Commercial Real Estate News Blog

Albuquerque Market Review - 2011

2012-02-03T15:00:22Z

Our commercial real estate team specializes in representing owners, landlords, and investors. In difficult real estate cycles, our customers need representation with proven results, regardless of the market condition. Thank you to our clients and customers for the business transacted in 2011. Please continue to visit our website to view today’s available opportunities and stay current on market happenings. Thank you.....John & Tim

Ransom & With | Top Office Brokers in 2011

2012-01-26T23:18:06Z

Thank you to all of our clients and associates for your business and trust in our team. We look forward to many good things to come in 2012...

The Ransom-With Team Sells 23,000+/- SF Investment Property

2012-01-11T15:00:17Z

The 23,000+/- square foot Minato Square, located at 10701 & 10721 Montgomery NE, closed escrow last week. The property consists of a 17,211 square feet of multi-tenant office building and a 6,379 square foot, free-standing restaurant that is currently leased to Pacific Rim. The transaction was very complex due to the multi-tenant nature of the project and the fact that the buyer...

Innovasic Semiconductor Signs New 15,000+/- SF Lease!

2012-01-09T03:34:16Z

Congratulations to Innovasic Semiconductor on their recent signing of a new 15,000+/- square foot office/lab lease at Vista West Business Center, located in the heart of Albuquerque's North I-25 Corridor submarket! An aggressive negotiating strategy was utilized to help Innovasic capitalize on, and realize market-driven concessions while structuring long-term flexibility for its rapidly changing hi-tech business model...

American National Red Cross Leases 13,000 SF at 7445 Pan American Fwy NE

2011-12-21T23:27:31Z

The American National Red Cross has just leased 13,160+/- square feet of office space at 7445 Pan American Freeway NE, owned by Sivage Building Limited Partnership, LLP. The Red Cross will be moving its New Mexico headquarters from 142 Monroe St. NE to its new location in mid 2012. The 26,000+/- square foot building, which is located in the North I-25 Corridor adjacent to the Journal Center, is...

NM Humanities Council Finds a New Home

2011-12-21T22:52:27Z

Congratulations to the NM Humanities Council (NMHC) on the successful closing this week on their purchase of a new 3,250 square foot building located at 4115 Silver Ave SE in Albuquerque's Nob Hill district. NMHC, directed by Craig Newbill, will definitely have a lot to celebrate next year upon its 40th anniversary! Mr. Newbill and the NMHC Board were wonderful to work with and our team (John Ransom, SIOR, CCIM & Tim With, SIOR, CCIM) was very fortunate to represent their interests in the transaction.

Craig Newbill, Executive Director

Founded in 1972, the New Mexico Humanities Council is a private, non-profit organization dedicated to bringing the humanities to public audiences throughout New Mexico.

Labor Market Recovery Rates

2011-12-21T22:48:04Z

Grubb & Ellis examined metropolitan areas with populations of 1 million or more to determine their labor market recovery rates – the percentage of jobs lost to the recession in each market that has been recovered through Nov. 2011. Six of the top 10 markets are in three adjacent states – the four big Texas metros (#2 Houston, #5 Austin, #6 San Antonio and #10 Dallas-Fort Worth) plus #3 New Orleans and #4 Oklahoma City. Energy is a big driver in this region as well as technology in Austin and ongoing reconstruction projects in New Orleans. The other four top markets are in the Northeast: #1 Pittsburgh and, in the 7th through 9th positions, Boston, Rochester, N.Y. and Washington, D.C. Education and healthcare are big drivers of growth in these metros plus energy in Pittsburgh and the public sector and related non-profits and consultants in Washington, D.C.

At the other extreme, Birmingham, Ala. has not recovered any jobs while the recovery rates in Cleveland and Atlanta are just 2 and 4 percent, respectively. The recovery rate in the U.S. overall is 28 percent. Look for continued, modest expansion in the labor market next year at roughly the same pace as 2011 – 125,000 net new payroll jobs per month. Metros with above average shares of energy, commodity, health care, education and technology businesses should grow more rapidly than average.

FOR SALE - Freestanding Office / Retail / Industrial Building

2011-12-16T17:55:07Z

4900 Menaul Blvd NE (Click here for Marketing Brochure) (Click here for Floor Plan)

Space Available: 24,710+/- Square Feet

Sale Price: $2,250,000 ($91.00/SF)

Clear Height: 13'

Parking: 5:1000

Acres: 1.5 Acres (65,352 SF with 175' of Menaul Blvd frontage

Billboard Sign: 15-year lease with Clear Channel

Tim With, SIOR, CCIM - 2011 CARNM Realtor of the Year

2011-12-16T16:39:15Z

Moving on Down

2011-12-09T22:04:56Z

Weekly initial jobless claims fell to 381,000 in the week ending December 3^rd. It was the lowest level since late February and much better than economists’ average expectation of 395,000 in a survey by Bloomberg. The four-week moving average was 393,250, its fourth consecutive week below 400,000. Initial claims below 400,000 signal that the labor market is growing, exerting downward pressure on the unemployment rate.

In another positive economic sign this week, wholesale inventories surged by 1.6 percent in October, pointing to some forward-looking optimism on the part of businesses. The growth in inventories will provide a boost to fourth quarter GDP.

Lastly, Grubb & Ellis expects vacancy rates across all property types to decline in 2012. Details will be forthcoming in our 2012 Forecast report, which will be released on January 3^rd.