SANTA FE, NM-Marcus & Millichap Real Estate Investment Brokerage Co. has tapped a 14-year broker to plant its flag for the first time in New Mexico. The office leader will be soloing for now, but starts the first round of interviews next week to build the team.

“We are just barely started getting set up here,” Sam Medford, who relocated from San Francisco to Santa Fe to lead the campaign. Taking the helm as senior associate, Medford also is scouting for office space in the city. “Santa Fe is our primary target because that’s where everything is happening,” he says.

Medford tells GlobeSt.com that it’s too early to pinpoint a number, but he’s hoping in the coming months to assemble a team with seven to 10 transactions professionals in all market segments. Medford’s specialty is hospitality so he’s looking to pick up retail, multifamily and office brokers in a market that’s overwhelmingly represented by the single-family segment.

Equally challenging will be to find owners willing to part with their New Mexico deeds. “People really want to invest here,” Medford says. “We just want to find the people who want to sell.” He says there are willing sellers based on his preliminary legwork and comments from the residential sales crowd. Meanwhile, he’s armed with a black book of buyers from Hawaii, Texas, Florida and Illinois.

In addition to Santa Fe, the territory will take in Albuquerque, Las Cruces, Los Alamos, Farmington and Gallup. Gary Lucas, senior managing director and regional manager for Marcus & Millichap’s mid-market cities like Santa Fe, credits the push to New Mexico’s improving economy and commercial real estate markets. “New Mexico is now perceived nationally as a strong and stable market in which to invest,” he says, “and should be on every investor’s radar screen.”

Medford, who has 20 years’ experience in the industry, has closed hotel sales from New York to Florida and California. He most recently sold the largest cross-country ski resort in North America, a 1,300-room resort in the Catskills, boutique hotels in San Francisco and Lake Tahoe and several Nevada assets including a 600-room, full-service hotel and casino in Reno.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.