New Mexico

ARCO/Murray Completes Design-Build of Two Self-Storage Facilities in New Mexico

by Amy Works March 25, 2019

ALBUQUERQUE AND SANTA FE, N.M. — ARCO/Murray has completed the construction of Ladera Storage in Albuquerque and Vegas Verde Storage in Santa Fe for Titan Development. Ladera Storage is a the three-story, 103,350-square-foot property offering fully climate-controlled units. The four-story Vegas Verda Storage features 88,184 square feet of climate-controlled self-storage space and two interior covered loading docks. Extra Space Storage will manage both facilities. ARCO/Murray provided design-build services, including architectural, structural and MEP design, as well as permitting and construction for each property.

March 25, 2019

Development Multifamily New Mexico Seniors Housing Western

MorningStar, Confluent Open 71,000 SF Seniors Housing Community in Santa Fe

by Amy Works February 7, 2019

SANTA FE, N.M. — Co-developers MorningStar Senior Living and Confluent Senior Living have opened MorningStar Assisted Living & Memory Care of Santa Fe. The 71,000-square-foot senior living community adds 56 assisted living units and 29 memory care units to the Santa Fe market. Nearly one-fifth of the city’s population is 65 or older, according to the developers. Construction of the community began in August 2017. The development represents the second MorningStar Senior Living community in the state. MorningStar and Confluent opened the MorningStar of Albuquerque community in 2016 and are building a third New Mexico community scheduled to open in Rio Rancho in spring 2019. The Santa Fe project represents the ninth completed joint venture between affiliates of Denver-based senior living developer, owner and operator MorningStar, and Confluent Senior Living, a subsidiary of Denver-based real estate investment and development firm Confluent Development. Rosemann & Associates was the architect on the project while New Mexico-based Bradbury Stamm Construction served as general contractor. Confluent is the project owner and MorningStar serves as the operator.

February 7, 2019

Acquisitions Multifamily New Mexico Seniors Housing Western

Blueprint Brokers Sale of Two-Property Seniors Housing Portfolio in New Mexico

by Amy Works February 4, 2019

AZTEC AND LOVINGTON, N.M. — Blueprint Healthcare Real Estate Advisors has arranged the sale two seniors housing properties in New Mexico for an undisclosed price. The portfolio consisted of 150 skilled nursing beds and 25 independent and assisted living units. One property is located in Aztec, in the northwest corner of the state, and the other is in Lovington, in the southeast corner of the state. Blueprint handled the transaction on behalf of the seller, Sioux Falls, S.D.-based The Evangelical Lutheran Good Samaritan Society, a nonprofit owner-operator for which the assets represented a non-core disposition. A Southern California-based private investor interested in expanding in New Mexico was the buyer. Amy Sitzman and Hayden Behnke of Blueprint led the transaction.

February 4, 2019

Acquisitions New Mexico Restaurant Retail Western

Four Corners Property Trust Buys Outback Steakhouse-Occupied Property in New Mexico for $3.9M

by Amy Works January 29, 2019

NEW MEXICO — Mill Valley, Calif.-based Four Corners Property Trust has purchased a restaurant property located in New Mexico for $3.9 million. The asset was acquired through a sale-leaseback transaction and will operate under a new triple-net lease with Cerca Trova Restaurant Concepts, the largest domestic franchisee in the Bloomin’ Brands system. Outback Steakhouse occupies the property under a lease with 20 years of the initial term and rent increases of 10 percent every five years during the initial term.

January 29, 2019

Development Hospitality New Mexico Western

Titan Development Completes Multi-Million Renovation of Journal Center Courtyard Marriott in Albuquerque

by Amy Works January 18, 2019

ALBUQUEQUE, N.M. — Titan Development has completed the multi-million dollar renovation of Journal Center Courtyard Marriott, located at 5151 Journal Center Blvd. NE in Albuquerque. The renovation project was completed in four phrases over the past 12 months. The project included all 150 guest rooms updated with hardwood flooring; new spa-like pool and gym facilities; event space for 200 attendees classroom-style or 150 attendees banquet-style; and conference rooms with state-of-the-art, wall-mounted, big-screen televisions, wireless internet connectivity, new colors, ceiling lighting and wallpaper. Guest rooms offer private, open-air balconies, free Wi-Fi access, flat-screen televisions and pillow-top mattresses. On-site amenities include a landscaped courtyard, indoor pool, an updated gym and 4,000 square feet of indoor/outdoor venue space. Dwellings Interior Design provided design and décor services for the property.

January 18, 2019

Acquisitions Multifamily New Mexico Seniors Housing Western

Blueprint Negotiates Sale of 200-Bed Skilled Nursing Portfolio in New Mexico

by Amy Works January 7, 2019

SANTA FE AND HOBBS, N.M. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities, located in Santa Fe and Hobbs and totaling 200 beds. The seller was a Texas-based regional owner-operator looking to divest non-core assets. O&M Investments acquired the Santa Fe facility, while a Southern California-based private REIT acquired the Hobbs property. The prices were not disclosed. Christopher Hyldahl and Gideon Orion of Blueprint were the lead advisors on the transaction.

January 7, 2019

Development Industrial New Mexico Self-Storage Western

Titan Development Opens Extra Space Self-Storage Facility in New Mexico

by Amy Works December 14, 2018

RIO RANCHO, N.M. — Titan Development Real Estate Fund I has opened Extra Space Storage 528 & Corrales, a self-storage facility located at Highway 528 and Corrales Road in Rio Rancho. The project is the second self-storage facility to be completed by the fund. The two-building property features 88,032 square feet of space offering both climate-controlled and drive-up units, as well as RV and boat parking. Additionally, the property includes electronic access, perimeter fencing, video cameras and a retail center that sells moving and packing supplies. The fund recently opened Extra Space Storage Rodeo in Santa Fe and plans to open two additional Extra Space Storage facilities in New Mexico in January.

December 14, 2018

Development Industrial New Mexico Self-Storage Western

ARCO/Murray Design Build Completes 101,000 SF Self-Storage Facility in New Mexico

by Amy Works November 12, 2018

SANTA FE, N.M. — ARCO/Murray Design Build has completed the construction of Rodeo Park Self Storage, a self-storage facility in Santa Fe, for Titan Development. Extra Space Storage will operate the two-story, 101,000-square-foot facility, which is fully climate controlled. ARCO/Murray provided a complete design-build solution for the project, including architectural and engineering design, permitting and construction. Logan Castille of ARCO/Murray served as project manager, and Matt Pitzen, also of ARCO/Murray, served at project superintendent.

November 12, 2018

Acquisitions New Mexico Retail Western

Compass Commercial Real Estate Brokers $2.7M Acquisition of Retail Building in Albuquerque

by Amy Works October 17, 2018

ALBUQUERQUE, N.M. — Compass Commercial Real Estate Services has arranged the sale of a retail building located in Albuquerque. An undisclosed buyer acquired the property for $2.7 million. Situated on 1.1 acres at 1720 Unser Blvd., the property features 4,500 square feet of retail space. Jay Lyons and Grant Schultz of Compass Commercial represented the buyer in the deal. The name of the seller was not released.

October 17, 2018

Development New Mexico Restaurant Retail Western

Sapir Real Estate Development Breaks Ground on $45M Snow Heights Retail Project in Albuquerque

by Amy Works September 5, 2018

ALBUQUERQUE, N.M. — Sapir Real Estate Development has broken ground on the first phase of Snow Heights Promenade, a retail and entertainment project in Albuquerque. The $45 million phase will include a skyline live entertainment stage that will feature live DJ’s, concerts, comics, family movies, magic and puppet shows. In addition, Snow Heights Promenade will feature a children’s play area, dog park, restaurants, pubs, entertainment venues and retailers. Signed tenants at the development include Altitude Trampoline Park, Alamo Theaters, Fatburger, Outback Steakhouse, Juice It Up, Joe’s Pizzeria, U Choose Tacos, Divalish Desserts and Albuquerque Fitness Center, among others. The second phase of the project will include a $100 million office building with a rooftop dining experience. Sapir Real Estate Development expects to deliver the first phase of the project in January 2019.

September 5, 2018

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