John Madden Co Re-Acquires Property It Developed In '70s
John Madden Co recently closed on the purchase of the Quebec Court office building for a little more than $13M in a deal that's a little unusual—the company was the original developer of the 140k SF property at 5700 S Quebec St in Greenwood Village. John Madden Co CEO Blair Madden Bui says the company sees value in the property again, and plans to reposition it to be competitive again (the building dates from 1979 and is currently 40% occupied).
Yet competing for tenants is more than a matter of repositioning a single property. "It’s less of a question of how suburban properties can compete effectively for tenants against Downtown Denver properties and more of a question of how we can create strong connections between Denver’s centers of business to the benefit of our whole region," Blair tells us, adding that accessibility and connectedness will ultimately make Denver a more attractive market for businesses.