MARCH 22 - 28, 2019
Albuquerque Business First
Two large multi -tenant office properties in Albuquerque closed in February 2019, both owned by Firouz Memarzadeh of San Diego. 2440 Louisiana NE and 5700 Harper NE were listed by Albuquerque-based brokerage C&S Real Estate & Development. The two buildings total approximately 190,000 square feet of multi - tenant office.
As C&S Principal Jeff Stuve noted, the lengthy and sometimes intense transactions allowed him and broker Barbara Haase to develop a strong relationship of trust and mutual respect with the seller.
“We also came to understand Mr. Memarzadeh’s remarkable journey to becoming an American success story,” commented Mr. Stuve.
Born in Iran, Mr. Memarzadeh moved to New Mexico for an engineering degree at NM Tech in Socorro. After his success in engineering, he parlayed his technical and analytical skills into a real estate career that began when he bought the two Albuquerque buildings in the early 1990s, his first real estate purchases. Through his financial acumen, supportive family, persistence, ethical and rational business practices, and not “falling in love” with any particular property, he built a multi-million-dollar real estate enterprise from California to Ohio, to France and the Middle East.
His holdings range from amusement parks to R&D, retail, and manufacturing properties. With a desire to consolidate his assets into certain product types, Mr. Memarzadeh decided to list the Albuquerque office properties for sale, and C&S found local buyers to purchase both properties in 2018.
As C&S broker Barbara Haase commented, “the key to any broker’s success is all about developing trusting relationships. Every day interacting with Mr. Memarzadeh was insightful and interesting. We are so pleased to have worked with him and help achieve his goal of exiting the ABQ market.”
The terms of the sales are undisclosed.
2440 Louisiana NE and 5700 Harper NE
