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| News Blog March 22, 2011 -
Trends in the Albuquerque Office Market I have completed several lease transaction in the first quarter with out-of-state businesses that are establishing new offices in New Mexico. One is a computer service company based in Arizona. Another is a chiropractic group based in Florida. A third is a commercial cleaning firm based in Texas. Although three leases don’t necessarily establish a trend, I am encouraged that businesses are discovering New Mexico and deciding that it is a market worth penetrating. March 20, 2012 - Outstanding Commercial Real Estate Loans All Commercial Banks, Seasonally Adjusted Need more information? Contact: March 16, 2012 - March Madness Lite
March 15, 2012 -
Albuquerque-based Gold Silk Inc expands into the North I-25 Corridor Gold Silk Inc successfully negotiated a lease for a freestanding, 8,200 office/flex building in the North I-25 Corridor located at 3820 Commons Ave NE. Established in 1985, the founder and current owner of the company, Nasib Thabet, has grown the business to become a leader in the design and creation of women's jewelry collections with universal appeal. The Ransom-With team assisted Gold Silk Inc with market advisory and site selection services. Several locations were considered but the centralized North I-25 Corridor location and identity and configuration of the 3820 Commons Ave NE building were deciding factors in the ultimate selection of the site. "Mr. Thabet's vision and business acumen were integral in working through the decision process. He clearly communicated his needs and goals and was very involved throughout the transaction enabling us to work efficiently and negotiate a competitive deal that offers both flexibility and future acquisition rights.", said John Ransom. March 7, 2012 -
Ann Silva's Sewing Center moves to 4520 Alexander Blvd NE Established in 1980, Ann Silva's Sewing Center will be relocating its retail sales, service and training center at the end of March to 4520 Alexander Blvd. NE, which is located in the Renaissance area. Ann Silva is the Albuquerque market leader in providing Bernina sewing equipment, supplies and training classes for sewing enthusiasts. Their new 7,000 square foot space will offer a centralized location for their customers, providing convenient access to the east and west sides of the city. LA Boxing, Raby's Carpet Warehouse and Floor Mart, are other businesses currently in the multiple-tenant building.
February 28, 2012 -
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, La Vida Vista Property, LLC (an entity owned by retirement community owner/operator La Vida Llena), assumed an underlying loan held by a life insurance company. The motivation behind La Vida Llena's acquisition of the property was a combination of its steady income and tenancy history, along with the fact that they are a tenant in the project and own several retirement communities within the immediate area.
Minato Square was originally constructed and owned by Minato Corporation in the mid 1980's. For almost 20 years, Minato operated a well-known traditional sushi and steak restaurant, named Minato of Japan. John Ransom, CCIM, SIOR and Tim With, CCIM, SIOR worked as transaction brokers on behalf of the seller in the transaction. Our team has been involved on the only two sales of the property since it was developed. www.RansomWith.com
February 15, 2012 -
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.
Click here to view the YouTube video for 7445 Pan American Freeway NE
January 31, 2012 -
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
January 15, 2012 -
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! The team of John Ransom, CCIM, SIOR and Tim With, CCIM, SIOR worked as transaction brokers with Keith N. Prettyjohns (Chief Executive Officer) and Christiane Bougen (Director of Finance) of Innovasic through the site selection, Request for Proposal (RFP), and lease negotiation processes. "We were very fortunate to work with the leadership team of one of Albuquerque's finest hi-tech companies and advise them on their space needs. It is exciting to see an Albuquerque-based company excelling in a very competitive global market.", said John Ransom. Innovasic Semiconductor was founded in Albuquerque, NM in 1992 and has grown into a global supplier of electronic components, producing integrated circuits for customers with long product life-cycles including industrial, transportation, instrumentation, and medical applications.
December 28, 2011 -
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November 22, 2011 -
Office landlords counting their meager gains this year may want to consider a career change into agriculture. The American Robert Bach November 22, 2011 -
Congratulations Tim With, CCIM, SIOR, the 2011 CARNM Broker of the Year
November 21, 2011 -
In October, I was honored as the #2 broker at Grubb & Ellis|New Mexico. This is especially rewarding when you consider that most of the top brokers are involved in large, multi-million dollar transactions. November 20, 2011 -
Langis Wholesale, headquartered in Hogansburg, NY, recently moved into a 10,000+/- square foot distribution space at 2801 Broadbent Parkway NE. Langis Wholesale’s new Albuquerque operation will serve as a sales and marketing branch for distribution of its premium tobacco products that are sold throughout the United States. “Langis Wholesale selected Broadbent Business Park to house its NM distribution operations due to the its central location, immediate access to I-25 and I-40, and close proximity to the ABQ International Sunport.” said Tim With, SIOR, CCIM, the Grubb & Ellis broker who handled the transaction on behalf of the landlord. November 19, 2011 -
Kinesio Taping, headquartered in Albuquerque, NM, recently expanded into an 11,000+/- square foot warehouse/distribution space at 2801 Broadbent Parkway NE. The new space will be utilized for the manufacturing and packaging of their Kinesio Therapeutic Tape. Kinesio has been breaking new ground in sports performance, pain management and physical therapy, and its tape is used to successfully treat a variety of orthopedic, neuromuscular, neurological and medical conditions. According to John Ransom, SIOR, CCIM, the broker who handled the transaction on behalf ofd the landlord, “In an economy that has seen many ups and downs in recent years, it is refreshing to see an Albuquerque-based company seizing an opportunity to reposition its operations into a larger, more efficient space that will help expand the production of their unique products.” November 18, 2011 -
The economy may be sluggish, but Grubb & Ellis researchers have been anything but as we crank out our year-end Forecast reports. We've been uncovering some upbeat market intelligence along the way. For example, the West South
November 15, 2011 -
"More Industrial space emptied out during the thlnl quarter In the Albuquerque metro area, reflecting In bricks and mortar the continued sluggishness In the local economy. About 164,000 squarefeet ofspace went dark in warehouses, assembly plants and other blue-collar buUdlngs, pushing the Industrial vacancy rate up from 9.4 percent In the second quarter to 9.9 percent In the thlrd, according to Grubb & Ellis New Mexico's latest Industrial Market Trends Report..." FULL ARTICLE Grubb & Ellis | New Mexico 3rd Quarter Industrial Trends November 11, 2011 -
Gross domestic product, the broadest measure of goods and services produced in the U.S., grew at an annualized rate of 2.5 percent in the third quarter, allaying fears of an imminent recession. Investment in business equipment and software surged ahead at a 17.4 percent clip followed closely by non-residential structures at 13.3 percent. Personal consumption expenditures, which accounts for 70 percent of GDP, grew by 2.4 percent, its best showing since the fourth quarter of last year. If consumers stay in the game, the economy should be okay. Growth is still not strong enough to bring down the 9.1 percent unemployment rate; GDP of 3 percent or better is needed for that. But the economy is defying low levels of consumer and business confidence triggered by last summer’s debt ceiling debate in the U.S. and political dithering in Europe.
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After dropping for 35 consecutive months, the value of commercial real estate loans held at U.S. banks increased in February. CRE loans fell from a peak of $1.73 trillion in December 2008 to $1.41 trillion in January 2012, a decline of 18 percent, before rebounding slightly to $1.43 trillion last month. Not only are banks making more CRE loans, their delinquency and charge-off rates are coming down, indicating that banks increasingly view commercial real estate as a creditworthy and profitable asset class. The 30-day delinquency rate on bank CRE loans, which peaked at 8.78 percent in the second quarter of 2010, fell to 6.12 percent in the fourth quarter of 2011, while the charge-off rate declined from 2.87 percent in the fourth quarter of 2009 to 0.95 percent in the fourth quarter of 2011. Other lenders including CMBS and insurance companies are expected to ramp up their deal volume in 2012, which will support the expected 25 to 50 percent increase in the value of investment transactions this year.
Farm Bureau reports that the average cost of the ingredients for a turkey dinner with all the trimmings large enough to feed 10 people this holiday season is $49.20, a robust 13.2 percent increase from Thanksgiving 2010 and the sharpest one-year gain since 1990. Blame it on the turkey, which leaped in price by 22 percent, assuming turkeys can leap at all. This is well above the 4.7 percent gain in food prices for the 12 months ending in October and also ahead of the 3.5 percent gain in the Consumer Price Index for All Urban Consumers according to the U.S. Bureau of Labor Statistics. Farmers are doing better than office landlords, who have been unable to push through any rent increases this year with the exception of those fortunate few owning Class A properties in the San Francisco Peninsula, Manhattan and a few other hot markets. Better to own irrigated cropland in the Federal Reserve's 12th District (San Francisco), which soared in value by 35 percent over the four quarters ending in June or the Fed's 10th District (Kansas City), where prices gained 27 percent. Oliver and Lisa Douglas had it right after all. 
Central region - Texas, Oklahoma, Arkansas and Louisiana - has recovered 82 percent of the jobs lost during the Great Recession compared with the national average of 25 percent, giving it the strongest momentum of any region in the country. Oil and technology, big drivers of global growth for the next few years, are powering the region's metropolitan areas including Houston at 92 percent and Austin at 121 percent, making it the nation's only large metro to surpass its pre-recession peak.
n the value of their holdings, which will bring down Greece’s debt burden from about 150 percent of the nation’s GDP to 120 percent by 2020 – still above the danger zone threshold of 90 percent. The €440 billion bailout fund known as the European Financial Stability Facility will be leveraged with funds from private investors, and it will be used to partially guarantee new bond issues from struggling governments in order to keep their borrowing costs manageable. In addition, European banks will be required to boost their capital ratios to help insure against losses from their sovereign debt holdings. Details remain murky, and some analysts wonder whether the plan can calm the financial markets for more than a few days, but it is the most serious step yet by European officials to get ahead of their sovereign debt crisis.