The 35,000-square-foot Candelaria Business Center, pictured, has been listed for sale for the first time in at least a decade. Todd Clarke, CEO of New Mexico Apartment Advisors, is representing the property on the listing.
Damon Scott
Reporter- Albuquerque Business First
The 35,000-square-foot Candelaria Business Center has been listed for sale for the first time in at least a decade.
The list price for the mixed-use office, retail and industrial business park is $2,995,000, or about $86 per square foot.
The owner of the complex is Victor Bachechi of Carlo Inc. Todd Clarke, CEO of New Mexico Apartment Advisors, is representing Bachechi and the property on the listing.
Clarke said the fact that it is being listed for sale shows there is some life in the Albuquerque office market, which has lagged in recent years.
“The majority of sales for the last couple years have been owner-user, with very few investor sales, and those that were [investor sales] were REO [real estate owned] banks,” Clarke said.
The complex consists of four buildings on 4.5 acres that have three addresses — 3301/3311/3351 Candelaria Road NE — just west of Carlisle Boulevard. The complex is 96 percent leased and has tenants such as Catholic Charities USA, Milton’s Restaurant, Compass Construction, SCS Engineers and New Mexico Consumer Personal Care. Catholic Charities is the largest tenant, followed by New Mexico Consumer Personal Care.
“We have had a lot of interest from investors who want a reliable, stable cash flow,” Clarke said.
505.348.8315 | damonscott@bizjournals.com
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