CBRE Arranges Sale of Albuquerque Office Portfolio

04 Dec 2018

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CBRE completed the sale of ABQ Office Portfolio a 144,770-square-foot suburban office portfolio located at 6301 Jefferson, 6401 Jefferson, and 5601 Office in Albuquerque, New Mexico. The buyer, Radix Equity, purchased the three-building, multi-tenant property through an auction process on August 2, 2018.  

Tom Jenkins and Barbara Cuoco with CBRE Capital Markets Investment Properties in Albuquerque, along with CBRE’s National Loan & Portfolio Sale Advisors in New York City represented the seller in the transaction.  

“The quality of the project and the high-caliber tenants occupying the properties attracted interest from investors across the country,” said CBRE’s Jenkins. “In addition, the scale of the project provides an investor with the opportunity to enter the Albuquerque market with a significant presence.” 

The ABQ portfolio is comprised of three Class A office buildings that were built between 1997- 1999. The properties are situated along Interstate 25 in the desirable North I-25 submarket. The portfolio is 92% occupied with an excellent tenant mix. Lowe’s represents 62% of the portfolio and Quest Diagnostics represents 30%.  All three properties feature quality improvements, high architectural standards and two of the buildings have above average parking ratios.  

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.