RealINSIGHT Marketplace and CBRE Capital Markets are pleased to present the sale of the ABQ Portfolio, a 144,572 square-foot suburban office portfolio comprised of three buildings in Albuquerque, New Mexico (the “Property” or “Portfolio”) seven miles from downtown. The three properties in Albuquerque include 6301 and 6401 Jefferson Street, two fully occupied single-tenant office buildings both built in 1997 and 5601 Office Boulevard, a 74% occupied office building with two major tenants also completed in 1997.
The overall portfolio occupancy is 89%, and 92% of its in-place cashflow comes from investment grade tenants. Lowe’s, who occupies both Jefferson properties, represents 62% of the portfolio cashflow with an S&P credit rating of A- & Moody’s credit rating of A3. Quest Diagnostics, occupying 56% of 5601 Office Boulevard, represents 30% of the portfolio cashflow with an S&P credit rating of BBB+ & Moody’s credit rating of Baa2.
The offering presents a unique opportunity for investors to purchase a portfolio with significant in-place cash flow with institutional grade tenancy in addition to upside potential through additional lease-up of the remaining vacant space and lease renewals with existing tenants.
The properties have flexible floorplates designed to accommodate a variety of users with the added benefit of above market parking with over 9 spaces per 1,000 square feet at the Jefferson properties.
The fee-simple offering presents investors with the opportunity to acquire a diverse portfolio of suburban office assets at an attractive basis that provides sustainable in-place cash flow.
Sachs 5th Real Estate and Auction
Lorraine Sachs Garcia
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
5601 Office Blvd NE, 6301, 6401 Jefferson Street NE, Albuquerque, NM 87109
Platform fee for this transaction is 5.00% or a minimum of $25,000.