Aarons | New 2017 BTS Construction
Los Lunas, NM (Albuquerque MSA)
Price: $1,667,000Cap Rate: 6%Building SF: 7,000 SFLot Size: 0.65 AcresYear Built: 2018Status: Under Contract

Investment Highlights: 

Nationally Recognized Tenant: Aaron’s Inc. (NYSE: AAN) – Corporate Lease Guaranty – Headquartered in Atlanta, Georgia, Aaron’s, Inc. (NYSE: AAN) engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its more than 1,860 company-operated and franchised stores in 47 states and Canada.

New 2018 Build-to-Suit Construction – Relocation Store – New Long-Term NN Lease – 10% Increases in Options  – The subject property is a new build to suit for Aaron’s. The tenant relocated to this location due to its superior traffic counts, excellent visibility, and proximity to Interstate 25. Aaron’s new 10-year lease commenced in mid-February and features 10% rent increases in the additional two (2) 5-year renewal options.

Located Across from Home Depot & Lowe’s Anchored Centers – Excellent Retail Synergy & Customer Draw  – The subject property is located across the street from a Home Depot & Lowe’s anchored center, drawing a large customer base to the area. In addition, the center features attractive co-tenants including IHOP, Applebee’s, Maurice’s, AutoZone, Starbucks, Petsense, Big O Tires, Mattress Firm, and Subway. The property location offers outstanding retail synergy, with neighboring retailers including The UPS Store, Snap Fitness, Sonic Drive-in, Chevron, US Post Office, Quality Inn, Walgreens, Shell, and more.

Strategic Location Along Dense Retail/Commercial Corridor – Quick I-25 Freeway Access (29,000 CPD) – Thriving Retail Sector – The property is ideally located along NM State Rd 6/Main St (27,000 CPD), the highest trafficked thoroughfare in Los Lunas between Interstate 25 and downtown Los Lunas, offering excellent visibility and signage. This corridor is seeing a thriving retail sector with new restaurants and businesses to support the growing population. The property is located approximately 1.5 miles from Interstate 25 (29,000 CPD), offering quick access to Downtown Albuquerque just 23 miles to the north.

Located in the Village of Los Lunas, NM – Bedroom Community for Albuquerque  – The subject property is located in the Village of Los Lunas, which lies just 23 miles south of Albuquerque. Los Lunas offers many attractions including low-cost industrial sites, easy transportation access, an available work force, and affordable housing. As a result, Los Lunas has seen amazing growth in the past decade – 47.8% since 2000 – and the area is seeing new jobs and industries.

Notable Projects & Development in Los Lunas: New Facebook Data Center, Transportation Center, University of New Mexico Campus – With its business-friendly climate, the area has been chosen as the destination for numerous notable projects including: Facebook’s new high-tech data center, comprised of six (6) buildings totaling 2.8 Million SF in size, at a total investment over $1 billion. The project will be equipped with the latest in the Open Compute Project hardware designs and powered by 100% clean and renewable energy and is projected to employ as many as 1,000 workers on site during construction well into 2023. Phase 2 of a Transportation Center will connect the Burlington Northern Santa Fe Railway line to what could be central New Mexico’s largest rail-served industrial park when built out. Los Lunas is seeing a thriving retail sector along NM State Rd 6/Main St, with new restaurants and businesses to support the growing population.

 


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977