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Local High-Tech Manufacturer Makes a Big Move

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By Collin Krabbe – Technology reporter, Albuquerque Business First
October 1, 2019

High-tech manufacturer 3D Glass Solutions held an event Tuesday celebrating its move to a facility several times larger than its previous one. And it may expand even more than originally planned.

The company, which is slated to create up to 139 jobs over five years as part of the move into the new space, will have two largely unused rooms in its new building, 5601 Balloon Fiesta Parkway NE, to grow its production lines and offices.

Click here for the rest of the Albuquerque Business First story

Senior Director Keith Meyer on the topic: “3-D Glass is on the front edge of the emerging industries being developed in New Mexico that have global applications. We are pleased to be a part of the public/private partnership that is helping facilitate this company’s growth and especially excited that 3-D Glass’s tripling in size also means they will be tripling their number of employees.”

Director Jim Wible on the topic:“We took 3-D Glass through a site selection process to help them find a building that was uniquely capable of meeting their processing needs, that would otherwise not be available in other industrial buildings currently in our market.”

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. 

 

Second time is the charm for Revolution Bakery

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By Teya Vitu | tvitu@sfnewmexican.com

The second revolution is about to start for baker Dionne Christian.

She is bringing back the gluten-free Revolution Bakery that shut down in April 2016 after four years on San Felipe Avenue, just off the 1800 block of Cerrillos Road.

“I had a health concern I was dealing with,” Christian said about closing the first bakery. “I’m at 100 percent now.”

The new Revolution Bakery is expected to open in the first half of July in the former space of The Kitchen at the Design Center, 418 Cerrillos Road.

“The location is good,” Christian said. “It’s in the central business district of Santa Fe. You can see the Rail Runner station from the parking lot.”

The Revolution Bakery may have been down for three years, but 2,200 people remained Facebook friends on the Revolution account, where Christian has been hinting a return of the bakery since February without disclosing a location.

“I have been honing my skills, making sure I’m ready for the moment,” Christian said. “When I first put recipes together for breads and pastries, they were good. Now I think I have gone beyond that. I consider myself an expert dough developer. Now it tastes like the real thing I’m trying to impersonate.”

Revolution Bakery will offer 16 breads including brioche, cinnamon raisin, and sweet onion pumpernickel, with eight breads gluten-free and eight-breads gluten-free and vegan. The samplings on the pastry front include muffins, cinnamon rolls, brownies, lemon bars, and fritters — in all, a rotating menu of 14 gluten-free pastries.

New for the second Revolution will be subscription boxes. People can put in an order online and pick up the box at the drive-up window on Saturdays from 8 a.m. to 2 p.m. Christian is targeting people who live in Taos, Los Alamos and Albuquerque with the subscription boxes.

“There are so many people who are not local in Santa Fe,” she said, adding that at a later date she might establish pickup spots in those cities, but for now she wants to make it easy for visitors to drive up and pick up the subscription box. Santa Fe residents can also order subscription boxes, and customers can use the drive-up window for standard purchases, she said.

Christian got into gluten-free baking while she owned The Teahouse on Canyon Road, which she opened in 2003 and sold in 2011 in anticipation of opening the first Revolution Bakery in 2012.

“My customers were asking for [gluten-free] at The Teahouse,” she said.

The Revolution Bakery will be open from 8 a.m. to 2 p.m. Tuesday to Saturday and closed Sunday and Monday.

Santa Fe Managing Partner, Carlos Garcia on the story: “Santa Fe’s extensive world-class culinary options continue to expand by the latest expansion of Revolution Bakery at Design Center which offers only Gluten Free baked goods and exquisite pastries and some breakfast options.”

Santa Fe Advisor, Joel Cumplido on the story: “It was a pleasure to be part of Revolution Bakery to find a space according to its needs. Definitely, we believe that the location of this business will help its growth in all aspects and is a perfect business for the Design Center.”

 

To learn more about the latest Santa Fe CRE news, visit our blog.

Read original story here .

The Scoop on Santa Fe: A One-on-One with Santa Fe’s Commercial Real Estate Division

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For nearly two decades, the Santa Fe team, lead by Managing Member, Carlos Garcia has been actively involved with the development, leasing, buying, and selling of commercial real estate. Together, with your goals always at the forefront, they work continuously aiding local businesses to organize and develop the perfect conditions for their business.

With unique insights into the local market, we sat down with Advisors, Carlos Garcia, and Joel Cumplido, to get an inside scoop on what is happening in Santa Fe.

Santa Fe, New Mexico is known as “The City Different” and this is reflected through the culture, people, landscape and community.  The city has been a popular draw for artists, small businesses, tourists and retirees for many years and as of lately, there has been strong growth in the film industry, high technology and the interactive arts.  All of these elements make Santa Fe an ideal location for doing business in a stable and vibrant economic environment. 

Santa Fe is a unique market that merits a unique approach and no one understands this better than our hometown advisory team. Specializing in commercial real estate for Santa Fe and Northern New Mexico, our advisors are well versed in local market knowledge.  To get an inside scoop on what is happening in Santa Fe we sat down with Managing Partner, Carlos Garcia and Advisor, Joel Cumplido to learn more about “The City Different”. 

New Mexico’s housing market is booming (even as national home sales activity continue to be affected by affordability and interest rate issues).  Can you speak to the housing development climate in the Santa Fe metro area and what development projects or specific areas support these trends?

Santa Fe is no exception to the housing market boom being experienced by other markets.  There is also high demand in single-family homes with prices in the $350,000 – $425,000 price range.  It is not common to hear residential brokers comment on the fact that there is just not enough inventory for the demand they are experiencing. 

The medical and medicinal sectors are showing a consistent rise in leasing and development throughout the state. What impacts do these sectors have on the Santa Fe market?

Presbyterian Medical Center Master Plan in Santa Fe comes to mind immediately.  It is part of a planned 40-acre phased construction project comprised of 500,000 SF of acute care hospital and outpatient clinic space. Construction was completed in November 2018. Phase 1 consisted of 345,000 SF including 72 inpatient beds, full diagnostic and treatment area, a complete surgical center, and approximately 100,000 SF devoted to outpatient clinic space.  It will have a staff of over 350 when completed.  Projects like these have a direct impact on a community by bringing jobs and services.

 Santa Fe’s a city of unique retail boutiques, galleries, and dining.  As commercial real estate development expands to new retail corridors, do you see that classic Santa Fe “plaza” experience being carried out in other areas of the city?

Santa Fe Plaza will continue to have its old world charm which will continue to attract world travelers for years to come.  As of late a new commercial corridor has been developed to the south of the city.  This new corridor provides needed services to local residents and provides development opportunities for different markets.

There has been virtually no easing of Santa Fe’s tight multifamily real estate market in the past few years.  Santa Fe is historically known as one of the country’s most crowded markets for multifamily rentals.  Can you speak to the multifamily developments happening in the city and metro area?  Also, what does that mean for services and retail opportunities in the city

It is estimated that Santa Fe has a shortage of approximately 5,000 multi-family units.  We only have approximately 1,800 units in the pipeline which mean that even after we deliver the units currently approved and planned on being built Santa Fe will continue to experience a shortage in Apartment Style Living Units. 

We cannot talk about Santa Fe without bringing up Meow Wolf.  Their start-up success story has so many layers but perhaps the one layer that connects to our industry was their start-up site for their flagship location. Do you see Santa Fe becoming an incubator for startups and experiential entertainment and how does that relate to commercial real estate development?

Meow Wolf has been a great success for Santa Fe’s art market. Attracting visitors from all over the world for their Interactive Arts Exhibit.  After remodeling the Santa Fe bowling alley, Meow Wolf expanded its manufacturing operations to an approximate 55,000 SF facility at Valdez Business Park and plans are underway to build a 4 story 72,000 sf four-story corporate headquarters in their 4-acre campus.  The Meow Wolf experience is expanding to other parts of the country, with plans underway for Denver, Co., Washington, DC and Las Vegas, NV.  With all this economic development being created by Meow Wolf we are sure to create synergy to other segments of the local economy as support industries move in to assist in the arts market.

Meet Carlos and Joel:

Carlos Garcia joined NAI Maestas and Ward in 2011. His 20+ years of experience in development, leasing, buying, and selling of commercial real estate. Carlos’ experience as an owner and manager of two thriving Santa Fe businesses has given me unique insights into the local market that help his clients achieve maximum success. The relationships he’s built throughout his career and continue to develop today have also been invaluable resources in each transaction.

Joel joined NAI Maestas & Ward in October 2018 after working for 3 years administrating Amigo Fiel, a non-profit after school and community outreach program. Using the knowledge, experience, and relationships gained from his obtaining a degree in Industrial Engineering, Joel has a sharp attention to detail. He’s passionate about helping people organize and develop the perfect conditions for their business. Joel’s main focus in any project is to calculate the best way to get from point A to B, and how to make everything in-between as smooth and enjoyable for the client.

To learn more about our Santa Fe team watch our Advisory Team Video here

 

DOE contractor signs big lease in Los Alamos

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By Collin Krabbe, Technology reporter, Albuquerque Business First  |  August 14, 2019

DOE contractor signs big lease in Los Alamos

A joint venture led by Huntington Ingalls Industries and BWX Technologies contracted to carry out an environmental cleanup job at the Los Alamos National Laboratory has big plans for Los Alamos following its first year in business.

The corporation is tasked with environmental cleanup job at the Los Alamos National Laboratory has signed a new lease and plans to hire an additional 100 workers over the next fiscal year, which begins in October, and ends in September.

NAI Maestas & Ward broker Jim Hakeem and Steve Kraemer who said the deal closed in June, represented the landlord on the lease transaction (this is a correction from the original Albuquerque Business First story). Newport News Nuclear BWXT Los Alamos Spokesperson Todd Nelson said the company plans to remain in the facility for the duration of its work in Los Alamos.

Click here for the rest of the Albuquerque Business First story

Director, Jim Hakeem on the topic: “LANL’s impact on the NM job scene and robust economy is showing no signs of slowing down. The sheer magnitude of 62,000 sf of space in a small town in northern NM is strong validation that new jobs are being created and there is meaningful economic growth, not only to the immediate area of Los Alamos but also to the state in whole. Both Enterprise Bank (Landlord) and N3B (Tenant) focused on the vision and opportunity in making this happen and we appreciate all the efforts put forth by both of those teams.”

3 Ways I Help YOU!

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By Shelly Branscom -Director, NAI Maestas & Ward Office Team
July 2, 2019

Would you ask a podiatrist to treat you for strep throat?  Not likely.  The podiatrist could certainly prescribe you an antibiotic.  But is it the right medicine for you?

Would you junk a car with 60,000 miles because a check engine light comes on?  Not likely.  If you are like me, you’d call your spouse and share the problem so the two of you can come up with a solution to remedy the situation.

As YOUR commercial real estate expert, I am here to remedy your commercial real estate situation by assisting you with:

  1. Finding the building for you 
  2. In the right location 
  3. Within your budget

You are working in and on your business every day.  If you spend your precious time in search of a property, negotiating the transaction and managing the construction of your improvements, your business will begin to lose focus which will impact your bottom line. 

Allow me and my team of experts help you with the most important transaction of your business lifetime.  Let me tap into my resources while you continue to foster in your business. 

Together we can climb mountains. 

Click here to learn more about Shelly

For more information on Shelly’s properties click here

 

A One-on-One with Albuquerque’s Multifamily Experts

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The multifamily team believes strongly in the value of teamwork, and views every real estate transaction as a puzzle to be solved through group communication and idea-sharing.  Their understanding and engagement of technology coupled with solid work ethic provide their clients with a smooth transaction and a personable, high-caliber experience.

As leaders in Multifamily sales, we sat down with Advisors, Steve Kraemer, CCIM, and Isaac Romero, to discuss their thoughts on the current state of multifamily housing sales in Albuquerque.

What was your forecast of the 2019 Multifamily sector?  Is your forecast turning out to be correct?

Our 2019 forecast called for an increase in apartment values due to continued upward pressure on average rents.  We’ve seen the market do just that so far in 2019, though we’re keeping an eye on interest rates

With the low cost of capital right now we are seeing significant activity in the market.  

Do you see global issues of increased tariffs on imported materials and growing labor shortage as an impact to multifamily developments? 

As with any project requiring construction, the tariffs add costs as well as a level of uncertainty for developers.  However, we have not seen a slowdown in the development of apartments or the trading of apartments in the market. 

Housing affordability continues to be on the front burner both globally and locally.  Will we see workforce housing supply increase, in an effort to meet demand? 

We expect to see fairly equal development of both market-rate apartments and subsidized, or low-income housing.  There is demand in all state geographies for additional apartment units including Albuquerque, Rio Rancho and especially Santa Fe. 

What can developers do to ensure their properties are future-forward?

Connectivity and quality common area spaces are keys to producing a future-forward property.  Co-working spaces, game rooms, movie rooms are all trends in the apartment market currently.  

What tech trend will most impact future apartment/multifamily developments?  

It will be interesting to see if driverless cars affect multifamily in the same way it is predicted for office and retail, specifically in the required number of parking spaces.  If the new normal is driverless car services, developers may be able to maximize the density of their multifamily projects.  Existing developments may be able to remove parking and add additional units.  It’s going to be a very interesting time as driverless cars become more mainstream. 

The rental market is forecasted to increase as Millennials choose the flexibility of renting over owning and as Boomers downsize. Are we seeing any evidence of that in Albuquerque?

Yes.  We’re seeing increases in the demand for apartments across generations, which is putting upward pressure on rental prices for tenants.   

What does Albuquerque need more of in the multifamily market?

Studies show a need of over 5,000 apartment units in the Albuquerque/Rio Rancho markets.  A wide variety of product types (i.e., 4 units up to 400 units) is needed. 

What are the top factors about a property that attracts a multifamily investor?

Predictable net income, good financing options, and the low cost of tenant turnover are three key reasons investors are attracted to multifamily properties. 

Meet Steve and Issac:

Steve Kraemer joined NAI Maestas and Ward in 2014. His 11+ years of experience in commercial real estate include working in multiple disciplines—multifamily, office, retail, and industrial properties. Steve
heads up the Multifamily division for NAI Maestas and Ward and is highly active in the office and industrial markets as well.

Isaac joined NAI Maestas & Ward in October 2018 after working for New Mexico’s top budget agency—the Legislative Finance Committee—where he was responsible for nearly $500 million in state agency budget recommendations. Using the knowledge, experience, and relationships gained from his time with the legislature, Isaac intends to share his vision for a more prosperous New Mexico through brokering commercial real estate and promoting economic development in our state. As an investor in multifamily real estate, Isaac specializes in multifamily investments. As a promoter of business, Isaac is growing his expertise in retail, including leasing, acquisition, and disposition.

To learn more about our Multifamily team watch our Advisory Team Video here

 

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.

Office Building’s new amenities might make you not want to leave

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By Rachel Sams – Editor-in-Chief, Albuquerque Business First
July 12, 2019

How much work would you get done if your office included float pods, salt rooms and Peloton bikes? Some Albuquerque tenants will soon find out.

The skinny

Developer Matt Finkelstein purchased Albuquerque’s Optimum Building, 5700 Harper Dr. NE, with plans to provide office tenants some amenities unique in Albuquerque.

Click here for the rest of the Albuquerque Business First story

 

More information on this property:

The Optimum Building not only offers office and co-working spaces from 1,000 SF TO 12,681 SF, it offers revolutionary wellness facilities to tenants–like Peloton bikes, isolation float pods, salt rooms, massages, yoga classes and a swanky cafe. Work. Relax. Repeat: bit.ly/2XdApcA

Foreign Interest in Industrial Real Estate Continues to Grow

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By: NAI Global CRE Outlook, June 12, 2019

Out of all of the CRE sectors available, overseas investors indicated they are most interested in acquiring industrial assets. Foreign interest honing in on industrial real estate is a trend that has remained strong over the past few years and is set to continue throughout 2019 and beyond.

According to a survey conducted by the Association of Foreign Real Estate earlier this year, a whopping 79% of foreign investors stated they would like to increase their exposure to U.S. industrial spaces.

So what exactly is it about America’s industrial real estate that attracts so much attention across the globe? Here’s what CRE professionals need to know about this trend in order to stay at the top of their game.

High Profit Margins

When comparing industrial investment to other CRE facets, it becomes clear why foreign investors are heavily leaning towards the industrial side of the business. Industrial real estate brings back incredibly large profit margins and yields unparalleled returns.

Not only is it profitable, but industrial real estate is also convenient for overseas parties. Being a landlord of an industrial property is far more hands-off than owning a multi-family, hotel, or retail development.

Most industrial leases are business-oriented, placing nearly all of the responsibility on the inhabitants. Due to the growing interest in the industrial sector, it’s also relatively easy to get funding for the purchase of an industrial property.

This investment approach allows foreign parties to make a huge profit while still allowing them to focus on expanding other areas of their business.

Security and Stability

The United States’ industrial real estate market is incredibly secure and stable due to the changing scope of global retail and consumerism. More and more companies are looking to invest in industrial properties in order to keep up with the growing demands of the business.

The contemporary consumer values automation and instant gratification, all of which are by-products of our ascension onto the digital platform. In order to deliver their products to clients more quickly, companies are needing to open up warehouses all around the country.

Out of all of the available facets of CRE, industrial real estate stands as the most promising for overseas investors. The profits are wide, stability is ensured, and there are a plethora of established markets thriving in the United States.

Which commercial sector are you most interested in for 2019 and beyond? To learn more about the latest CRE news, visit our blog.

End.

Read original story here .

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 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world

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