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The property was constructed in 2009 and consists of approximately 33,734+/- sf two-story, office building. Build-to-suit for the State of New Mexico – Office of the State Engineer, per RFP specifications.
Investment Opportunity with Upside! • Well located asset with great access and amenities nearby. • Priced below replacement cost. • Existing tenant paying below market rent. • Newer construction (built 2009), Parking Ratio 4.40/1,000 (57 are secure parking). • Building designed for existing tenant but could easily be retrofit for new tenant or multiple tenants.
This property is listed independently and as part of a portfolio, see CARNM #28884318. - Area description: North I-25 Corridor. The subject property is located along the south side of San Antonio Drive NE, approximately 1,000 feet east of the Interstate 25 Frontage Road in the City of Albuquerque, Bernalillo County, New Mexico and is adjacent to State of New Mexico Environment Department, and nearby Hilton Garden Inn, Homewood Suites, Cracker Barrel restaurant and La Quinta Inn. - Class of space: Class B - Tenancy: Single Tenant
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On average, listings lease in the $20's per square foot per year. The Academy Acres North region is experiencing a a boost in rates. In the last 3 months, the median rate increased $22 per sqft per year. That's a Inf% increase in rent.
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