2008 NEWS

Judge Puts City's Green Code on Hold: Federal Injunction Stalls Enforcement. Just two days old, Albuquerque's new "green" building code is on hold again, an it may never be enforced.

Transit Center Opens Its Doors: The City's new Northwest Transit Center opened for use Tuesday, and it proved to be a bigger draw than expected.

What you get for the Money: Bernalillo County closing in on a $42 million deal to buy Petroleum Club building.

Proposing a new look for the City: Form-based design codes cause concerns among developers and property owners.

Volcano Heights Eyed for Development: City looking to grow West Side. City officials have their eye on Albuquerque's northwest quadrant - in particular the Volcano Heights area - as the next spot for commercial and economic growth.

Home Sweet School: Volcano Vista High School has grown and is ready for more kids. The second phase of Volcano Vista High School is ready for ninth through 11th graders when school opens in a few weeks.

Maintaining its LEED: "A three-year zoning battle, skyrocketing construction costs and the near-bankruptcy of one of its tenants have not moved the Thornburg Campus from its position in the green-building vanguard."

New Frontier of Growth: "Albuquerque/Santa Fe - New Breed of City. One of the 'mountain megas,' NM corridor needs supporting infrastructure, Brookings study says."

Sawmill Trust Gets Grant To Clean Up Ponderosa Site: The Sawmill Community Land Trust is getting $225,000 from the state to help clean up the old Ponderosa Products site.

Lawsuit Takes On Green Building Rules: City codes too strict, some say.

Film rental startup lands in Gateway Park: Filmmaker Production Services, Inc. is a new subsidiary of NBC Universal, a major media company has leased a 25,500 square foot office and warehouse at Gateway Industrial Park.

Locally owned ABQ Jump opened at Gateway Industrial Park in May in 7,500 square feet. A party center, the business has two large recreation rooms with inflatable slides and obstacle courses, plus two smaller private party rooms, geared to children aged 2-12.

David Genrich, CCIM, SIOR and Ed Anlian of REA are the listing agents for Gateway Industrial Park.

Green Code Enforcement Delayed Again - City Says Industry Needs More Time: The City is postponing enforcement of its new green building code yet again, this time for three months.

Crossing to bring needed development: The opening phase of marketing is under way on a planned 58,000 square foot retail and office project on just over seven acres at the SWC of Coors and Tower SW in what has been described as an underserved area of the metro. David Genrich, CCIM, SIOR and Ed Anlian of REA are the listing agents.

HP Expected to bring RR 'Huge Boost': Hewlett-Packard plans to open a customer service and technical support center in Rio Rancho... plans to bring more than a thousand jobs to Rio Rancho within four years

Film Spending in Albuquerque Could Reach $150 million in 2008: The film industry has brought about $250 million in direct spending to Albuquerque in the past five years and is on track to bring $150 million to the city this year alone. "This just continues to be a huge win-win for the city and the state," said Mayor Martin Chávez.

In NM, Building Green Yields Green in Return: The Sustainable Building Tax Credit was passed as part of the NM Senate House Bill 463 last year. New Mexico is the first state to offer such a comprehensive tax credit for green buildings.

Lots of Vacancies: Albuquerque area has a glut of commercial condos.

Metro Industrial Space Vacancy Rises Slightly: The vacancy rate for industrial space too a small jump in the first quarter, although the market remains tight.

The Best-Laid Plans: Decision in Uptown zoning case will have major legal, financial implications for City.

Urban Outfitters is coming to Nob Hill: Urban Outfitters is scheduled to open in November next to Objects of Desire, on the corner of Central and Wellesley.

Another Jinja eatery is coming right up: Located on Coors Boulevard one mile south of Montano.

Gardunos is Hot: Local Mexican resturant planning to offer franchises worldwide.

Far North Wild Oats to close its doors next month: The store is expected to close by May 7.

Thornburg Mortgage to Resume Lending: "Thornburg Mortgage Inc....expects to resume making loans 'within weeks, if not days,' Chief Executive Larry Goldstone said Tuesday."

Tech Support: Combined efforts of government entities, private sector have made science park a success. Sandia Science & Technology Park turns 10 this year.

Banner Year: Commercial Real Estate did well in 2007, but the 2008 outlook is murky.

Albuquerque Ambulance Gets New Home: Albuquerque Ambulance's North Valley home for the past 12 years is being marketed by Terry Johnson of Real Estate Advisors.

Elbow Room: The Albuquerque office of Technology Integration Group (TIG), will move into Gateway Industrial Park by the end of March. Gateway Industrial is marketed by David Genrich and Ed Anlian of Real Estate Advisors.

So Far, So Good: Company buying PNM's Gas Division gets high marks for customer service, employee relations.

Star Center Wins Honor: Contractor Magazine bestows best large steel project award on center.

Water Woes Creep Up: City-County users were thirsty in 2007, but officials say we're still doing pretty well.

Firm to Bring 1,200 High-Pay Jobs to City: Mayor says Fidelity Investments salaries will average $60,000.

PNM to Sell Gas Company: The Public Service Company of New Mexico has reached an agreement to sell its natural gas operation to a Michigan-based company for $620 million.

Some of City's 'Green' Claims full of Hot Air - Greenhouse Gaffe: It is a claim every Albuquerque resident who cares about global warming could be proud of: Since 1990, city residents have cut their greenhouse gas emissions by 6 percent. It is also untrue.

Construction Has Held Steady in Albuquerque and New Mexico, Despite National Downturn: Look around and there's construction everywhere, from road improvements and utility projects to those extra-large buildings going up that mean either business or government.

Solar Firm Heads to Mesa del Sol: Schott Solar, a subsidiary of Mainz, Germany-based glass-making giant Schott AG, will initially employ 350 at the Albuquerque plant, which is expected to quadruple in size over time to become its U.S. flagship facility.

Made to Fit: Nob Hill condos designed to complement spirit of neighborhood.

Hospital Could Become Hotel: Property owner Memorial Ventures LLC is proposing to redevelop the vacant Memorial Hospital complex under a plan scheduled to go before two city commissions this afternoon.

UNM Land Options Reviewed: There are 11 development proposals university officials have been sifting through as they explore ways to make money off of valuable UNM property.

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2007 NEWS | top

Council OK's 'Green Building' Measures: 2 bills push for energy savings. "The City of Albuquerque is going to have a building code that leads the nation" - Councilor Isaac Benton.

Commercial is definitely not residential: ... last week's commercial real estate update...hosted by the local chapter of the NAIOP...involved distancing commercial real estate from the troubled residential sector." Terry Johnson, CCIM, SIOR of Real Estate Advisors was one of the speakers.

REA Vice President, Art Paterson, earns his LEED Professional Accreditation:
Congratulations Art!

Cycles, and a new generation of brokers:   
Demand for industrial space... appeared to stall in the third quarter in the Albuquerque metro area... "A lot of people are doom and gloom right now, but I think it's overstated," said David Genrich of REA.

Gateway Industrial Park ...schedules February move-in dates: We looked at it and thought we could produce a better product with more parking by pushing the two buildings together" said David Genrich the leasing agent with REA.

Elbow room for Engineers...:  
Albuquerque-based Aspen Avionics...will occupy 23,472 square feet at TechCommons Business Center located at 5001 Indian School Road NE. Ed Anlian and Tom Jenkins of REA marketed the space.

'Spirited Competitor' - Jenkins: A commercial competitor with camaraderie: ...Although he is the public face of REA, Jenkins is quick to point out that one of the secrets to the firm's success is team effort.

City May Purchase Part of Historic Rosenwald Building:  
The City could soon become part owner of a landmark Downtown building. The proposed purchase price is about $1.6 million. Tom Jenkins, SIOR and Jamie Melin of Real Estate Advisors represent the building.

Selling on Gold, and apartment rent:   
An Albuquerque law firm plans to relocate from Uptown to an office condo at the Gold Avenue Lofts in Downtown. Gold Avenue Lofts are represented by Tom Jenkins and Jamie Melin of REA.

Downtown Bargain - Demand is Rising as Office Hunters Learn of Below-Average Lease Rates:   
The Downtown office scene appears to be coming out of the doldrums.

Boston Company Snags Comanche Business Center:   
GID Investment Advisors has purchased Comanche Business Center at 2420 Comanche Road NE for $16 Million. Tom Jenkins, SIOR and David Genrich, CCIM, SIOR brokered the sale of the business park.

A Bigger Paychex:   Payroll company moving and adding new jobs in the Duke City. Albuquerque Economic Development and Real Estate Advisors worked with Paychex on the expansion.

Who's getting some good press? It's our own fair city!
A constant stream of accolades for New Mexico's biggest city began pouring in just over a year ago - and it's showing no sign of letting up soon.

REA Recognizes Top Deals:
Mark Friedman, CCIM and Erick Johnson both posted record transactions in the first quarter of 2007. Congratulations on making this the best quarter on record for Real Estate Advisors!

Commerce Follows Families, and 28 Acres:
Construction begins on Riverfront Plaza in Los Lunas. The first phase will include 32,500 square feet of office and retail space in three buildings.

REA lists Comanche Business Center for Sale:
The project includes over 20 tenants and 130,304 square feet
of space is on the market.

REA receives 2006 Biggest Deal Award - Business Weekly:
The four story, 127,000 square foot building, considered one of
only three "trophy", Class A office buildings in New Mexico, sold
for $26 Million.

REA Acknowledged for 4 of the Top 10 Leases of 2006:
Montano Distribution Center, Rio Grande Distribution Center (as Tenant Representative), Renaissance Business Center, and the Springer Industrial Park leases were recognized as four of the largest leases at 129,000, 75,900, 42,000 and 96,000 square feet.

REA Acknowledged for 2 of the Top 10 Sales of 2006:
The Horizon South project took the number one spot as the largest sale transaction for 2006. REA was also involved as the listing company for the number nine deal with the Fulcrum Building in Rio Rancho, NM.

REA recognized for $8.5 Million Broadway Project:
1301 Broadway NE, with 136,000 square feet was recognized as one of the top lease/listing projects for 2006.

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2006 NEWS | top

California Company Buys Molina Building:
One of the premier office buidings in the city of Albuquerque and the state has sold. Formerly called the John Hancock building, the 127,000 square foot building has been purchased by the California based Westlake Development Group, LLC.

Mixed-Use Urban Portfolio Awaits Customers:
Real Estate Advisors launches its own urban division to focus on properties located on Central Avenue.

CARNM Presents Annual Awards:
Tom Jenkins is awarded the 2006 Marketing Deal of the Year.

Changing Companies:
Commerical real estate veteran Terry Johnston has moved to Real Estate Advisors after 32 years with Berger Briggs Real Estate and Insurance.

Graybar Moves:
Graybar, which has been in Albuquerque since 1962, recently expanded into a new 38,700-square-foot distribution center on Menaul near Fourth NW.

Another Bouquet:
Kiplinger's magazine says the Duke City is a good place to live.
Citing what is called Albuquerque's "boom-town economy and cow-town prices," Kiplinger's Personal Finance ranked the city No. 3 on its list of "Smart Places."

Filling retail, and buyers right there:
Rising gasoline prices and interests had no apparent impact on Albuquerque's market for retail space in the first quarter, according to the latest report by Grubb & Ellis-New Mexico.

Roasting the Beans and Baking Dessert:
Flying Star, the growing string of locally owned cafes, is tripling the size of its bakery operation with a move this summer to Gateway Industrial Park.

Good for Business:
Duke City tops Forbes' list of best places for companies, careers
In the coming years, Mayor Martin Chavez said, "We'll see tremendous qualitative growth in our economy. The word is out. Albuquerque is No. 1"

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The corporate headquarters for Real Estate Advisors was opened on January 19, 2004. See related story in cover story of the New Mexico Business Weekly for January 23, 2004 @ Biz Journals

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