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LOS ANGELES-The local office of Cushman & Wakefield’s financial-services group has brokered the nearly $25-million sale of Montgomery Plaza, one of the largest retail properties in New Mexico.

The buyer is Goodman Realty, an investment company based in Chicago. The seller is Montgomery Retail Realty Inc., a unit of New York-headquartered Citicorp.

The 400,000-sf Montgomery Plaza stands on the northwest corner of Montgomery and San Mateo boulevards in Albuquerque. It was built in 1972, when the city’s population was just a fraction of what it is now.

Today, more than 100,000 cars pass through the intersection outside the power center’s doors. The complex is anchored by a Burlington Coat Factory, Burlington Luxury Linens, Walgreen’s and a Cinemark eight-screen theater.

A Ross Dress for Less also joined the 33-acre development’s tenant list shortly after a $5-million renovation of the center was completed last year. The clothing retailer occupies 32,000 sf of space.

Seller Montgomery Retail was represented by Marc Renard, Cushman & Wakefield executive director and senior investment broker, along with C&W’s Ellen Gunderson. Goodman Realty was represented by its in-house staff.

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