{"id":1004096124,"date":"2014-05-07T14:17:23","date_gmt":"2014-05-07T22:17:23","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=260138"},"modified":"2020-04-06T22:36:18","modified_gmt":"2020-04-07T06:36:18","slug":"former-beach-waterpark-site-listed-for-sale-for-12-5m-uptown-square-venture-closed-on-3-6m-refinance-for-mixed-use-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/former-beach-waterpark-site-listed-for-sale-for-12-5m-uptown-square-venture-closed-on-3-6m-refinance-for-mixed-use-property\/","title":{"rendered":"Former Beach Waterpark Site Listed for Sale for $12.5M; Uptown Square Venture Closed on $3.6M Refinance for Mixed-Use Property"},"content":{"rendered":"

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

For 18 years the Beach Waterpark has been a staple of the summer for Albuquerque\u2019s children. Unfortunately, it was shut down in 2005 after it received an \u201cunsatisfactory\u201d rating from the Environmental Health Department. A year later everything on site was auctioned off, and ever since the land has remained empty.<\/p>\n

The 23-acre lot is located off North Interstate 25 and Monta\u00f1o\u00a0and, according to Albuquerque Business First<\/a>, it is now listed for sale at a price appraised by Sedberry & Associates at $12.5 million. Its location makes it ideal for a mixed-use development, including retail, hotel, restaurants, entertainment, office, and showrooms, while its size makes it suitable for one or multiple developers.<\/p>\n

\u201cThe restaurant users can be strategically placed along the frontage road with direct frontage road access and maximum visibility to 200,000 cars per day on I-25,\u201d John Sedberry, president of\u00a0 Sedberry\u00a0& Associates\u00a0reported.<\/p>\n

On different news, Uptown Square Venture closed a refinance loan for a mixed-use building development with help from EverBank Commercial Real Estate Group. The amount of the transaction was of $3.6 million over a term of 25 years.<\/p>\n

“In our business, speed, flexible loan terms and competitive rates are essential to our bottom line,” stated John Whisenant, managing partner, Uptown Square Venture. “Dave Christiansen\u00a0of Berkadia and the team at EverBank not only made sure the deal closed on time despite market fluctuations, but also provided us with a structure that ensures we can continue to take advantage of other opportunities. We look forward to working with them again for our commercial mortgage needs.”<\/p>\n","protected":false},"excerpt":{"rendered":"

For 18 years the Beach Waterpark has been a staple of the summer for Albuquerque’s children. Unfortunately, it was shut down in 2005 after it received an “unsatisfactory” rating from the Environmental Health Department; a year later everything on site was auctioned off and ever since the land remained empty.<\/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-1004096124","post","type-post","status-publish","format-standard","hentry","category-albuquerque","category-latest","tag-albuquerque","tag-national"],"acf":[],"yoast_head":"\nFormer Beach Waterpark Site Listed for Sale for $12.5M; Uptown Square Venture Closed on $3.6M Refinance for Mixed-Use Property - 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\/former-beach-waterpark-site-listed-for-sale-for-12-5m-uptown-square-venture-closed-on-3-6m-refinance-for-mixed-use-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Beach Waterpark Site Listed for Sale for $12.5M; Uptown Square Venture Closed on $3.6M Refinance for Mixed-Use Property\" \/>\n<meta property=\"og:description\" content=\"For 18 years the Beach Waterpark has been a staple of the summer for Albuquerque’s children. 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