{"id":1004082226,"date":"2013-08-16T13:57:42","date_gmt":"2013-08-16T21:57:42","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=163335"},"modified":"2020-04-22T23:14:03","modified_gmt":"2020-04-23T07:14:03","slug":"office-building-in-rio-rancho-is-for-sale-for-5m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/office-building-in-rio-rancho-is-for-sale-for-5m\/","title":{"rendered":"Office Building in Rio Rancho is For Sale for $5M"},"content":{"rendered":"

By Anca Gagiuc, Associate Editor<\/em><\/p>\n

A 50,000-square-feet complex located 16 miles north of Albuquerque has been listed for sale for $5 million. The five-story building, located at\u00a0at Quantum Road and NM 528, used to belong to AMREP Southwest which is now the main tenant.\u00a0\"\"<\/a><\/p>\n

The listing agent for the sale is John Morrow from West Wood Realty, reports Albuquerque Business First<\/a>. According to the sales representative, the property is a bargain. \u201cFor a building of this quality and stature and location, it\u2019s a very competitive price; especially when considering the many recent upgrades and improvements.\u201d<\/p>\n

The property was built in 1986 for AMREP Southwest, one of the most prominent home builders of New Mexico at the time. In 1960 the company had paid $10 million to acquire 55,000 acres of what later became the City of Rio Rancho. The building was then in the heart of the development of what became the state\u2019s third-largest municipality. AMREP now owns approximately 8,000 acres in Rio Rancho.<\/p>\n

In 2006 the office building was purchased by AFEP which invested in the building, upgrading the heating and cooling unit and installing remote temperature and ventilation controls. Energy-efficient lighting and a fiber-optic cables have also been installed. In 2007 the roof was replaced and the common areas refurbished.<\/p>\n

The market in the area is improving. The Northern Boulevard NM 528 is scheduled to undergo a widening from four to six lanes.<\/p>\n

Photo courtesy of New Mexico<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

At Quantum Road and NM 528 there is a five-story complex of 50,000 square feet that has just been listed for sale. The building used to belong to AMREP Southwest who is now the main tenant.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1577,21742],"tags":[39408,1815],"class_list":["post-1004082226","post","type-post","status-publish","format-standard","hentry","category-albuquerque","category-latest","tag-albuquerque","tag-national"],"acf":[],"yoast_head":"\nOffice Building in Rio Rancho is For Sale for $5M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/office-building-in-rio-rancho-is-for-sale-for-5m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Office Building in Rio Rancho is For Sale for $5M\" \/>\n<meta property=\"og:description\" content=\"At Quantum Road and NM 528 there is a five-story complex of 50,000 square feet that has just been listed for sale. 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