Zenith Court

The Challenge
Zenith Court is a 50,000 square foot inbound call center building located in Rio Rancho, New Mexico that was a design build for Gateway Computers. Due to a reduction in force, Gateway vacated the building and elected to dispose of the asset. Based upon their objective of quickly disposing of the asset and not to expend any additional capital on the facility, they would not consider leasing the property and then selling to an investor.

The Solution
Our team initiated a broad based marketing program that targeted users, developers, investors and brokers. Through this program we identified a developer from Atlanta that specialized in the building of Call Centers. This developer had relationships with Call Center operators across the country and realized the upside value of this property. The property was purchased and a lease was entered into with Etelecare for the building within a month of closing.

Understanding that this building was a one-off asset located in New Mexico for an investor whose primary holdings were in the Southeastern United States, we approached the Developer regarding the prospect of selling the building. The new owner agreed to list the building for sale. Within a month of listing the building, the building went under contract with a Santa Fe investor that closed on the building less than sixty (60) days later.
 
The property had some additional land that was not in use. We paved a portion of the land to add additional parking for the call-center Tenant and then recently developed and excess parcel as a industrial building to fit a need within the submarket and to take advantage of the under utilized out parcel.

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