New Mexico

Cain Brothers Arranges $40M in Bond Financing for Good Samaritan Society

by Nellie Day March 7, 2016

SIOUX FALLS, S.D. — Cain Brothers has arranged $40 million in taxable bank direct-purchase bonds for The Evangelical Lutheran Good Samaritan Society, a nonprofit operator of seniors housing based in Sioux Falls. Founded in 1922, the society operates skilled nursing facilities, senior apartments, home health services and affordable housing in over 230 locations in the United States. Proceeds from the financing were used to pay down a line of credit that was initially drawn upon to fund the purchase of a home health agency that provides services in New Mexico and Arizona. The acquisition more than doubled the society’s existing home health business. Cain Brothers arranged the financing through an undisclosed bank.

March 7, 2016

Loans New Mexico Retail Western

Houlihan-Parnes Arranges $9.1M Refinancing for Ladera Shopping Center in Albuquerque

by Nellie Day February 2, 2016

ALBUQUERQUE, N.M. — Houlihan-Parnes has arranged a $9.1 million refinancing for Ladera Shopping Center, a 128,712-square-foot shopping center located in Albuquerque. Ed Graf of Houlihan-Parnes secured the five-year loan. The center is currently 95 percent occupied by 23 tenants including John Brooks Supermarket, Dollar Tree, Taco Cabana, Bank of Albuquerque, Planet Fitness, the UPS Store, Supercuts, H&R Block and T-Mobile. Burger King occupies a pad site.

February 2, 2016

New Mexico Retail Western

Q10 Realty Arranges $2.5M Financing for Alameda Retail Center in New Mexico

by Nellie Day November 16, 2015

ALBUQUERQUE, N.M. — Q10 Realty Mortgage & Investment Co. has arranged $2.5 million in financing for Alameda Retail Center, a 16,391-square-foot shopping center located in Albuquerque. Michael Kelly and Michael Stordahl of Q10 secured the 15-year, fixed-rate loan through a life insurance company.

November 16, 2015

Market Reports Multifamily New Mexico Western Western Market Reports

Millennials Lead the Way in New Mexico’s Multifamily Market

by Nellie Day June 2, 2015

Multifamily housing is coming of age in New Mexico, and the Millennial generation is spurring the growth. The old adage of “location, location, location” is ever present as the placement of a property in relation to cultural, educational, entertainment and natural amenities becomes a major factor in the value of the property. The ability to walk and bike to social amenities like restaurants, theaters and schools is, and will continue to be, very high on the list of importance for members of this generation in New Mexico. There is not only a distinguishable difference in occupancy rates for units scoring high on Millennial’s wish lists, but the income for these units is between 20 percent and 24 percent higher than those with lower scores. While newly constructed and refurbished multi-housing units often appeal to Millennials, all of New Mexico is experiencing high occupancy rates throughout the multifamily market. This push on availability is fueling an environment that will continue to encourage increasing rents and new construction. Though the sale of multifamily properties was deeply affected by the recession, a market shift in 2013 has allowed the multifamily market to regain its footing with a two- to three-times increase in sales …

June 2, 2015

Industrial Market Reports New Mexico Western Western Market Reports

New Mexico’s Industrial Market Looks for Solid Footing

by Nellie Day May 26, 2015

The industrial market had a notable year in 2014. Vacancy declined 270 basis points from the first quarter of 2014 where nearly 1 million square feet of space was absorbed. It has been more than seven years since absorption has registered similar figures. The primary factor driving last year’s success was a handful of large deals with more than 50,000 square feet. The supply of larger, quality spaces was steadily leased up throughout the year. These accounted for 54 percent, or 522,000 square feet, of absorbed space. Market velocity slowed down during the fourth quarter, driven by a lack of quality inventory. Absorption registered a positive 103,000 square feet, and was the lowest quarterly level of 2014. The centrally located North I-25 submarket outshined all other submarkets. In the biggest deal of the quarter, Flagship Foods occupied nearly 79,000 square feet of space in the North I-25 submarket. There were also nine other spaces occupied in this submarket that contributed another 60,000 square feet of absorption. A developing concern for 2015 is the significant amount of new available space being brought to market. Although still occupied, a total of 244,000 square feet of new space was added to the inventory …

May 26, 2015

Market Reports New Mexico Retail Western Western Market Reports

Retailers Expand, Enter New Mexico

by Nellie Day May 12, 2015

The New Mexico retail market is continuing to change in a positive manner, which bodes well for property owners and businesses. There are new national, regional and local tenants looking at this market, moving in and around the shopping centers of New Mexico. New shopping centers are being built, while existing shopping centers are being redeveloped and traded. Some of the most significant transactions include Columbus Pacific acquiring Sierra Vista Shopping Center in Albuquerque and moving Stein Mart and Hobby Lobby into a former K-Mart space. Pete Daskalos Properties has also purchased Four Hills Village Shopping Center on Central and Tramway in the Southeast Heights submarket. The center now has a new movie cinema, among other changes to its anchors and tenant roster. A K-Mart building at Rio Rancho at Hilltop Plaza Shopping Center was also sold after the store vacated. The new landlord is looking to re-anchor that space as well. These big box vacancies have created redevelopment opportunities for existing shopping centers located in established trade centers while rents are increasing as the larger spaces are subdivided and leased to other tenants. This has created momentum in the market and upward pressure on asking lease rates. Other retailers …

May 12, 2015

New Mexico Retail Western

West Central Plaza Shopping Center in Albuquerque Sells for $12M

by Nellie Day April 16, 2015

ALBUQUERQUE, N.M. – West Central Plaza Shopping Center, a 123,048-square-foot retail center in Albuquerque, has sold to Heslin Holdings for $12 million. The center is located at 4208 Central Ave. SW. The property was formerly home to Kmart, which vacated the space last year. It also includes a number of smaller retail tenants in an adjacent multi-tenant building. A restaurant occupies a third building. Heslin will re-tenant the 104,000-square-foot facility vacated by Kmart. The company will likely re-configure the space to accommodate multiple tenants. The smaller buildings will also be upgraded and expanded. The seller, West Central Plaza, was represented by CBRE’s Jeremy Nelson, Lia Armstrong and Jim Dountas. The CBRE retail team was retained by Heslin to assist in the center’s leasing and redevelopment efforts. The firm made a $12-million investment in the property, which includes the costs of acquisition, redevelopment and re-tenanting, as part of a value-add investment strategy.

April 16, 2015

Hospitality New Mexico Western

WR Management Debuts GuestHouse International Inn & Suites Albuquerque Airport

by Nellie Day February 20, 2015

ALBUQUERQUE, N. MEX. — WR Management Co. has opened the new 80-room GuestHouse International Inn & Suites Albuquerque Airport. The hotel is located at 2601 Mulberry South East. The property has been recently upgraded and renovated. The hotel is situated near the University of New Mexico, Old Town Albuquerque and Albuquerque International Sunport Airport. The hotel also offers complimentary shuttles to the airport. The hotel features free wireless Internet access, complimentary hot breakfast and a kids-stay-free policy. GuestHouse International is part of the Boomerang Hotels property group.

February 20, 2015

Colorado New Mexico Retail Western

Twisters Restaurants in Colorado, New Mexico Change Hands

by Nellie Day February 13, 2015

DENVER AND ALBUQUERQUE — Gary Hines and Ray Ubieta have sold their 19 Twisters restaurants, the Twisters concept and its intellectual property to Rajiv Grover of VKC Group. The Southwestern fast-casual concept is located throughout Denver and Albuquerque. The restaurant gained notoriety when one of its locations served as the setting for “Los Pollos Hermanos,” a fictional Mexican restaurant in AMC’s Breaking Bad. The transaction was brokered by National Restaurant Brokers and its affiliate National Convenience Store Brokers.

February 13, 2015

New Mexico Retail Western

TKG Group Buys Albuquerque Retail Building for $6.3M

by Nellie Day January 28, 2015

ALBUQUERQUE, N. MEX. – TKG Group has acquired a 74,215-square-foot retail building in Albuquerque for $6.3 million. The space is located at 1100 West Main Street. TKG was represented by Joel Ledbetter of Hall and Hall. The seller, SW Juan Tabo LLC, was represented by Craig Spinks of Kidder Mathews.

January 28, 2015

Newer Posts

Older Posts