sheet,” said Whittelsey, who will handle leasing. Baxter Fain of JLL represented John Madden Co in the transaction. Andy Klein of Westside Property Investment Co. represented the seller.