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| Bank of America Center |
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| 303 Roma & 500 4th Street NW, Albuquerque, NM |
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| General Office |
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| 229,123 ± sq. ft.. |
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| 428 - 50,535 ± sq. ft. |
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| $15.50 - $16.50/sq. ft. Full Service |
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| Downtown/Central Business District |
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| SU-3 |
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- Full floor plates available
- Abundant On-Site Parking
- Easily Accessible: Close to Rail Runner, Public Transportation and easy access to Freeways
- Convenient location to Courthouse & City/County Complex
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| Sandia Synergy Center |
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| 1451 Innovation Parkway SE, Albuquerque, NM |
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| General Office |
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| 28,216 ± sq. ft. |
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| 1,144.81 - 4,235.64 ± sq. ft. |
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| $14.50/sq. ft. - NNN |
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| Southeast Heights |
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- Located in the Sandia Science & Technology Park
- Up to 18’ ceiling height
- 5:1000 parking
- Direct access to the ORBIT fiber optic ring
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| San Felipe Plaza |
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| 2001 Mountain Road NW, Albuquerque, NM |
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| Executive Office Suites |
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| Individual Offices from $750.00/month |
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| Downtown / Old Town Neighborhood |
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| Included services in rate |
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- Local & long distance phone/fax service
- High speed internet & wireless
- Telephones in place with voicemail
- Shared reception area & services
- Shared conference room & kitchen area
- Parking in attached garage
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| In November 2011 Lowe’s Companies, Inc. (Lowe’s) signed a 10 year lease for 65,000 square feet in Albuquerque, New Mexico. REA, in cooperation with Cushman & Wakefield, represented Lowe’s in this transaction. Lowe’s started its search with 32 different cities; when Albuquerque was named on the short list of cities in the running REA not only worked on identifying an appropriate location but also providing pertinent information to Lowe’s and securing economic incentives to aid in their decision to move to Albuquerque. Lowe’s move to Albuquerque will result in over 600 new jobs. |
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| REA Hires Business Development Associate |
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REA has hired Andy Ramirez as a Business Development Associate. Andy’s focus is to identify and contact prospective tenants, primarily focused on the industrial market. Andy comes to REA with over 22 years of sales experience in the Real Estate market in both California and New Mexico. Andy’s background has been in various capacities including title and escrow companies, residential lending brokerage and residential real estate brokerage. Andy can be reached at Phone:505-217-9532, Cell: 505-401-9494, or eMail: andy@reanm.com
REA is actively recruiting a Business Development Associate to focus on the office market. Please contact Julie at julie@reanm.com if you have any interested candidates or recommendations. |
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| Albuquerque Office Market Overview |
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| The Albuquerque Multi-Tenant Office market consists of approximately 17 million square feet. The overall market ended the fourth quarter 2011 with a vacancy rate of 18.3%. Net absorption during the fourth quarter 2011 was (44,164). Rental rates ended the fourth quarter at $18.50, a continuing trend of decreasing rates over the last 18 months. The average time on market is currently 24.3 months. |
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| Albuquerque Office Market Statistics |
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| Statistics provided by Co-Star |
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| National Office Market Overview |
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| The U.S. Office market ended the fourth quarter 2011 with a vacancy rate of 12.3%. The vacancy rate was down over the previous quarter, with net absorption positive 21,730,505 square feet in the fourth quarter. Vacant sublease space decreased in the quarter, ending the quarter at 50,694,60 square feet. Rental rates ended the fourth quarter a $21.59, an increase over the previous quarter. A total of 196 buildings were delivered to the market in the quarter totaling 8,036,661 square feet, with 54,524,407 square feet still under construction at the end of the quarter. |
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| Source: National Office Market Overview, Fourth Quarter, COSTAR GROUP, INC. |
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| REA Represents 3 of the Largest Office Buildings in Albuquerque |
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According to New Mexico Business Weekly’s February 3-9, 2012 edition REA represents 3 of the 15 largest office buildings, based on total square footage, in Albuquerque. REA represents numbers: 7-500 Marquette, 8-Bank of America and 11-One Park Square.
Visit www.bizjournals.com/albuquerque for more details.
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| What Others are Saying About Commercial Real Estate |
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| Stuck in a slump-waiting on reprint rights |
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By Richard Metcalf / Journal Staff Writer on Mon, Jan 30, 2012
Copyright © 2012 Albuquerque Journal |
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Commercial real estate still had a pulse last year in the Albuquerque metro area, although the aftershocks of the 2007-09 recession continued to hold back improvements in the bricks and mortar of the economy.
“Jobs. Jobs. Jobs,” said Curtis Brewer of Berger Briggs Real Estate & Insurance. “Until jobs come back in a steady pattern, you will see companies continue to downsize to a more efficient use of space.” |
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| ...read more |
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| Searching for Market Bottom |
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Grubb & Ellis New Mexico, Office Trends Report-Fourth
Quarter 2011,
Prepared by Ken Schaefer |
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| The year ended on a much needed positive note. Three large deals were signed totaling
almost 93,000 square feet. Two of these were expansions of existing office tenants in the
market, Innovasic and the American Red Cross, and the third was for a new customer call
center for Lowe’s Home Improvement Warehouse. This level of new activity has not been
seen in more than two years.
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| ...read more |
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