Fed Ex site on the block for $22 million - New Mexico Business Weekly:

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Construction on the 65-truckm transfer station, at 7601 Los Volcanesw NW, which serve as a regional FedEx facility, will be completed in about 45 days. It is among the top high profile industrial developments in the Duke City becaused of its location near Unserf NW and Interstate 40 and the quality of the Fed Ex has signeda 10-year lease and will pay monthly rent starting at nearl $1.8 million when the project is complete. Fed Ex’sw rent escalates to nearlt $2 million in the second five yearz ofthe lease. The Memphis-based, $38 billion delivery businesw giant has a five year option to extendthe lease.
“Thse price was reduced because ofmarkegt conditions, but we have had interesft and discussions since we went to marke in late August,” said Joel who is part of the team marketing the site for The team includes Patti Peixotto, Jack Daley and Hunter Greene. Whitw expects institutional investors from outside Albuquerque to be thelikely buyers. Brunacini built the projec t with specifications fromFed Ex, which has long sought a state-of-the-art facility in the southwest to transfer shipmentsx onto trucks headed to the West Coast from points east. The site has room for expansion and will open with 65 bays and morethan 37,00p square feet of industrial space.
The project is listed with a cap rateof 8.2 John Henderson III and Trud Jones, both senior vice presidents at , are joiningf in senior positions. Henderson will serve as Maestas’ chiecf operating officer while Jones joinse Maestas as a director focusing onoffice D’Nette Wood and Rosie Yee are also leaving G&E for to serve as an advisor and executive assistant, respectively. Earlierd this fall, Maestas tappedx Elizabeth Liming, Grubb’s property management director, for a similafr post. Maestas recently opened a newly expanded corporate headquarters at 6801 Jefferson NE and has been aggressivelyaddingt staff.
By naming Henderson chief operating officer, a role Maestas was it frees Maestas to focus on buildin g his boutique firm and doing retail leasing anddevelopmenf deals. Grubb & Ellis is New Mexico’xs largest commercial real estate brokerage while Maestas is based on the number of licensed Henderson has 37 yearsx of experience across a wide range of commerciakl transactions andhis wife, Jones, a big playerd in the office market, has 28. Santsa Fe Indian School site in play? A reporrt in the predicts the formedr sprawling Santa Fe Indian School campus along Cerrillos Road coulsd be turned into a hotel andshopping center.
The newspaper obtainex architectural drawings created by that suggest a larges development that wouldinclude 40,000 square feet of underground Several of the former school buildingsz have already been bulldozed. The property is managed by the All Indian Pueblo Council, whose executives declined to discusw their plans for the The council represents the 19 pueblos in the state, but the federalo 2000 Omnibus Indian Advancement Act puts limitsa on the land use of formee Indian school property. Educational and cultural uses are specified, and if this rule is the property could revert back toUncle Sam.
Any new projecr along already retail-jammed Cerrillo s Road would require Santa Fe cityzoning approvals, and that will most likel be a major issue during 2009 should the council move forward with its plan. Dekker, Skarsgardd bag NAIOP awards Albuquerque’s version of the Academy Awards for commercial real estate tookplacwe Dec. 5, and the winnerds included developersSkip Skarsgard, Jasohn Daskalos, Rob Dickson and architect Dale Dekker. The made the presentationsw at its 2008 awards luncheon at theUptowjn Marriott, which was attended by over 500 guests. NAIOPP gave awards in 10 categories.
Its separate chairman’zs community builders award went to the for itsnew $385 million wate r system that makes Rio Grande water The group’s member of the year awar d went to Dekker’s architectural firm, Dekker Perich In the large office category, Skarsgard’s successfulo Paseo Nuevo at 8220 San Pedrp NE was the winner. The 106,000-square-foot Classe A building is mostly leased despitew thefragile economy. In the small offics category, the winner was Mariposa East Commons, a 16,000-square-foot LEED certified building that was built by forits It’s the first LEED certified building in Rio Ranchk and was a Dekker Perich project.
Dickson’s BelVedere Urban Courtyard was the winner inthe mixed-use The 54-unit residential/retail project is just nortjh of his Lofts at Albuquerque High project east of Daskalos took the retail award for his Shops @ Paseio Crossing project while Sigler Distribution captured the industrial award for its new 65,000-square-footr warehouse and office at 3330 Pan Americanb Freeway NE. In the residential arena, captured the master-plannesd community award for its 433-acre Loma Colorado projectr inRio Rancho.
Nature Pointe’e developer Alex Leonard won the residential amenity category forthe 18,000-square foot clubhouse at his master-planned development near Sedillo Hill in the East