SANTA FE, N.M. — A joint venture between Presidium and Argosy Real Estate Partners has opened Presidium Casa Siena, a 160,000-square-foot multifamily property at 5750 Airport Road in Santa Fe. The community features 171 studio, one- and two-bedroom apartments, ranging from 565 square feet to 1,201 square feet, with energy-efficient stainless steel appliances, walk-in showers, garden tubs and upscale finishes. Residences will also offer full-size washers/dryers, under-cabinet lighting, keyless entry doors and built-in USB ports. Community amenities include a club room with coworking and conference spaces; a fitness center; exhibition kitchen and game rooms; a heated, resort-style pool surrounded by grilling and kitchen spaces and two cave lounges within private courtyards; a private dog park with pet spa; mail and package pickup rooms; surface-level parking; electric-vehicle charging stations and carports. The project team includes Humphreys & Partners, Isaacson & Arfman and Pavilion Construction. This is the first joint venture between Presidium and Argosy Real Estate Partners.
New Mexico
Faris Lee Investments Brokers $12.9M Sale of Zecca Plaza Retail Asset in Gallup, New Mexico
by Amy Works
GALLUP, N.M. — Faris Lee Investments has arranged the sale of Zecca Plaza, a retail property located in Gallup, a small city near the Arizona border approximately 150 miles west of Albuquerque. The asset traded for $12.9 million, or $126 per square foot. Situated on 6.3 acres, Zecca Plaza offers 110,593 square feet of retail space. Current tenants include Albertsons, Goodwill, O’Reilly Auto Parts and Aaron Rents. Don MacLellan and Chris DePierro of Faris Lee Investments represented the undisclosed seller and undisclosed buyer in the transaction.
JLL Arranges Refinancing for 220-Unit Seniors Housing Property in Rio Rancho, New Mexico
by Amy Works
RIO RANCHO, N.M. — JLL Capital Markets has arranged a refinancing for Fairwinds Rio Rancho, a three-story, 220-unit independent living and assisted living community located in Rio Rancho, a suburb north of Albuquerque. JLL represented the borrower, Lytle Enterprises, and secured the five-year, fixed-rate loan through a life insurance company. The amount of the loan was not disclosed. Fairwinds Rio Rancho totals 211,213 square feet. It was built in 1997 and renovated in 2019. Alanna Ellis, Jay Wagner, Aaron Rosenzweig and Alex Sheaffer led the JLL team.
Blueprint Arranges Sale of 50-Bed Transitional Care Community in Las Cruces, New Mexico
by Amy Works
LAS CRUCES, N.M. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 50-bed transitional care facility in Las Cruces, approximately 45 miles northwest of El Paso, Texas. The community was built in 2017 and is strategically located within two miles of three short-term acute care hospitals that offer Medicare referral opportunities. With trailing EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) approaching $745,000 at the time of marketing, the facility presented an acquisition opportunity for a regionally focused owner-operator to realize immediate cash flow upon acquisition, expand upon an existing geographical footprint, and still have the ability to achieve significant value by stabilizing the asset. The buyer was an owner-operator that Blueprint previously worked with in New Mexico. The seller and price were not disclosed. Amy Sitzman and Giancarlo Riso led the Blueprint team.
RIO RANCHO, N.M. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a 13,847-square-foot, single-tenant retail property in Rio Rancho. Natural Grocers occupies the building, which was built in 2020, on a 15-year, triple-net-lease basis, with 12 years remaining on the lease at the time of sale. Natural Grocers’ current portfolio includes 164 stores in 21 states. Don McMinn of Taylor McMinn Retail Group represented the undisclosed seller in the transaction. The price was also not disclosed. “Despite the surplus of net-lease inventory on the market and limited buyer pool, quality net-lease grocery inventory remains in short supply and high demand,” says McMinn.
MMCC Arranges $8.8M in Acquisition Financing for Hampton Inn & Suites Artesia in New Mexico
by Amy Works
ARTESIA, N.M. — Marcus & Millichap Capital Corp. (MMCC) has arranged $8.8 million in financing for the acquisition of Hampton Inn & Suites Artesia, a hotel located at 2501 S. Permian Pavilion Ave. in Artesia, located in the southeast corner of the state. Tyler Waller of MMCC’s Phoenix office secured the 10-year loan, which includes three years of fixed interest with a 25-year amortization schedule and 70 percent loan-to-value ratio, on behalf of a private client. Josh Tammen of Marcus & Millichap represented the both the buyer and seller in the transaction. Built in 2016, the Hampton Inn & Suites Artesia features 81 guest rooms and provides direct access to downtown Artesia and Artesia Municipal Airport.
ARIZONA, NEW MEXICO, OHIO AND OREGON — Intel Corp. and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms (PMT) for up to $8.5 billion in direct funding to Intel for commercial semiconductor projects under the CHIPS and Science Act. The proposed funding would help advance Intel’s critical semiconductor manufacturing and research-and-development (R&D) projects at its sites in Arizona, New Mexico, Ohio and Oregon. CHIPS Act funding aims to increase U.S. semiconductor manufacturing and research and development (R&D) capabilities. According to a release, Intel is the only American company that both designs and manufactures leading-edge logic chips. “Today is a defining moment for the U.S. and Intel as we work to power the next great chapter of American semiconductor innovation,” says Intel CEO Pat Gelsinger. “Artificial intelligence is supercharging the digital revolution, and everything digital needs semiconductors.” Santa Clara, Calif.-based Intel is building two new fabrication plants in Chandler, Ariz. The new factories on the company’s Ocotillo campus are part of Intel’s multibillion-dollar global manufacturing build-out, which includes new or expanded facilities in Oregon, New Mexico, Ohio, Malaysia, Ireland, Poland, Israel and Germany. Construction is underway on Intel’s Fab 9 factory in Rio Rancho, N.M. Fab …
Sonny Brown Associates Negotiates Sale of 215,256 SF Industrial Property in Santa Teresa, New Mexico
by Amy Works
SANTA TERESA, N.M. — Sonny Brown Associates has arranged the sale of an industrial building located at 465 Industrial Ave. in Santa Teresa, a suburb of El Paso, Texas. Dallas-based Hunt Southwest acquired the asset from Easton, Pa.-based MCS Industries for an undisclosed price. The 215,256-square-foot warehouse, distribution and manufacturing facility features 60-foot and 45-foot column spacing with staging bays at 40-foot deep, 32-foot clear heights, CTPAT capacity, 20 dock-high doors and one ramp door. The building features a 5,843-square-foot office space, 5,686-square-foot QC Lab space and 880-square-foot shipping/receiving office space. Additionally, the building is expandable by 45,900 square feet. Adin Brown of El Paso, Texas-based Sonny Brown Associates represented the seller and buyer in the deal.
SANTA FE, N.M. — The Bascom Group has acquired San Miguel Court Apartments, a multifamily property at 2029 Calle Lorca in Santa Fe. Terms of the transaction were not released. Built in 1974, San Miguel Court features 96 one-, two- and three-bedroom apartments with in-home washers/dryers, hardwood-style flooring, stainless steel appliances and large walk-in closets. Ryan Greer and CJ Connelly of CBRE arranged the debt financing for the acquisition with La Salle Debt Investors as the lender. Apartment Management Consultants will manage the asset, and SD-CAP will provide construction management services.
Hunt Southwest Real Estate Acquires 215,256 SF Industrial Building in Santa Teresa, New Mexico
by Amy Works
SANTA TERESA, N.M. — Hunt Southwest Real Estate Development has purchased an industrial building located at 465 Industrial Ave. in Santa Teresa, near both the Texas and Mexico borders. MCS Realty Partners sold the asset for an undisclosed price. Built in 2015, the vacant 215,256-square-foot building offers of 32-foot clear heights; existing office space; an air-conditioned space for quality control lab, production or assembly; an ESFR sprinkler system; and a secure, fenced-in truck court with trailer staging area. Additionally, there’s land adjacent to the building that can accommodate a 45,000-square-foot building expansion, additional parking or outside storage. Adin Brown of Sonny Brown Associates brought the acquisition opportunity to Hunt Southwest and will represent the company in the lease-up of the facility.
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