Accelerated Development partnered with Q Real Estate earlier this year to acquire a 143,557 square foot Power Center in Albuquerque, New Mexico. The project is located at the northeast corner of Interstate 40 and Eubank and is shadow anchored by Target. In the few short months the group has owned the project a complete exterior transformation is already under way.The new ownership recently brought on board seasoned real estate broker John Sedberry, Principal for Sedberry & Associates as the leasing team in for the shopping center. “The shopping center is in an established trade area in east Albuquerque with an existing shadow anchor of Target, Conn’s Appliances and Babies ‘R Us,” said Dave Cheatham, Managing Principal at Accelerated Development. “We have known John for a number of years and he is a top performer. He and his team have relationships with the key targeted tenants for this center and they are the perfect complement to our development team,” he added.“Our firm is excited about this project and are looking forward to working on a new tenant mix that will bring increased traffic to the center,” said Sedberry. “The ownership group is very involved in the refurbishment of the shopping center right down to every detail that will transform this center into an energetic shopping environment that is positive for the retailers.”
With over 100,000 square feet to lease in the shopping center, the group has an opportunity to bring an exciting mix of quality tenants to an already vibrant retail intersection. As new retailers are signed for the center, future announcements will be released.