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Exclusive Offering

Colliers International and Barker Realty are pleased to present this opportunity to acquire an approximately 59,963 square foot, multi-tenant retail condominium property located in Santa Fe, New Mexico. Constructed in 2008, 500 Market Street (“Market Station”) is situated on a long-term land lease in the heart of Santa Fe, New Mexico’s North Railyard District, an integrated mixed-use corridor located just south of the historic Santa Fe Plaza. This offering represents a rare opportunity to acquire a unique asset consisting of three (3) condo units (1, 3, & 4) being introduced to the market for sale for the first time. The asset sale has been authorized by the U.S. Bankruptcy Court Trustee.

 

Summary

Anticipated Starting Bid: 11,500,000

Size: ±59,963 RSF

Floors: 2

Year Built: 2008

Occupancy: 51%


Plans

Features

  • Attractive, modern architecture
  • Construction: Steel frame and cast concrete with steel trusses
  • Land Lease: 50-year initial term expires September 30, 2057. Four (4) renewal options of ten (10) years each.
  • Zoning: Business Capital District (BCD”) – Mixed Use / Commercial Focus
  • Parking: 444 City owned public spaces available (404 in parking garage & 40 surface)

Highlights

  • Rare investment opportunity in historic Santa Fe Railyard District
  • Marquee anchor tenant, REI (11 years remaining on initial lease Term)
  • Prime location adjacent to the Railrunner train depot
  • The centerpiece of a 50-acre master-planned Railyard district
  • Prime location adjacent to the Railrunner train depot
  • The centerpiece of a 50-acre master-planned Railyard district

Photo Gallery


Financial Analysis

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Tenant Roster


Suite 100

 

Suite 100: REI (Recreational Equipment, Inc.)   ±28,330 SF
www.rei.com

REI is a national retail co-op specializing in gear and apparel for outdoors enthusiasts, including camping,
climbing, cycling, fitness, hiking, paddling, and travel equipment. They promote an environmental consciousness through donation, financial contribution, and volunteer work, and offer long-term benefits to keep their customers satisfied. Founded in 1938, REI has always focused on providing affordable goods to facilitate outdoor living and exploration. To further this, the co-op also offers classes and hosts educational events open to the public, as well as guided outdoor lessons targeted to both beginner and advanced audiences.


Suite 103, 104

 

 

daniella | Clothing. Jewelry. Accessories   ±1,562 SF
www. shopdaniella.com

daniella, renowned for its extensive selection of contemporary and designer clothing, shoes, and accessories, has made its mark in Santa Fe by offering a lifestyle of fashion, practicality, and individuality. Here, you’ll find well recognized clothing designers not sold elsewhere in New Mexico, including Alice + Olivia, Frame, Free City, NSF, Joie, James Perse, Rebecca Taylor, and Rag & Bone, along with jewelry, bags, shoes, and the best designer jeans you will fi d anywhere.  More than a local favorite, daniella has gained national recognition, including being named one of the best boutiques in the country on elle.com‘s “50 Favorite Boutiques“, and dubbed the go-to place to shop in New Mexico in a special edition of Lucky magazine.


Suite 105, 106

 

Go Wireless, Verizon Wireless Authorized Reseller    ±1,548 SF

https://www.gowireless.com/store/stores/new-mexico/santa-fe/santa-fe---market-station-----602166/

GoWireless is an authorized third-party Verizon reseller, specializing in cell phones, tablets, and technology accessories.  Founded in Southern California in 1995, GoWireless has continually strives to be a driving force in the wireless industry with 500 stores from coast to coast.

 
 

Site Plan

Market Station is comprised of six (6) condominium units. The subject offering consists of approximately 59,963 square feet (Units 1, 3, & 4), while the balance of the building is owned by the City of Santa Fe (Units 2 & 5) and occupied by the following city offices: the Community Services Department, the Housing and Community Development Department, the Public Works and Transportation Department. The 2-story structure is entitled by the Railyard Master Plan as a zero-lot-line development.


 

Location

Comprising a few blocks along Guadalupe Street, between Agua Fria and Paseo de Peralta, the Railyard district has been completely revitalized to include 13 acres of public space (park and outdoor performance space), a permanent indoor-outdoor home for the farmers’ market, and several notable restaurants, shops, and galleries. The Railyard is a true gathering place for Santa Fe’ s citizens and its visitors. The Santa Fe Railrunner train station is directly adjacent to the property, providing convenient access for tourists and commuters from the Albuquerque MSA.

 

Contact

QUALIFYING BROKER: David Barker
License #7466 

John Ransom, CCIM, SIOR
(505) 880-7011
john.ransom@colliers.com

Tim With, CCIM, SIOR
(505) 880-7092
tim.with@colliers.com

 

Qualifying Broker: John R. Lewinger, License #6695

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