ALBUQUERQUE, NM—An industrial building that sold for $2.7 million in recent years, was recently priced at $1.87 million for a quick turnover, and was subsequently sold this week to a local investor group.
The 23,000-square foot building at 3911 Singer Blvd. NE in the North I-25 corridorwas listed by the Grubb & Ellis' team of John Ransom and Tim With, according to the Albuquerque Business Journal.
“The sale of this property is evidence that there are highly-capitalized buyers in the marketplace looking to acquire assets in sound locations that are accurately-priced,” With said, in talking with The Journal. He also noted the California sellers were looking for a 60 to 90 day sale.
The building is leased to an electronics, energy and aerospace/defense manufacturing company.
Click Albuquerque Business Journal to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
