Quebec Square Businesses Begin Exit Strategy

Quebec-Square-ShoppingWith the addition of the Eastbridge Town Center and the Stanley Marketplace, as well as easy access to downtown with the light rail, some area businesses may begin to take a hit. And nowhere is that hit more likely to happen than Quebec Square. Inland American Real Estate Trust Inc (IARET). had recently purchased the area for $52 million. The business makeup of the community has changed drastically since then, and now the large corporation must decide what direction they are going to go with in the area retail development. “We really have two choices,” said IARET spokesperson Joel Noren. “We can do our best to compete head to head against these new look, unique retail shops and restaurants in a suburb-ish neighborhood. Or, we can continue down the same path. Which is offer things these new developments will not offer, such as check in to cash services, fast food, chain restaurants, low quality retail, etc. It’s really that simple.” Many residents were originally excited about Quebec Square being sold, but now have cooled since understanding what the new developments within Stapleton will offer. “There’s a lot going on in the community now,” said resident Greg Baird. “So, as much as I would have liked to spend time in Quebec Square if it was revamped, I’d rather just go to Stanley or Eastbridge and not fight the traffic.” Other residents agree. “It can get really messy up there, traffic-wise,” said resident Barbara Gordon. “So, unless they had some really compelling things to do, above what places within Stapleton offer, I don’t think I would go very much.” At this point, Noren seems to be leaning towards option two. “After looking at some of the things our competitors will have going on, it doesn’t seem like we can win a head to head fight. Going the other direction seems the only chance for survival.” Norn mentions they will be more aggressive in the inexpensive retail and fast food markets. “Right now, we just have a McDonalds. Why not give our customers the option of a Wendys, a Taco Bell, or a Burger King? Is one check cashing place enough? Probably not. These are the things we are looking into and pursuing.” In the meantime, several quality Quebec Square businesses are looking for new locations. One current tenant, on condition of anonymity, said, “things could devolve quickly around here. We don’t want to be the diamond in the rough, so we are looking for a new location, as are several of the businesses in the area.” For those looking for a new space, I’m sure Stanley has the room.]]>

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