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93K-SF Albuquerque Retail Center Hits the Market
Institutional Property Advisors (IPA) secured the exclusive listing for sale of Foothills Center, a 93,302-square-foot Walmart Neighborhood Market-anchored shopping center with a separate half-acre parcel suitable for a drive-through, quick-serve restaurant in Albuquerque, New Mexico. The price is open bid.
Foothills Center is 98% occupied by Walmart Neighborhood Market, Harbor Freight, dd’s Discounts, Einstein Bagels, AT&T, GameStop, Sally Beauty, and a soon-to-open Hibbett Sports. Bill Rose is representing the seller, Red Tail Acquisitions.
IPA’s Sunny Sajnani stated: “An investor can earn a going-in 8%-plus cash-on-cash return with various financing solutions.”
The center is located at the intersection of Juan Tabo Boulevard and Menaul Boulevard. Downtown Albuquerque and the University of New Mexico, which supports more than 32,300 students and employees, are within a short drive. Major employers in the Albuquerque MSA include the U.S. Department of Energy, Sandia National Laboratories, Kirtland Air Force Base, and Intel New Mexico.
- ◦Sale/Acquisition
