Baillio Group, an Albuquerque-based hard goods retailer, bought 8.41 acres in Santa Fe, NM, from San Diego-based Westlodge Hospitality for a retail project that could include restaurants and a small hotel. The project is slated to break ground in December, with completion expected in about six months. Terms of the transaction were not disclosed.
Separately, Westlodge sold 3.5 acres in Phoenix to GDM Land, an Albuquerque-based developer, for a 200-unit hotel. The timeline for the project, which will be located on 44th Street just south of Interstate202 and north of McKinley Street, has not yet been determined.
In a third deal, GDM Land purchased 3.77 acres in the 1500 block of Gibson Boulevard in Albuquerque. GDM plans to develop a project on the site that may contain a restaurant and retail. The timeline and exact details of the project have not yet been set.
Grubb & Ellis' West Los Angeles office, along with Grubb & Ellis/Lewis & Hamilton of Albuquerque, represented Westlodge in the transaction.
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