Investment Opportunity: Corrales Overlook Office Condos
June 5, 2010 at 9:07 am | Posted in Property Listings | Leave a commentTags: commercial, condos, investments, leased space, listings, New Mexico, office, office condos, office market, office park, opportunities, real estate, rio rancho, tenants, walt arnold
Corrales Overlook Executive Plaza
1350-1400 Jackie Road SE, Rio Rancho, NM
• Attractive Office Park w/Condominium Units for Sale/Lease (See brochure below)
• Land Size: ±1.88 acres
• Total Bldg. Size: Bldg. 1: ±11,196 sq. ft., Bldg.2: ±12,204sq.ft., Bldg. 3: ±11,196 sq. ft SOLD, Total: ±23,400 sq. ft.
• Sale Price: $145/sq. ft. NOW $119/sq. ft. (shell costs only); 2.5% to outside broker (shell costs only)
• Zoned C-1
• Units also available for lease: $18.50/sf/yr NNN depending on build-out; Lease Term: 5+ years
For terms, features and floorplans, view the brochure below! Email Walt Arnold or Dana Van Doren for more information, or call (505) 256-7573.
Albuquerque Commercial Real Estate Report 4.12.10: Vacancy Solutions
April 23, 2010 at 9:35 am | Posted in Radio Show Reports | Leave a commentTags: albuquerque, commercial, demand, Green 2V, investors, leased space, listings, market report, nonprofits, property, radio show, real estate, recession, rio rancho, sperry van ness, tenants, vacancies, walt arnold
>>> Click here to listen to the Commercial Real Estate Report for 4-12-10 <<<
Bob Clark, News Radio 770 KKOB: Walt you wanted to start with some creative solutions for landlords in helping them fill some “hard to fill” vacant spaces in their buildings.
Yes good morning Bob. Leasing space is difficult these days and some spaces will be or have been vacant for over a year. So here are hopefully some creative alternatives to leasing that might help fill some of those tough vacancies.
First is to consider becoming a patron of the arts. A landlord can donate the space to artists which might create some more traffic to the center or donate the space to a nonprofit and get a tax write off; another creative leasing approach is to sell some of the vacant space. A landlord can create a condo of the vacant and sell the vacant space to help raise cash and diversify risk. Seller financing, if possible, could also make the condo easier to sell.
Another possibility is to look for recession proof tenants. For example, $45 billion was doled out on pets last year. Pet focused companies’ are a good prospect. That pampered pet’s life is looking better and better, I want that life. So look for industries like the pet industry that are recession resistant. So those are a few thoughts that might help get some space leased during these tough times. Give me a call to discuss further.
Bob: Walt you were at the announcement for Green2V in Rio Rancho last week, can you tell us about the new company.
Yes I was at the announcement for Green 2V a solar energy company that will spend $500 million over the next five years and will eventually have 1 million square feet under roof, which is about the size of Coronado center, for a size perspective.
What really struck me about the press conference, was not the over 250 people there, including the governor, a senator, the mayor of Rio Rancho and numerous other state and local officials, but it was the focused effort of the City of Rio Rancho Continue Reading Albuquerque Commercial Real Estate Report 4.12.10: Vacancy Solutions…
Walt Arnold, SIOR, CCIM
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