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FARMINGTON, N.M. — Newmark has brokered the sale of a single-tenant retail building located at 5200 E. Main St. in Farmington. Johnston Real Estate Farmington sold the asset to an undisclosed public REIT for $6.5 million.
Matt Berres, Samer Khalil and Karick Brown of Newmark’s Net Lease Capital Markets group, along with John Ransom of Colliers, represented the seller in the deal.
Ashley HomeStore occupies the property on a long-term, passive double net-lease basis. The retail furniture store has more than 2,000 locations in 60 countries.