News

C&S broker honored for Deal of the Year under $1MM

Sep 19, 2016
Stephanie Guzman-Barrera
Albuquerque Business First

When the average person thinks of commercial real estate, they may only pay attention to the transactions attached to big names — a lease with a national retailer, or a big Downtown building sold.

But there are so many other real estate transactions that have a big impact based on other factors, such as how much work went into closing the deal or a deal that finally closed after the project was on the market for years.

Two commercial real estate organizations, Certified Commercial Investment Members New Mexico chapter and Commercial Association of Realtors New Mexico, honored two of the best deals during the last year.

The two organizations held a gala for local commercial real estate brokers Sept. 15 at Albuquerque Marriott.

CCIM members recognized Brandon Saylor with Colliers International for a deal under $1 million. Saylor represented the property owner of a 10,000-square-foot industrial building at 500 Menaul Blvd. NW.

Saylor said the deal was memorable because he had the property listing for 31 months. The property was purchased by McElroy Metal Inc., represented by Barbara Haase of Cauwels & Stuve Realty , for an undisclosed price.

"This one was a tough one in the sense that there were a lot of people interested and we got a lot of calls on it, but not everyone had the money to do something with it," Saylor said.

For the deal of the year over $1 million, CCIM recognized Walt Arnold of SVN | Walt Arnold Commercial Brokerage and Larry Ilfeld of SVN Commercial Real Estate Advisors for selling the former First Community Savings Bank building at 100 N. Guadalupe St. in Santa Fe.

The building, which had a low occupancy rate, was purchased by two local entities, Phase One Equity and Firestone 100 LLC, for $2.4 million in May. Tim House with SVN/ Team Southwest represented the buyers.

C & S acquires new CPM account at Candelaria Business Center

C & S Real Estate & Development is pleased to announce its Commercial Property Division is now managing Candelaria Business Center. This 34,000 square foot office and industrial park is located at 3301, 3311, and 3351 Candelaria NE. Candelaria Business Center is 100% occupied and locally owned. C & S holds the coveted property management certification of Accredited Management Organization or AMO.

November 2015

Canyon Club seeks $1.6 million in investments — celebrates restaurant redo

Jul 2, 2015, 1:30pm MDT
Stephanie Guzman
Albuquerque Business First

The Canyon Club in Albuquerque's Four Hills neighborhood has begun a new round of investment funding, offering dozens of shares in order to raise an additional $1.6 million for the 18-hole golf course and its facilities.

Six investment partners took the Canyon Club out of bankruptcy in 2013 and then successfully sold 134 shares in about two years. Now, there's 66 shares left to sell, according to partner Bill Golden, the owner of Golden Equipment Co. The other partners include Jeff Stuve, principal of C&S Real Estate & Development, Paul Cauwels, John Heer, and brothers Jerry and Larry Lujan.

Golden said the plan is to invest all the money back into the facility, which is located at 911 4 Hills Rd. SE — near Central Avenue and Tramway Boulevard. "We have a laundry list of things we'd like to do," Golden said.

The list includes an irrigation project, more remodeling phases of the clubhouse and to install a new fitness center. Golden said the operation will continue to remain debt free as it continues the ongoing renovation work. Golden and his partners are also planning more community outreach by hosting charity golf tournaments and neighborhood meetings.

"[Canyon Club] has helped stabilize the neighborhood. We're starting to see the area come back to life and we think we're a big part of that," Golden said.

So far, the partners have put money into the clubhouse and a complete renovation of the restaurant and bar — Manzano Grille. Dinner options include main course favorites, daily specials, Southwestern and seasonally-made meals.

A "grand opening-open house" for the restaurant is scheduled for July 3, where 150 "dining memberships" will be offered.

Canyon Club has more than 500 general members and about 200 golf members, with another 100 golf memberships available, Golden said.

C & S signs 10 year lease for 25,000 sq ft.

C & S Real Estate & Development is pleased to announce the recent signing of a 10 year lease for 25,000 sf for an undisclosed national tenant. Construction is underway on improvements to the office / warehouse project, with occupancy planned for Q3 of 2015.

May 2015

Massive industrial build-to-suit project gains footing in South Valley

Apr 21, 2015, Damon Scott, Reporter- Albuquerque Business First

Almost 381,000 square feet of build-to-suit industrial warehouse space has been proposed on a plot of land in Albuquerque’s South Valley.

Jim Smith, the industrial specialist at CBRE New Mexico, is working with C & S Real Estate & Development on the massive project that would consist of three buildings ranging from 108,000 to 163,000 square feet each.

The project is important to the Albuquerque area’s market as most of its desirable industrial buildings, with high ceilings and other amenities, have been gobbled up. And there’s no speculative construction on the horizon, as asking lease rates for the more updated stock are much less than what a new building would cost to construct. “No developer is crazy enough and no bank would be willing to loan on those types of buildings,” he said.

Build-to-suit shells, though, can give prospective companies a more ready-to-go option, with a shorter timeline for construction completion.

The build-to-suit project is located in the South I-25 corridor where much of the city’s industrial activity has been taking place. US Foods is operating there, as well as Admiral Beverage Corp. and auto parts provider LKQ. The corridor has started to catch up on the retail end as well, with Las Estancias continuing to add to its retail and restaurant lineup at Coors and Rio Bravo boulevards.

The shells that C & S would build would offer ceiling heights of 28 feet and other specs that companies looking for build-to-suit space want, Smith said. “Most of the newer industrial buildings built after 2000 that have more than 22 or 24 feet of height are at about 3 percent vacancy [in the Albuquerque area],” Smith said. “The older stuff has been vacant for three or four years.”

Smith says “flat is the new up” in the industry. “There’s not a lot of activity and the median industrial transaction size has trended down since 2011. There are not a lot of big companies moving around for the most part,” he said. Smith added that for every Nova-moving-into-a-Schott-building type transaction, there are 50 transactions of 1,500 to 3,000 square feet. Nova Corp. recently moved its data center operations to the former Schott Solar building at Mesa del Sol. “It’s musical chairs with not a big influx of new users. We’re recovering slowly,” said Smith.

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