New Mexico

Tropical Smoothie Cafe Expands in New Mexico

by Nellie Day January 23, 2017

ALBUQUERQUE, N.M. — Tropical Smoothie Cafe, a fast-casual restaurant, signed franchise agreements to develop more than 160 new cafes in the United States in 2016, closing out the year with 86 new restaurant openings. The company expanded the brand’s presence most notably in Albuquerque, Charleston, S.C., Dallas and Houston. In 2017, the franchise plans to open 100 restaurants nationwide. By 2020, Tropical Smoothie Cafe aims to have 1,000 stores open across the U.S. Tropical Smoothie Cafe’s franchise growth is backed by BIP Franchise Accelerator, a division of venture capital firm BIP Capital, which invested in the brand in 2010. Founded in 1997, Tropical Smoothie Cafe is a fast-casual restaurant with more than 540 locations nationwide.

January 23, 2017

Multifamily New Mexico Seniors Housing Western

Westport, Integro Sell Montecito Santa Fe Seniors Housing Community

by Nellie Day November 30, 2016

SANTA FE, N.M. — A joint venture between Westport Capital Partners and Integro Healthcare Consulting has sold Montecito Santa Fe, a 146-unit independent living and assisted living community in Santa Fe. Sabra Health Care REIT purchased the property for an undisclosed sum. The sellers originally purchased the property out of bankruptcy and repositioned it as a Class A asset. Integro will continue to operate the community after the change in ownership. Richard Swartz, Jay Wagner, Aaron Rosenzweig and Timothy Hosmer of Cushman & Wakefield executed the transaction.

November 30, 2016

Hospitality New Mexico Western

Super 8 Taos in New Mexico Sells for $1.5M

by Nellie Day November 23, 2016

TAOS, N.M. — Jayjala LLC has acquired a 49-room Super 8 Taos motel for $1.5 million. The property is located at 1347 Paseo Del Pueblo Sur in Taos. Leilani Tedeski and Bruce Barnhard of Marcus & Millichap represented both the buyer and seller, another LLC, in this transaction.

November 23, 2016

New Mexico Retail Western

Three New Tenants Join Coronado Center in Santa Fe

by Nellie Day November 1, 2016

SANTA FE, N.M. — Three new tenants have signed on to Coronado Center, a 117,006-square-foot shopping center in Santa Fe. The new leases include New Baking Company, for 4,500 square feet; Orangetheory Fitness, which will open a 2,640-square-foot studio; and Nutrishop, which leased 1,000 square feet. First National Bank of Santa Fe has also relocated from an in-line space to a building on the corner of St. Francis Drive and Cordova Road. Trader Joe’s anchors the shopping center, which also includes Subway, Great Clips, Party City, Wild Birds Unlimited and Dollar Tree. Phillips Edison & Co. owns the property.

November 1, 2016

Hospitality New Mexico Western

Marriott International Opens First Tribute Hotel in Santa Fe

by Nellie Day October 5, 2016

SANTA FE, N.M. — Marriott International has opened the 157-room La Posada de Santa Fe in New Mexico, the first hotel within the company’s Tribute Portfolio of resorts and spas. The hotel is located at 330 E. Palace Ave. in Santa Fe. La Posada is situated on six acres, steps from the historic downtown plaza and Canyon Road. The hotel contains three food and beverage outlets, including Julia, a Spirited Restaurant & Bar, the Staab House and the Patio Restaurant. Signature features of the Tribute Portfolio include an homage to the area’s local history, which can be seen in the resort’s bright blue doors, the Patio’s twinkle lights, traditional Southwestern fireplaces, colorful gardens and tapestries. Marriot will open additional Tribute Portfolio hotels throughout the U.S., including Denver and San Diego.

October 5, 2016

New Mexico Retail Western

DSW to Open 21 New Stores this Fall

by Nellie Day August 29, 2016

ALBUQUERQUE, N.M. — DSW Inc., a leading branded footwear and accessories retailer, plans to open 21 new stores nationwide this fall, including four out West. The Western-based stores will be situated in Albuquerque, N.M.; Silverdale, Wash.; and Salinas and Chino, Calif. The 21 new stores will open in August through October.

August 29, 2016

New Mexico Retail Western

Jimmy’s Egg Plans 52 New Restaurants, Including Entry to New Mexico

by Nellie Day July 20, 2016

ALBUQUERQUE, N.M. — Jimmy’s Egg Franchise Systems has signed six area development agreements for 52 new restaurants to be built in Kansas, Arkansas, Texas, New Mexico, Nebraska and Iowa. This development activity will bring Jimmy’s Egg into three new states: Arkansas, New Mexico and Iowa. Jimmy’s Egg was founded by Loc Le and opened in Oklahoma City in 1980. The chain currently includes 51 locations, prior to this new expansion.

July 20, 2016

Multifamily New Mexico Student Housing Western

Signet Development, UNM Break Ground on $35M Student Housing Community

by Nellie Day July 13, 2016

ALBUQUERQUE, N.M. — Signet Development, in partnership with the University of New Mexico (UNM), has broken ground on Lobo Rainforest, a $35 million, 160,000-square-foot living-learning community located within the planned Innovate ABQ district in downtown Albuquerque. The six-story property will house over 300 UNM students studying in entrepreneurial education programs. Signet will own and develop the property through a lease arrangement with UNM, which will manage and operate the facility. The property will also be home to UNM’s Innovation Academy, meeting and collaboration rooms, and several business startup organizations including Innovate New Mexico and STC.UNM’s Joseph L. Cecchi VentureLab business incubator. Other tenants will include the Air Force Research Laboratory and various retail outlets. Dekker/Perich/Sabatini is the architect for the project, and Jaynes Cos. is the construction group. The property is scheduled for completion in August 2017.

July 13, 2016

Hospitality New Mexico Western

The Hotel Group Sells DoubleTree by Hilton in Santa Fe

by Nellie Day June 9, 2016

SANTA FE, N.M. — UJAS Santa Fe LLC has purchased a 130-room DoubleTree by Hilton in Santa Fe for an undisclosed sum. The hotel is located at 4048 Cerrillos Road. It was built in 1986 and renovated in 2012. The DoubleTree also features 4,500 square feet of meeting space, on-site dining, a business center, gift shop and indoor/outdoor pool. Mike Kelly and Brandon Miller of Ten-X and Daniel MacDonnell and Eric Melendez-Lluch of Cushman & Wakefield represented the seller, an affiliate of the Hotel Group, in this transaction.

June 9, 2016

Multifamily New Mexico Seniors Housing Western

Community Development, YES Housing Form JV to Acquire, Recapitalize Affordable Communities in New Mexico

by Nellie Day May 2, 2016

ALBUQUERQUE — The Community Development Trust, an affordable housing REIT, and YES Housing Inc., an affordable housing operator, have formed a joint venture to recapitalize three YES-operated properties in New Mexico. CDT will invest $4.5 million to preserve 262 units of affordable Section 8 seniors housing in Albuquerque, Las Cruces and Roswell. The money will fund improvements and preserve affordability at the properties, which are reserved for seniors earning below 60 percent of the area median income. The first property to receive improvements will be the 60-unit Wildewood Apartments in Roswell. CDT and YES acquired the property earlier this month using Freddie Mac financing through Hunt Mortgage Group. The JV plans to make $300,000 in capital improvements to the asset, which was built in 1978 and renovated in 2000. The other two properties were not disclosed, as the acquisitions are still pending.

May 2, 2016

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