8509-8519 Jefferson St. NE
Albuquerque, NM 87113
Office Lease Assignment
RECENT CLIENT SUCCESS
UNLOCKING POTENTIAL: HOW STRATEGIC PLANNING LED TO SUCCESS
CHALLENGE8509-8519 Jefferson NE is a 21,600 square foot flex industrial campus consisting of two buildings on 1.93 acres. The property was acquired by an investor as a part of a portfolio of properties purchased from a lender. Shortly after the acquisition of this property, the tenant occupying both buildings vacated the premises.
ACTIONThe investor's objective was to individually sell the portfolio properties for a cumulative price surpassing the portfolio's acquisition cost. To achieve this pricing goal with the 8509-8519 Jefferson property vacant, REA initiated an extensive marketing campaign, coupled with targeted direct marketing to potential owner/users compatible with the property's use.
Negotiations were entered into with an owner/user interested in one of the two buildings. However, the investor hesitated to sell only one building due to the replating process required for the site, which could take several months. Collaborating with the user, a financial analysis was developed demonstrating the investment's returns if they acquired the entire property and leased out the unused building. The user brought in an experienced real estate owner and developer to join in acquiring the property. REA was subsequently retained by the buyer to lease the vacant building.
- The property was sold to the owner/user group at a price aligning with the investor's objectives.
- Within 6 months of acquisition, a lease was initiated with a tenant for the vacant building, meeting the buyer’s requirements and aligning with the buyer’s financial projections formulated during negotiations.
- The uses of the two buildings are complementary.
REA’s market knowledge and relentless commitment were pivotal in unleashing the property's potential. From strategic marketing to collaborative negotiation, REA's expertise shone through, aligning with our objectives seamlessly. This success is a testament to REA's ability to turn challenges into achievements in commercial real estate.