NanoCool Leases 22,000 SF Industrial Space
Albuquerque's industrial market has experienced some positive momentum as of late, partially as a result of the repurposing of older facilities. An example of this is the recent expansion by an Albuquerque-based company, NanoCool, into a portion of the former Bag-N-Save grocery facility located at 1921 Girard SE. The building was originally built as a grocery store, but had been converted by Qwest/CenturyLink into a state-of-the-art billing center until mid 2011.
NanoCool, which launched in 2004, manufactures an innovative form of controlled temperature packaging. Their technology allows is lighter and smaller than most packages, which means big savings on freight and labor costs. NanoCool will start moving its operations into the building in late April and plans to ramp up production activities by mid-summer.
Our Team worked in conjunction with a Denver affiliate office on behalf of CenturyLink, who has a master lease on the 40,000 square foot building through mid 2016. The sublease arrangement allowed CenturyLink to dispose of some excess space while NanoCool was able to obtain an affordable location. The north half of the building remains available for sublease at a rate of $4.75 /sf, NNN.