ALBUQUERQUE, NM-The Albuquerque Business Journal reports that Gap Inc., which has its operations in the CBD, has signed a 10-year lease to move its local employees to the north Interstate 25 corridor area. The article did not specify the size of the lease, though Gap leased 110,000 square feet more than 10 years ago at the Galeria, in downtown Albuquerque.

Gap will move to 4400 Masthead St. NE, a 163,000-square-foot, class A office building. The ABJ reports that the building has approximately 75,000 square feet available, partly due to the US Department of the Interior's downsizing of space in that location during 2012.

“This is a positive move for our employees. The new office will offer improved infrastructure to better accommodate the needs of our employees and business,” Gap spokesman Avery Vaught was quoted in the article. “At this time, we have not finalized the date for our move, but expect it will be at the end of 2014 or early 2015."

Albuquerque has been the site of Gap's corporate shared services center, which employs approximately 300 to 400 people. The Galeria is owned by Rosemont Realty, one of Albuquerque's largest office landlords. It is about 323,000-square-feet in total.

Tom Jenkins of REA - Real Estate Advisors represented 4400 Masthead while Scott Throckmorton of ARGUS Investment Realty represented the Gap. Throckmorton has represented the Gap since they arrived on the scene in Albuquerque many years ago.

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