Industry News

2019 has wrapped up and we are moving rapidly into 2020. The real estate industry in New Mexico has been recovering for the past two years and, nationally, the recovery has been in progress for several years.  Our economy is in the expansion stage of the real estate cycle.

Will we continue on an upward trend in 2020, or is a recession looming?

According to  Peter Linneman,  Doctor of Economics and principal of Linneman Associates, there are several reasons people believe the national recovery is about to end. Some are saying this has been the longest recovery in recorded history so “we are due”.   They also believe business investment activity and confidence are adjusting downward. While concerns like these are true, they do not always tell the whole story. For example, this has been the longest recovery in recorded history, but it has been a very shallow recovery as well. We still have not hit some past peaks, giving us more time in the recovery phase. Business investment activity may be low, but consumers are still spending their money. For these reasons, Dr. Linneman states, “there is no doubt that the recovery will eventually end, but we believe it will continue well into 2020 and perhaps 2021.”

How do these thoughts and trends on the outlook for 2020 apply to New Mexico and our market?

New Mexico’s economy tends to lag behind the national economy by 9 to 18 months.  This lag time is a boon for investors who are able to hold the current national economic conditions in one hand, and use them like a crystal ball for predicting the future economic conditions for New Mexico.  Knowing what’s coming allows for more precise decision making.  Predictions for a future economic downturn in New Mexico hold true to what we have seen in the past.  While New Mexico never gets the “high highs” of an economic upturn, we don’t get the real “low lows” either.  New Mexico’s economic growth is currently fueled by a substantial backlog of construction projects and housing starts, and we would predict the lag time before the downturn to be longer than normal as well.    

This outlook is provided by NAI Maestas & Ward CEO, Debbie Harms, and accounting specialist and blog writer, Ashley Vanaman.  

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.

Click here for the Linneman Letter Winter 2019 Report.

Feliz Navidad presented by Amigo Fiel

Amigo Fiel is a USA 1031(c) 3 Christian non-profit organization founded in 1993 by Carlos Garcia, founder and co-director.  Joel Cumplido serves as co-director of the organization.  Amigo Fiel has a twofold mission: First, we train volunteers from all over the United States to share the gospel of Jesus and to be effective, service-minded individuals in their individual communities.  Thousands of volunteers have successfully participated in Amigo Fiel’s training program, and today we are represented by volunteers serving in over 16 countries around the world. Secondly, volunteers come to serve, love, and train local volunteers in Juarez.

We serve the underprivileged people of Juarez by providing food, education and life skills through our after school program.  Amigo Fiel serves 60 children daily, grades first through sixth.  We also help students seventh grade through college in our homework program, which is designed to provide life skills and strong studying discipline to those in the higher grades.  All students have an opportunity to attend school through our scholarship program, which provides full education and expense coverage for all students in the program.

Amigo Fiel also collaborates with Samaritan’s Purse USA and we serve as the logistics arm to facilitate the crossing of approximately 800,000 gifts yearly for children in the country of Mexico.  We provide services to our community through providing medical supplies and medication to local health organizations, painting and repairing of homes, home construction for families affected by violence, construction of classrooms and repairing of school facilities, providing school supplies, and many other services.

All services in Mexico are provided free of charge in the name of God.

Carlos Garcia is a Managing Partner for NAI Maestas & Ward’s Santa Fe office and Joel Cumplido is an Advisor for the Santa Fe office.  They are experts in commercial real estate and stewards of their community and faith.  

The Pain and Recovery Center has a new location at 1110 Pennsylvania, Suite B

Connecting the right business to the right location just makes sense, especially when it comes to a company that has a direct impact on our community.  We would like to welcome The Pain and Recovery Center to their new location at 1110 Pennsylvania Suite B. 

The Pain and Recovery Center is a locally owned center that has been in operation for about a year. They are expanding rapidly and are moving to new location to accommodate the growing need in our community for support with, outpatient medical detox from drugs and alcohol (14 and older), drug and alcohol assessments, interventional pain management, counseling for groups and individual counseling, medication management (anxiety, depression, ADHD, PTSD, relapse prevention), Intensive Outpatient Program (IOP) and medicated assisted treatment.  They have multiple specialized medical doctors on staff including psychiatrics (psychiatrist) and master-level therapists.

With the mounting opioid epidemic in the State of New Mexico and across the Nation, the Pain & Recovery Center is taking a stand in our local community to make a difference for those afflicted and providing the best patient care possible.

Doors to The Pain and Recovery Center will open at their new location, November 15^th, 2019.

Representing the tenant, NAI Maestas & Ward broker Cozette Hansen, worked with the listing agent, Sean McMullan of McMullan & Company Real Estate to get her client into a space appropriate for their business, which came out to be approximately 1,500 SF. 

“The new location was ideal because it is centrally located with easy freeway access for their clients around the city.  The new space will allow them to grow and support a larger clientele base”, said Cozette.

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.

 

Functional 45 Training has a new location at 5920 Holly Ave. NE.  

Functional 45 Training, otherwise known as “F45 Training”, a new-to-market fitness concept, will be moving into a 2,686 sf suite in a retail center they recently leased at 5920 Holly Ave NE, Suite E, in Albuquerque. 

The transaction has a positive community impact with the immediate creation of 10 jobs and the addition of a global franchise to New Mexico. This is the first of three locations to come to Albuquerque by local franchisees. F45 is currently selling Foundation Memberships with an anticipated Grand Opening of their Northeast Heights gym in January 2020.

The fitness program, based on 45-minute functional training, was originally developed in Australia and has gained support from professional athletes and celebrities, most famously Mark Wahlberg who has been known to pop into classes across the country.   F45 Training merges three separate leading-edge fitness training styles – high-intensity interval training (HIIT), circuit training, and functional training – into one, consummate and compelling group training experience for our members. This fusion has led to the development of 36 unique, 45-minute workout experiences, no workout is ever repeated.

Worldwide there are over 1,800 locations with plans to open more locations in various markets in the coming years. Markets close to New Mexico have seen the successful introduction of this concept including Phoenix, Austin, Denver and Dallas.  Owners Jeremy and Kendall Harris, Albuquerque natives, are experienced business owners and athletes. This concept was a natural choice for them to combine their passion for bringing jobs to New Mexico with the promotion of healthy living.  

“Finding a comprehensive workout that you never get bored doing in only 45 minutes is a winning combination with no excuses, you will love it as much as we do! ”- Kendall Harris

Representing the tenant, NAI Maestas & Ward brokers Alex Pulliam and Isaac Romero, worked with the listing agent, George Chronis, of Pegasus Realty. The addition of F45 Training brings the Holly Place Retail to 100% occupancy. 

“Albuquerque is a physically active city and the strategic addition of F45 validates that the health and wellness industry is as vibrant as ever. Nearby markets are embracing the innovative and effective workouts F45 provides, and it’s good to see us attracting global franchises that are locally owned.” -Alex Pulliam

F45 Training Grand Opening is set for February 8th, 3-6pm.  

Read the Albuquerque Business First article here. 

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.

 

 

EVERY GREAT HAS A STORY
NAI Maestas & Ward is pleased to announce Keith Meyer’s advancement from Senior Director to Partner. We sat down with Keith to learn a little bit more about his career in Commercial Real Estate and who he is inside and outside of the office.

Q. What did you do before you had a career in commercial real estate?

A. Commercial real estate is actually my third career. My first career was in broadcasting where I ran radio stations and this is what brought me to Albuquerque in 1980. My 2^nd career was in a video/film production business.

Q. That’s quite a career/direction change, what made you transition into commercial real estate?

A. While I was working in the video/film business, the parent company of the business came to me and asked if I would like to buy this production company. I thought that was an interesting idea and evaluated it. I quickly realized that, no, I did not want to buy the production company, but it made me think what would I want to buy or invest in. Manufactured housing communities is what rose to the top of the list and I bought one in 1997 and still own it today.

Q. What has changed in the commercial real estate industry since you got started?

A. Commercial real estate is so compelling because it literally changes every day. There’s always a reason to come into work. You may not always like the reason, but there is a reason. It certainly looks different than when I started but it also looks very different than it did even 2 years ago. You have to stay ahead of the market and all the market forces. It is a dynamic and exciting business that keeps you young and mentally engaged.

Q. What upcoming trends are you noticing in the industrial and retail markets?

A. The biggest trend is what we call the “Amazon Effect.” Every retailer is having to recalibrate their marketing efforts to incorporate online sales and determining how best to manage their retail channels to engage with the customers. You are interestingly seeing Amazon move toward a physical presence because they are signing leases in California for Amazon grocery stores and they bought Whole Foods. On the other side you are seeing physical retailers, like Wal-Mart, determining how to utilize their extensive physical distribution system to incorporate online markets while keeping their stores open.

Q. What is the most fulfilling part of being a commercial real estate broker?

A. I always tell young brokers this story. I was at a closing with a woman who was in her fifties and she had tears streaming down her face as she is signing the closing documents. Turns out, this moment was the fulfillment of her grandfather’s promise to his family that he invested in real estate in the 1940s with the expectation that someday real estate would be worth so much that it would be beneficial to his two family members that he had never even met. What this woman was signing was the closing documents on a building that allowed her to quit a job she hated, to put her two kids through private school and start a new business that she was passionate about. She was able to do this, because her grandfather had the foresight to buy real estate. This was a fulfilling and profound moment for me. What we do is not just about space, buildings and land, but about people, goals and ambitions.

Q. What has led to your success in commercial real estate?

A. I think everyone has attributes and because I’ve been in professional sales my whole life, I was able to figure out what I was and was not good at. I am successful in commercial real estate because I am professionally persistent. I stay on a task and continue to work things until there is a final resolution. I always add value to what I do in a professional and positive way. I know I’m not the best-looking guy in the room and may or may not be the smartest, but I know I can be the hardest working.

Q. What would you say is the highlight of your career so far?

A. One of the best things about commercial real estate is that you can have an effect on things long after you are gone. I can’t say there is just one thing that has been the highlight of my career. The big highlight for me is knowing that when I am gone things will hopefully be better than when I was here. I am fortunate to be involved in a number of different kinds of projects that include residential subdivisions, big industrial buildings, retail buildings and vacant land. We have changed the landscape of New Mexico because I have been involved and created value.

Q. What parts of the job do you find most challenging?

A. I tell young brokers that being a commercial broker is easy. All you have to do is know everything there is about everything. There are so many things we get to be experts in like zoning, pricing, purchase agreements, governmental entities, fire codes, etc. That’s what I find the most challenging, having to have that breadth of knowledge to be conversant in all of them and be able to advise your clients accordingly and give them good guidance.

Q. How do you approach risk?

A. Risk in inherent in what we do. There is always fear in change and what we become are change agents. Our responsibility to our clients and the transaction are to identify what the risk is, quantify it and then manage it. It would be misleading to say we can eliminate it because it’s inherent, but we can do is make it so the reward so vastly outweighs the risk that people move forward.

Q. Who has influenced you the most?

A. I would say the person that has had the most influence on me is Steve Maestas. I think he is iconic in our industry and he has allowed me to participate with him in doing many things. As a broker in his firm, as a partner in some business ventures and as a friend on a certain level. He didn’t need to share anything, but he shared everything.

Q. Where can we find Keith on the weekends?

A. One of the things I have learned about myself is that I have a blackbelt in how to work, but I’m not very good at playing. So, one of the things I have worked on over the last few years with some success is how to play. My grandkids are my top priority and all I have to do is be around them and I’m happy.

 

Keith Meyer has over 25 years of experience in commercial real estate brokerage, including industrial, retail, multi-family, office, and land development. Keith has been instrumental in New Mexico’s economic development and has brought significant companies to the state, including Flagship Food Group, NM Transload, and Innovate ABQ.

“Keith’s promotion to Partner is a testament to his tenacity, hard work and perseverance”
– Debbie Harms, CEO, NAI Maestas & Ward

We are proud to have such a talented broker among our ranks. Thank you Keith for your many years of hard work and achievement. Congratulations Partner! 

Here’s what customers are saying about Keith Meyer.  https://sunvista.com/keith-meyer-testimonials/