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COVID-19 Business Resources

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The team at NAI Maestas & Ward is committed and connected to our clients and community during these unique times.  We have been designated an essential business and as such will remain open, sensible and proactive in our approach to ensure business continuity. Our advisors and property managers are staying up to date with market trends, best practices, and real estate solutions.  We are here to help you navigate the future market of commercial real estate.  To support the many businesses that are being affected by the COVID-19 pandemic, we have rounded up the following economic and health resources:

Mosaic: COVID-19 Rapid Response Infrastructure RFP

Mosaic has launched an open RFP to make rapid response grants to nonprofit grassroots organizations focused primarily on environmental protection or environmental justice. Learn More

LISC Small Business Grant Program

LISC is one of the country’s largest social enterprises supporting projects and programs to revitalize underserved communities and bring greater economic opportunity to residents. Learn More

Business and Industry CARES Act Program

USDA is making available up to $1 billion in loan guarantees to help rural businesses meet their working capital needs during the coronavirus pandemic. Additionally, agricultural producers that are not eligible for USDA Farm Service Agency loans may receive funding under USDA B&I CARES Act Program provisions. Deadline: September 15, 2021, or until funds are expended. Learn More

The Manufacturing Extension Partnership (MEP)

The Manufacturing Extension Partnership (MEP) has partnered with the Departments of Transportation, Energy and Defense as well as the National Institute of Standards and Technology (NIST) to focus on finding business opportunities for small manufacturers by matching their capabilities with the supply chain needs of America’s original equipment manufacturers. Learn More

Preparing for Building Re-Entry

On April 16, 2020, the White House issued “Opening Up America Again,” federal guidelines to reopen the U.S. economy through a three-phase approach. As State and local governments also begin to create their own framework to gradually lift stay-at-home orders, it is important for businesses to be prepared.  Click here for BOMA International’s guidance document for preparing buildings for re-entry. 

New Mexico Economic Development Dept. Announces Quarterly Reports to Help Track COVID-19 Related Economic Data by County

SANTA FE, N.M. – In an effort to better understand the impacts of the COVID-19 health emergency and analyze economic changes around the state, the Economic Development Department is now publishing quarterly data reports for all 33 New Mexico counties, Cabinet Secretary Alicia J. Keyes announced today.

The reports for part of fiscal year 2020 are now available in 33 individual county files on the EDD website here

Next Round of PPP Loans SBA Funding Opens Again Monday, April 27, 2020

Starting Monday morning, the SBA’s PPP loan program sets aside $60 billion for small lenders. So if big banks are backlogged, submit another application with a community lender.

More info here

Resources from the State of New Mexico

On March 13, the New Mexico Economic Development Department, Department of Workforce Solutions and Department of Health hosted a webinar to help organizations in New Mexico understand the tools and resources available to businesses as they navigate COVID-19.

Watch the webinar to learn more

Business Loan Guarantee Program

Help for Businesses Negatively Impacted

The New Mexico Economic Development Department has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19. NMEDD can guarantee a portion of a loan or line of credit up to 80 percent of principal or $50,000. Loan proceeds are flexible and can be used for things such as working capital, inventory, and payroll (to name a few). The way it works is that the borrower approaches the lender; the lender applies for the program; the lender and NMEDD sign an agreement; the lender makes a loan, and NMEDD guarantees the loan in case of default.

Visit NMEDD’s website for more information.

How to Communicate During a Crisis

Disruption can make people feel nervous and fearful, leading to challenges in the workplace. Here are some tips and tricks for how you can best communicate during a crisis:

 

COVID-19 Quick Resource Guide to Display in your Business, from the Center for Disease Control

Communications, Coverage and PR Best Practices, from PRNews

Six Guidelines for Effective Employee Communications, from the Public Relations Society of America

Why Today’s Brands have an Obligation to Act, from Agility PR Solutions

Best Practices for Communication Event Cancellations, from Harvard Business Review

New Mexico Economic Rapid Response Taskforce

The New Mexico Economic Development Department, Department of Workforce Solutions, Tourism Department and Office of the Governor created a cross-agency collaboration called the Economic Rapid Response Taskforce to act as a clearinghouse to enhance communications between businesses and resources being offered by the State of New Mexico. The Business Rapid Response online submission form was created so that businesses can submit questions, challenges, and feedback. All submissions will be reviewed and filtered to the appropriate agency, where you can expect a timely response.

NAI Maestas & Ward is a full-service commercial real estate company serving New Mexico since 1996. The company is a dynamic commercial real estate firm offering best-in-class real estate services in brokerage, property management, asset management, business brokerage and development services.

NAI Executives Report from the Front Lines of the Coronavirus

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By Erika Morphy of GlobeSt.com
April 1, 2020

The impact of the health crises on the commercial real estate industry has dramatically changed the industry’s landscape within the space of 30 days. With April getting underway, four NAI executives offered their perspectives on the impact of the pandemic and how they are addressing the challenge. These NAI officers have some of the biggest portfolios of managed properties in the company.

Brokerage Deals

“Most transactions near fruition are still being signed, with some tenants asking to push back start dates post stay-at-home orders, or landlords asking to push back on start dates when construction may be needed by the landlord as part of the deal. Other in-process deals are taking a ‘wait and see’ approach before they sign and some early stage deals are now frozen,” according to NAI Farbman President Andy Gutman, from Detroit, MI.

Dave Petersen, CEO of NAI Hiffman in Chicago echoed Gutman’s sentiments, adding that “it is a great moment to solve lease issues with rent requests that could include blend and extend term, adding personal signatures, gain improved security or other landlord rights as part of a negotiation. Empathy is important but the request for relief should not be a one-way discussion either.”

In Albuquerque, NM, “we are seeing some tenants ask to go month-to-month, as well as many deals going unsigned, with others stalling deals to the degree possible due to uncertainty,” said Debbie Harms, CCIM, SIOR, CPM and CEO of NAI Maestas & Ward.

Petersen pointed out, however, that “there is a great amount of focus being placed on electronic showings whether that’s the use of video conferencing platforms or actual video tours of the space available. Tenants still need space today and we have to use all tools at our resources to help the tenant and our clients to close transactions.

Click here for the rest of the Globe St. com article featuring rent relief, development slowly proceeding and what to do.

NAI Maestas & Ward is a full-service commercial real estate company serving New Mexico since 1996. The company is a dynamic commercial real estate firm offering best-in-class real estate services in brokerage, property management, asset management, business brokerage and development services.I

Supporting Small Business

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Supporting small businesses within our community is as important as ever.  In addition to purchasing a portion of a tenant’s overstocked perishable inventory for our clients Elixir Boutique Chocolates, NAI Maestas & Ward has committed to purchase lunch from local restaurants for those still working in our office.  Dion’s, Jimmy’s Café, Dave’s Valley Grill, El Patron and Mario’s have fed our company family for the past week.  We will continue to promote our lunch providers on our social platforms and encourage others to do the same.

Do you know of a local restaurant that could use our business?  Contact marketing@sunvista.com today.

Please continue to support local restaurants during this very unique time by using these resources found here (Restaurants and Businesses updated daily) https://bit.ly/2J5cgfu

 

Keep Calm and Eat Chocolate

 

NAI Maestas & Ward is a full-service commercial real estate company serving New Mexico since 1996. The company is a dynamic commercial real estate firm offering best-in-class real estate services in brokerage, property management, asset management, business brokerage and development services.

Cannabis-Friendly States Get A Boost in Commercial Real Estate

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Already there are 33 states and the District of Columbia that have legalized marijuana use in some form. Many of these states, like New Mexico, allow for medical use. According to a recent article, dispensaries in New Mexico have sold more than one hundred twenty million dollars of medical marijuana in 2019. In that time, nearly 90,000  New Mexicans are now certified to buy medical marijuana.

While the debate of whether to legalize marijuana – medicinal or recreational – is heated, there is one aspect of this topic that is clear. The demand for the production and sale of medical marijuana is evident, both locally and nationwide. And for cannabis-friendly states, the demand for commercial real estate is on the rise. What does this mean for commercial real estate here in New Mexico? Let’s take a look at a few key points.

Increased Demand for Both Commercial and Residential

States, where medical and recreational marijuana is legal, have seen increased property demand in both the commercial and residential sectors, according to a new study by the National Association of Realtors. The study also revealed that more than a third of real estate professionals polled said they saw an increase in requests for warehouses and other properties used for storage. In the same states, up to a quarter of members said they saw a spike in demand for storefronts, and one-fifth said there was a greater demand for land. States, where marijuana has been legal the longest, have seen the largest impact on both commercial and residential real estate.

Chris Anderson, Senior Advisor for NAI Maestas & Wards Retail Division who recently represented the Seller of a property being sold to a Medical Marijuana company, on the subject: “Properties that are not within a radius of a church or school have a niche that many owners may want to look at either leasing or renting to medical cannabis users as this business is set to boom.” –

 

Portland-based Facebook subcontractor to expand with ABQ office

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By Ron Davis – Technology reporter, Albuquerque Business First
February 7, 2020

Western Partitions Inc. is set to make its play in New Mexico by breaking ground on a new office space.

The Portland, Oregon-based drywall contractor that worked on Facebook’s Los Lunas data center plans to expand its full-time New Mexico operations by breaking ground Wednesday on a 9,000-square foot, at 511 Paragon Road SE.

Click here for the rest of the Albuquerque Business First story.
Learn more about Western Partitions and the future they see for New Mexico, click here.

“I believe that the opportunity for WPI to build in this location is not only as a direct effect of the Facebook impact in Los Lunas, but is also a direct result from the lack of industrial inventory in the Albuquerque market. This land is not only zoned for their use, but also has easy access to I 25. This property has gained much velocity as a result of those two factors…. in fact the 2 acre plot of land just to the west of WPI‘s property was sold in December because of the lack of inventory easily accessible to the interstate.” –Todd Strickland, NAI Maestas & Ward Director with the Office Team.

Expanding Horizons and Making Connections

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Keith Meyer, CCIM, SIOR, recently expanded NAI Maestas and Ward’s real estate horizons with the referral though affiliated NAI KRAIN of Guanacaste, Costa Rica on a coffee and avocado farm in Grecia Costa Rica.

Jeff Goode of NAI KRAIN will be the Listing Broker, working with owners Dave and Angela Wohlert on the sale of their 10-acre coffee and avocado farm with support buildings and an 1,800/SF residence. Dave and Angela split their time between their East Mountain Albuquerque home and their farm, which is 5,000/SF up in the Costa Rica mountains overlooking the Central Valley.

“It has been a tremendous learning and life experience,” said Keith Meyer. “While there are many similarities in real estate practice between the two countries, there are also some profound differences.” As an example, there is no Title Insurance as we know it in Costa Rica. There is a 13% transfer tax as well.  And everyone communicates using WhatsApp.

“Learning about the coffee and avocado business and processing was also fascinating. Because of the high altitude of this farm, they are doing some experimental work on new coffee strains for some of the leading global brands we all know.”

“It is a great part of our industry we can work with professionals and companies from all over the world, and I expect to see more of this in the future.”

Relationships are vital in commercial real estate – the best brokerage firms leverage them.

About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 375 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 6,000 local market professionals, managing in excess of 1.15 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Maestas & Ward Commercial Real Estate completed 408 commercial transactions in 2019 for a total commercial transaction value of $321 million. 

Sustainable textile manufacturer to open NM production facility

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By Collin Krabbe – Technology reporter, Albuquerque Business First
January 24, 2020

A textile manufacturer is bringing production to New Mexico following an expansion.

Green Theme Technologies Inc., which is working to commercialize a sustainable and more effective method of textile production, is looking to start production in Rio Rancho following a move into a 7,500 sf space, 4132 Jackie Road.

Click here for the rest of the Albuquerque Business First story.
Learn more about Green Theme Technologies and the future of textiles that is water-free.

“NAI Maestas & Ward Advisor, Riley McKee led the effort to find the appropriate site for Green Theme Technologies, 4132 Jackie Road.  In a tight market, he was able to find an uncompromised solution which we believe will allow this industrial manufacturer to flourish.  We have also created a wonderful opportunity for the cash flow minded investor to purchase the entire deal.” – Jim Wible, NAI Maestas & Ward Director with the Land and Industrial Team. 

NAI Maestas & Ward Advisors, Keith Meyer, Jim Wible, and Riley McKee worked with both Green Theme Technologies and the landlord to finalize this lease. 

The property is now on the market for sale, presenting a compelling opportunity for investors seeing high-quality industrial assets with strong credit tenants. 

 Click here to see the property flyer.   

 

NAI Global announces the 2019 OFFICE OF THE YEAR award at annual convention

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Press Release by NAI Global through The News Funnel (Real Estate News, Personalized)

New York City, NY – September 30, 2019: Jay Olshonsky, SIOR, FRICS, President and CEO of NAI Global, a leading global commercial real estate brokerage firm, today announced the top-performing offices and top-producing brokers/brokerage teams for the year during its annual convention, which this year was in Las Vegas.

The office awards include Office of the Year, the #1 Sender of Business and the President’s award, with one award each for the five types of markets served by NAI Global.

NAI Maestas & Ward, based in Albuquerque, New Mexico, garnered the Office of the Year Award for the manner in which the office promotes the brand, drives business, engages with fellow professionals and provides leadership within NAI Global’s structure.

NAI Maestas & Ward CEO, Debbie Harms, CCIM, SIOR on the award: “It really is quite an honor to have received this award.  Our office is doing great things with our NAI Global affiliation to aim at maximizing the potential of a local brokerage with national and international reach.  Our marketing department has done some amazing things to promote our business and is a big part of our receiving this award for our first-in-class marketing materials. ”

NAI Maestas & Ward Marketing Director, Genieve S. Posen, MLA on the award: “The excitement is still setting in.  It is wonderful to see our company’s leadership and marketing efforts being recognized on a national/global scale.  As a marketing department, we have worked hard, diligent and smart to provide a vital role in promoting the business and mission of NAI Maestas & Ward.  We are passionate about the storytelling and marketing of our company, our community and clients.”  

About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 375 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 6,000 local market professionals, managing in excess of 1.15 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.

To learn more, visit www.naiglobal.com or www.naiglobalnewslink.com

NAI Maestas & Ward Commercial Real Estate completed 443 commercial transactions in 2018 for a total commercial transaction value of $263.04 million. 

 

New Mexico: Opportunity Zones are Knocking

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By Bruce Krasnow – Public Information Officer, NM Economic Development Department
August 7, 2019

SANTA FE, N.M. – The New Mexico Economic Development Department (NMEDD) has unveiled a new website so local governments, investors, businesses, and property owners can take advantage and connect with Opportunity Zone resources.

The state, along with NMEDD, designated 63 Opportunity Zones in 22 counties as part of the U.S. Government’s Tax Cuts and Jobs Act of 2017. The purpose of the tax law is to attract capital investment into economically distressed areas in exchange for a reduced tax obligation.

“The Opportunity Zone program has the potential to transform parts of New Mexico and impact communities for generations to come,” said Cabinet Secretary Alicia J. Keyes of the New Mexico Economic Development Department. “The state is working to educate and assist all 63 designated tracts to create an ecosystem that is open and ready for investment.”

“The investment zones are a priority for Gov. Michelle Lujan Grisham and NMEDD is working with the Governor to offer additional incentives so that New Mexico can be a leader in offering assistance and options,” said Keyes.

One example of an Opportunity Zone (OZ) project is the redevelopment of a warehouse property near downtown Albuquerque into a production studio operated by NBC Universal Studios. Owned by Garcia Realty and Development, the project at 1601 Commercial St., NE, 87102 will be the cornerstone of NBC Universal’s New Mexico audiovisual operations.

Both the state of New Mexico and the city of Albuquerque are providing economic development grants. NBC Universal, in turn, has promised to spend $500 million on production and hire 330 full-time employees. The economic impact of the redevelopment is estimated at $1.1 billion over a decade.

The project will generate significant economic impact in the greater Albuquerque area and also function as an anchor tenant in a designated Opportunity Zone, potentially triggering additional direct investment in the community, according to a recent economic analysis by NMEDD.

NMEDD has created an online hub to facilitate the connection between resources and projects at all stages of development. Information is available for investors, businesses, communities, and partners. The website includes a map to geographically search for Opportunity Zone projects in specific counties, searchable project pipeline, and a list of Opportunity Funds at www.nmopportunity.com.

Projects can be submitted to the NM OZ Project Portal. The projects are vetted by NMEDD, summarized and sent out to an email distribution list comprised of resources, investors, funding agencies and local governments. In addition, projects are connected to FundIt-Community, an inter-agency task force of state and federal funding agencies. Those interested in participating in Opportunity Zones can also contact Johanna Nelson by email with questions.

Entities interested in signing up for the email list can do so on the website here.

The Economic Development Department is sponsoring an Opportunity Zone Forum from 7:30 a.m. to 2 p.m. on Aug. 27 at the National Hispanic Cultural Center, 1701 4th Street SW, Albuquerque. 

The NMEDD’s Finance Development Team (FDT) is also offering quarterly webinars to answer questions and provide news updates on Opportunity Zones best practices. All webinars will be announced on the website and available online after the live event here.

For more information, visit www.nmopportunity.com or email opportunity.zones@state.nm.us.

Construction begins on new shipping container project

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By Christopher Ortiz, Managing Editor, Albuquerque Business First  |  June 11th, 2019

Seven months after its groundbreaking ceremony, construction has begun on Albuquerque’s second shipping container project.

Crews are set to begin pouring foundation at Tin Can Alley at the corner of San Pedro and Alameda, reports KOB.

Developer Roy Solomon, who also developed Green Jeans Farmery, originally eyed a July opening but now construction is expected to be completed in early 2020, reports KOB.

Solomon told Business First in November that Tin Can Alley will be 11,000 square feet and tenants include Santa Fe Brewing Co., Amore Neapolitan Pizzeria, Rustic Star Burgers and a Vietnamese restaurant. Restaurateur Erin Wade announced she is planning a new Vinaigrette location and another restaurant concept on adjacent lots. Stone Age Climbing Gym also announced plans for a new location next to Tin Can Alley.

Albuquerque-based Snyder Construction is the general contractor and Joe Slagle is the architect. Nusenda Credit Union is providing the financing, Solomon said in November. The project’s price tag wasn’t immediately available. Like at Green Jeans, Santa Fe Brewing Co. will have a taproom and serve as one of the project’s anchors, Brian Lock, president of Santa Fe Brewing, confirmed with Business First in the fall.

“We’re looking to take a beautiful site and create a heartbeat,” Solomon said back in November.

Solomon said the development will provide around 300 jobs and said he hopes it will see $14 million in annual revenue.

Brett Hills, NAI Maestas & Ward Partner, represented developer, Roy Soloman, and  Jim Hakeem, NAI Maestas & Ward Director, represented the landowners in this landmark project at San Pedro and Alameda in the NE Heights. 

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