Newmark announces it has completed the $7.5 million sale of Valencia Y Shopping Center, a 51,892-square-foot shopping center in Los Lunas, New Mexico. Newmark’s Steve Julius, Jesse Goldsmith and Chase Dorsett, in partnership with Perry Kesler of Sotheby Realty, represented both the seller, Hawkins Companies, and the buyer, Arizona MSK, LLC and Garvin Holdings, L.L.C. The property traded in an all-cash 1031 exchange. 

“The buyer was seeking good real estate fundamentals and reliable cash flow,” said Julius. “Valencia Y Shopping Center provides both, with 100% occupancy, low rents, a location next to Kroger-brand grocery store and a cap rate exceeding 7%.” 

The center is anchored by Smith’s Food and Drug with inline tenants including Ace Hardware, Pizza Hut, TitleMax Title Loans and Anytime Fitness. Additional nearby tenants include Albertsons Market and Walgreens. The property is located at the high-traffic intersection of New Mexico State Route 47 and Main Street NE.