We are pleased to market the opportunity to invest in a 100% occupied, ± 7,503 square foot, two-building office complex located on one of Albuquerque’s busiest thoroughfares, Wyoming Blvd NE. This far northeast heights office complex enjoys an excellent occupancy history and is currently leased to five successful businesses.Read More
The Colliers International team of John Ransom, Tim With and Keith Bandoni fully-leased and sold a 9,168 square foot, freestanding office building located at 2300 Grande Blvd in Rio Rancho, across from the Intel campus. In 2005, the team sold the Rio Rancho asset and the 60,000+/- square foot office/flex complex, Albuquerque Trade Center, to the seller, Kemper Insurance.
For the first five years following construction, the 2300 Grande office building was 100% occupied by Waste Management who, upon expiration of their term, vacated the building. Our team immediately began marketing the property for sale or lease.
The Ransom/With/Bandoni team successfully leased 7,138 square feet of the building to its Santa Fe-based client, Presbyterian Medical Services, while simultaneously negotiating a purchase of the property by Dr. Steven S. Wrege, DPM. The new owner plans to owner-occupy 2,030+/- square feet of space in the building and utilize the rental income received by PMS to offset its debt service.
The building was listed for $1,100,000 ($120/SF).
- Rio Rancho Executive Plaza includes five buildings totaling 47,967 SF
- Near Intel and close to New $200+million Presbyterian Hospital
- Buildings are of southwest, Scottsdale design
The Ransom-With team has been retained as the exclusive agent to implement the sale of one of Albuquerque's premier office/flex developments, Venture Commerce Center (VCC Eagle Ranch). The offering is for five (5) newly-constructed buildings comprised of twenty (20) total units, consisting of approximately ±50,232 square feet. This master-planned development is situated on 5.08 total acres.
Built in 2008, the property is extremely well located within Albuquerque’s prominent West Mesa submarket, adjacent to the Cottonwood Mall on Eagle Ranch Road NW. Venture Commerce Center is a landmark property, representing a rare opportunity to acquire a high-quality office/flex campus with true upside potential.
- Opportunistic investment in a historically stable market
- Unique value creation opportunity priced well below replacement cost
- New inventory, mostly “Market Ready”
- Class-A office/flex buildings
- Condominium Association in place
- Constructed of steel-reinforced, raised concrete panels
- 21’ warehouse clear height with 10’ x 12’ roll up doors
- 10 units with frontage of Eagle Ranch Rd. (representing 25,843 SF)
Our Team is excited about being awarded the listing assignment for Alvarado Square, located at 415 Silver Ave SW! Since the early 1980's, the 250,000+/- rentable square foot, 8-story Downtown Albuquerque office building has been master-leased by the Public Service Company of New Mexico (PNM) for its management and administrative operations. Alvarado Square is a landmark asset, with a unique architectural design and floors that span over the historic Silver Ave. The asset is one of Albuquerque's largest, and most recognizable office properties in its Downtown CBD submarket.
The building is ideally suited for private, government and/or institutional users that require large, contiguous floor plates and access to mass transit. It is strategically located at the south end of the "D-RIDE" shuttle service, which circulates through the core of downtown, running every seven minutes from 6:30 a.m. to 6:00 p.m. Monday through Friday. Immediately east of the property is the Downtown Albuquerque Rail Runner station located in the heart of the city’s transportation network – the Alvarado Transportation Center. In addition, Albuquerque's revolutionary Rapid Ride bus service can take commuters to the University of New Mexico, Presbyterian Hospital, Old Town, and many other places directly from the Rail Runner station, including the outlying communities of Santa Fe and Belen.
In addition to PNM, other recent occupants of the building include the FBI and PNM's former gas company division, which was divested a few years ago. It is anticipated that PNM will physically vacate the building by the end of 2012, however, their lease will be in effect for a few more years, unless an investor or owner occupant presents itself and an early lease buyout is negotiated.
The owner of the asset, Hunter, Keith Industries Inc., originally won the bid to fund the construction of Alvarado Square and in return obtained a long-term lease-back from PNM for a 30-year term. The building is currently listed by the team of John Ransom, Tim With, and Keith Bandoni for $11,100,000. Please contact us at 505-880-7092 for more information on this unique opportunity.
Another sign that New Mexico's commercial real estate market is recovering is the recent uptick in investment activity seen for stabilized assets. This is evidenced by this week's sale of a 30,000 square foot industrial distribution facility, situated on 3 acres of land, that is leased long-term to...