In Albuquerque, New Mexico, Institutional Property Advisors (IPA) has obtained the exclusive listing for Foothills Center. This shopping center spans 93,302 square feet and is anchored by a Walmart Neighborhood Market. Additionally, there is a half-acre parcel available for purchase that would be suitable for a drive-through restaurant. The price will be determined through an open bidding process.
Currently, Foothills Center boasts an impressive occupancy rate of 98%, with tenants such as Harbor Freight, dd’s Discounts, Einstein Bagels and more. Bill Rose of Red Tail Acquisitions represents the seller in this transaction.
According to Sunny Sajnani from IPA: “Investors have the opportunity to earn over 8% cash-on-cash return on their investment with various financing options.”
Conveniently located at the intersection of Juan Tabo Boulevard and Menaul Boulevard in close proximity to downtown Albuquerque and University of New Mexico – home to over 32,300 students and employees – Foothills Center offers easy access to major employers such as U.S Department of Energy,Sandia National Laboratories,Kirtland Air Force Base,and Intel New Mexico within Albuquerque MSA region.
