FDIC Sells 15,000 SF Office/Warehouse Located in Rio Rancho
Rio Rancho Office / Warehouse / Showroom
Grace Outreach Center in Rio Rancho has purchased the former JC Tile building located at 1016 Rosarito Dr. SE. The approximately 15,000 square foot, retail/showroom building, situated on 1.12 acres of land, was constructed in 2008 by JC Tile. The property was developed with a $2.1 million loan for both construction and permanent financing for the project. JC Tile provided a 10 percent downpayment in a one-time close loan.
JC Tile was not operational in the building for very long. The company soon closed as it was unable to perform on the underling loan. Also, the lender holding the loan was taken over by the FDIC, and once the asset was cycled through the FDIC's process it listed the property for sale.
The Ransom-With Team partnered with Dan Feldman, who is the Senior Financial Manager based out of the Los Angeles, CA Colliers office. Dan is the managing consultant for the Colliers engagement with the FDIC. The property was listed for sale at $863,500.
- Office/Showroom includes separate display areas for different flooring media & a built-in U Shaped work area
- Constructed in 2008
- Fully sprinklered building
- Drive-in, roll-up door & exterior loading dock ramp
- 52 on-site parking spaces
- 3 roof-mounted combination heating/air units
- Improvements instructed using SABS (Saebi Alternate Building System)
- In close proximity to Southern/Unser Intersection