Archives for October 2017

Thanks to all of the brokers, sponsors, and guests who attended the October 2017 CCIM NM Deal Making Session and to those who shared the October 2017 CCIM NM Properties.

Over 20 million dollars of commercial real estate properties available for sale were presented from all over New Mexico.
Click here to view source PDF.
Click here to view CCIM NM Deal Making Sessions Thank You’s.

1.	Gilbert Chavez	107, 115, 117 Aztec Rd	Industrial	$575,000
2.	Shelly Branscom CCIM	117 Bryn Mawr Dr SE	Office	$1,075,000
3.	Randy McMillan CCIM, SIOR	2240 E Lohman Ave, Las Cruces	Retail	$2,934,000
4.	Randy McMillan, CCIM, SIOR & Jake Redfearn	2200 E Lohman Ave, Las Cruces	Retail	$13,280,761
5.	Keith Meyer, CCIM, SIOR, Jim Wible, CCIM, & Riley Mckee	1255 Old Coors Rd SW	Industrial	$1,800,000
6.	Jim Hakeem	2201 Trinity Dr	Land	$1,650,000
7.	Keith Meyer, CCIM, SIOR, Jim Wible, CCIM, & Riley Mckee	4115 Broadway Blvd SE	Industrial	$499,000

For many commercial practitioners RPR is the go to source for persuasive, decision making data and reports. From site selection and investment analysis tools to demographic and psychographic insights about communities, this valuable Realtor® member benefit truly helps validate a practitioner’s local expertise when working with a broad range of clients.
At RPR Commercial we have a goal of becoming the nation’s top technology for researching and analyzing commercial real estate opportunities. With this in mind, our data and integration partnerships are strategically selected so that whether they provide local economic activity or traffic counts, they all provide nationwide coverage and usability. So just by being a Realtor® and creating an RPR account, users have unparalleled access to the following…

Data

• Over 35 million Commercial public records: sales history, distressed details, taxes, etc.
• Demographic and Economic Data: population growth, income data, unemployment, etc.
• Esri Tapestry Segmentation: consumer preferences and ancillary community data
• Traffic Counts: mapped historic counts with projections based on growth
• Business Points of Interest: Mapped locations and details about the business

Tools

• Attribute Based Site Selection
• Retail Supply/Demand Based Site Selection
• Investment Analysis
• Property, Trade Area and Analysis Report Generation
• Mobile App for Apple and Android Devices

 

Realtors^® today are being rewarded by their clients for providing data that backs up their buy-or-lease decisions and RPR Commercial is here to consolidate that needed information into one easy to access platform.
By: REALTORS Property Resource (RPR)
Click here to view source article.

New Mexico might not have the most money to offer Amazon as it decides where to put a second headquarters, but officials say nearly limitless sunshine, hazard-free weather and a diverse population should make the state competitive.
The e-commerce giant has set Thursday as the deadline for bids from Albuquerque and dozens of other cities competing to lure Amazon. The company is promising $5 billion of investment and 50,000 jobs over the next decade and a half.
Albuquerque Mayor Richard Berry has already pointed to the city’s 310 days a year of sunshine in a letter to Amazon founder Jeff Bezos.
Berry’s chief of staff, Gilbert Montano, said the city has been laying the groundwork to attract big employers like Amazon and build entrepreneurial opportunities with investments in the workforce and infrastructure.
Montano said Tuesday that Albuquerque should be a major contender — confirming that the city will submit a proposal that includes what he called some creative real estate solutions focused on a downtown area that city officials say is undergoing a renaissance.
“We’re ready for the opportunity, and our residents are excited about the prospect of Amazon’s phenomenal career opportunities,” Montano said in a statement.
Montano did not offer specifics, but he mentioned a competition underway to change Albuquerque’s skyline with a towering state-of-the-art space for offices, retail and living in the heart of downtown.
Just to the south, he says the complex of steel and glass that make up the historic rail yards is another property that would work for Amazon.
Due to nondisclosure agreements, the city is keeping quiet about what kind of tax breaks and other financial incentives it may offer. But officials with the state Economic Development Department and local business groups say it has become a statewide effort to put New Mexico on Amazon’s radar.
“We don’t have the checkbook, if that’s what you want to call it, that Illinois or whomever — pick a state — has. It’s going to be the total package,” said Matt Geisel, the state economic development secretary. “New Mexico is a great place to do business and it’s a great place to live. What we offer is unique and compelling and you layer those things up.”
Geisel, who moved to New Mexico years ago as part of a corporate relocation program, opted to stay at the end of his stint and he said the same has been true of many other workers recruited to the state.
While quality of life means different things to different people, he said New Mexico has food, brew and art scenes as good as anywhere plus year-round affordable outdoor recreation, short commute times and plentiful blue skies.
“Sunsets and vistas aren’t going to win the project, but it does definitely throw a little green chile salsa on our overall offering,” Geisel said.
On a more serious note, the Albuquerque mayor and others say the region boasts a talented labor pool with a significant number of people who have doctorate degrees — most in the science and technology fields.
New Mexico is home to two national laboratories, military research installations, the nation’s first purpose-build commercial spaceport and one of the world’s premier astronomical radio observatories.
Add to that ethnic diversity that aligns with Amazon’s corporate values, Berry said, calling it one of the greatest strengths. New Mexico is one of only a handful of minority-majority states.
“At its core, the city is both attractive and scrappy and is rising to the top of its game,” Berry wrote in his letter. “Amazon can be the catalyst to propel our city forward.”
By: Susan Montoya Bryan (ABQ Journal)
Click here to view source article.

It may not be a skyline-thrusting high-rise tower, but the team behind Silver Avenue Flats LLC certainly is thinking big.

The Albuquerque Development Commission, which recently heard three presentations from proposals submitted in response to the Skyline Competition RFP, unanimously voted to approve Silver Avenue Flats LLC’s bid to redevelop a vacant lot on the northeast corner of Second Street and Silver Avenue.  According to documents filed with the city, initial development costs of the public-private partnership are pegged “in excess of $24 million.”

But it’s a modest five-story mixed-use affair proposed by Silver Avenue Flats LLC.

The developers will now move on to negotiations with the Planning Department’s Metropolitan Redevelopment Agency to finalize a contract, according to a department spokeswoman. The proposal includes a five-story mixed use facility  including 130 high-end, market-rate apartments, a bicycle transit center, a public safety/security center, a neighborhood fitness center, public art, a parking garage and commercial/retail space.

Development principals are CBRE Albuquerque executives Tom Jenkins and Erik Olson. Both have extensive experience brokering office-related leases and sales Downtown.  The architectural design and planning team includes Studio Southwest Architects and SMPC Architects. The construction partner is Klinger Constructors.

The development timeline suggests a summer 2019 completion date and asks for city assistance to defray development costs and fees, including abatement of ad valorem for 10 years; abatement of gross receipts taxes for construction costs; no assessments of impact or utility expansion fees; a request to lease 80 parking spaces in the city-owned Gold Avenue Garage for $1 per year for 40 years; and a seven-year property tax abatement for the project through the MRA.

“The Silver Avenue Flats development will be a visually striking building that becomes easily identifiable and synonymous with Downtown Albuquerque,” reads the introductory letter to the city. “Silver Avenue Flats is a project whose benefits include removal of blight, creation of jobs, addition of parking, public art, promotion of economic development and creation of housing.”

In late February, Mayor Richard J. Berry announced a competition to transform the city’s skyline with the tallest building in the state. The city, through its Metropolitan Redevelopment Agency, requested proposals to partner with one or more master developers to erect “iconic and skyline-defining” buildings in the heart of Downtown. The city said it would offer two parcels “at fair value price” through sale or ground lease to the winning developers. They are: the parking lot on Third Street and Marquette Avenue, and the vacant lot on the northeast corner of Second Street and Silver Avenue.

The city also liked a proposed Downtown tower but said it wasn’t quite ready for prime time.

The ADC unanimously rejected both proposals submitted by Symphony Tower LLC and Albuquerque Skyline Partners LLC because the commissioners felt the proposals did not fully meet the requirements of the RFP. Instead, the ADC  requested that Symphony Tower lead developer Geltmore LLC work with the MRA team to revise and refine its proposal for a 34-story tower, consisting of condominiums, a boutique hotel, retail and green space.

By: Steve Sinovic (ABQ Journal)
Click here to view source article.