FOR SALE: 620 INDUSTRIAL AVE NE

Summary

  • PRICE: $750,000

  • BUILDING SIZE: +/- 7,200 SF

  • PROPERTY TYPE: Industrial

  • LOT SIZE: +/- 1.135 Acres

Highlights

  • 2 drive-in doors (10'x12' & 10'x14')

  • Heavy 3-phase power

  • High warehouse ceilings (20' eaves / 22' peak)

  • Recently paved lot with secure/fenced yard

  • Great location with easy access to I-25

  • +/- 2,400 SF Office/Showroom

  • City utilities

  • Personal property and equipment are also available at an additional cost

 

Description

620 Industrial offers an investor an opportunity for a hard to find freestanding industrial building located in the heart of the North I-25 Corridor.

620 Industrial Avenue is located in the heart of the industrial center of the North I-25 submarket with easy freeway access.

SOLD - 50,000 SF Industrial Building in North I-25 Corridor

SOLD - 50,000 SF Industrial Building in North I-25 Corridor

The 50,000 square foot, Class A high-bay warehouse/distribution building developed and occupied by S & M Moving Systems has been sold at an undisclosed price to an Albuquerque-based manufacturing company. Located within the industrial section of Conejos Business Park, the building was...

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For Sale: 50,000+/- SF High-Bay Industrial Building

For Sale: 50,000+/- SF High-Bay Industrial Building

Single owner property! Class A industrial building located in the heart of Albuquerque's most desirable submarket, the North I-25 Corridor. Conveniently located immediately west if Interstate 25, and just east of the intersection of Jefferson and Osuna. Excellent owner/user opportunity priced at a fraction of replacement cost.

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SolarCity Moves to Sandia Distribution Center

SolarCity Moves to Sandia Distribution Center

One of the largest multi-tenant industrial buildings in Albuquerque is now 100% leased! The owner of the state-of-the-art, 200,000+/- square foot distribution complex located at 8000 Bluewater NW just inked a 19,000+/- square foot lease with...

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Freestanding Office/Flex Building Sells in Alameda Business Park

Freestanding Office/Flex Building Sells in Alameda Business Park

A local investment group recently sold a 6,235+/- square foot office/flex building located at 8532 Paseo Alameda NE in Alameda Business Park. The buyer, General Mailing & Shipping Systems, Inc., will be moving out of a smaller space it currently leases at Candelaria Business Center.

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Industrial Market Trends - 3rd Qtr 2014

Industrial Market Trends - 3rd Qtr 2014

Albuquerque Industrial Market Update

Compared to the previous quarter’s stellar success the third quarter managed to post more modest results. Several large moves carried the quarter and prevented it up from being flat. Vacancy dropped 70 basis points. The biggest move was done by Southern Wine & Spirits who occupied nearly 188,000 square feet of warehouse and distribution space in the North Valley. This was an expansion that more than doubled the amount of space they were leasing Downtown. 

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FDIC Sells 15,000 SF Office/Warehouse Located in Rio Rancho

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 commercial property was liquidated by the FDIC. The Ransom-With Team had the local listing assignment for the Rio Rancho commercial building.

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New Listing - 4301 The 25 Way, Suite B

Professional Office Space For Lease. Located at the main entrance to the !25 master-planned office/retail development. This is one of Albuquerque's most desirable locations for tenants. 

> Excellent visibility and signage opportunities
> Nice office finishes
> 8 private offices on the perimeter with bullpen open space and
conference rooms
> Building signage available
> Excellent parking
> Walking distance to numerous amenities, including restaurants,
banking & hotels
> New roof & stucco coming soon

SIOR New Mexico Chapter Presents at NAIOP & N-I25 Business Association Meetings

The SIOR New Mexico Chapter recently hosted its Industrial and Office Market Update at the November 25th NAIOP luncheon held at the Uptown Marriott hotel. Tim With, Jim Smith and Tom Jenkins were the presenters at this year's event. Click Here to download a copy of their powerpoint presentation.


Key Presentation Points

  1. Industrial vacancies Albuquerque-wide now are about 9%, with large variations in 
    submarkets
  2. Unemployment rates are dropping but vacancy rates are staying the same or 
    increasing
  3. Class A office space is starting to recover because lessees are trading up, while the 
    price and vacancy delta between Class A and Class B spaces is widening.
  4. There appears to be an undersupply of high quality space and newer industrial 
    space.
  5. Albuquerque's Central Business District (downtown) has the highest vacancy rate 
    in the country, although with smaller square footages than many cities.
  6. When Gap leaves downtown in late 2014, the CBD will have a 65% occupancy 
    rate unless some other tenant moves downtown.
  7. Of the top 10 real estate projects recorded in 2013, only one was new 
    construction.
  8. The negative trend of tenants moving out seems to have hit bottom.
  9. For industrial space, tenants are looking for 24-foot and higher ceiling heights, 
    high pressure (ESFR) fire suppression systems, and a trailer parking to dock 
    door ratios of 2 or 3 to 1. Most older spaces do not meet these requirements.
  10. Unknown if the move to building ownership from leasing will continue as the 
    economy strengthens.
  11. Possible that lease rates for desirable properties could be as much as 20% 
    higher.
  12. Predicting a 3 to 4% growth in rental rates annually.
  13. Infrastructure/utility limitations in some areas, particularly South I-25, could push 
    down land prices and growth in the industrial sector.
  14. The pattern of office use has changed -- no more atrium lobbies, marble entries, 
    and large executive offices.
  • Trend for office space now is high density - 500 people in a 100,000 square foot building 
    that previously housed 300.
  • Increased density has impacts for restroom facilities, HVAC capacity.
  • Of the 14.1 million square feet of office space in Albuquerque, the higher quality 
    office space is found:
    • 34% North I-25 area
    • 21% Uptown
    • 1% Downtown
  1. Why consider new development of high quality space?
    • he market currently has a limited amount of the higher quality space 
      many tenants require
    • Because other high quality spaces have been absorbed, there are fewer high quality spaces available
    • Companies looking to relocate here will require multiple space options with large floor plates.
  2. Predictions for the office sector:     
    • Office users will continue to migrate to high quality space
    • Rental gaps will increase between Class A, B, and C spaces
    • We will see redevelopment and repurposing of existing spaces
    • At least two new, substantial office buildings will be developed in the near future.