Cauwels & Stuve Realty, local investors scoop up office building

December 22, 2017
Shelby Perea
Real Estate Reporter, Albuquerque Business First

Jeff Stuve, principal and founder at Cauwels & Stuve Realty & Development Advisors LLC, has noticed something on the rise in the 505.

Stuve is seeing more and more local investors scooping up real estate that was once owned by institutional investors. He cited the Uptown area and the North Interstate 25 corridor, saying so much of those properties are under local control. He's been in the business a long time, having an over 25-year career in commercial real estate, according to his company profile, but this trend is happening more and more in recent years.

Now, he is also able to add one of his most recent purchases as an example of this trend.

Stuve told Albuquerque Business First that Cauwels & Stuve along with other local investors finalized a deal on a building at 8801 Horizon Blvd on Tuesday. The building was bought out of foreclosure for an undisclosed amount.

He has had a history with this building, having been apart of its construction in the 1990s and handling its leasing and management since then.

He was interested in buying because of its quality and how well it has done on the market in the past.

Stuve said UnitedHealthcare is the largest tenant at the approximately 130,000-square-foot building, also noting it's 70 percent occupied. He said the building lends itself toward "sophisticated users with technology requirements."

Under the new ownership, he doesn't anticipate many changes, saying foreseen construction will revolve around tenant improvements. Cauwels & Stuve Realty will be taking over the leasing and property management.

The company is No. 11 on our Commercial Real Estate Firms List with $21.5 million in 2016 commercial transactions value.

Pictured is 8801 Horizon Blvd., which Cauwels & Stuve Realty & Development Advisors LLC among other local investors bought this month.