Expertise in both tenant and landlord representation leads to maximum occupancy and long-term mutually profitable leases.

Extensive local and national contacts provide maximum exposure.

Excellent reputation attracts highly desirable tenants.

Timely feedback and reports allow a high level of control.

Results best tell our story by demonstrating our ability to build our clients' prosperity. The key is our commitment to create innovative solutions using our experience, tenacity and resources.

Initial Contact
SP Pharmaceuticals contacted us for a tenant representation assignment. They were leasing approx. 50,000 SF at the Osuna Business Center and asked us to identify other space in the market as well as analyze their current lease and space needs.

The Search
We researched available larger buildings but none were a good match. We also made a proposal to the current landlord who flat out rejected our offer and countered with very aggressive terms. We continued our search, which led us to the former plastics building on Alexandria in the Renaissance Business Center. We walked out not completely satisfied and looked across the street and saw the former Price Club building, which at the time was under contract to Albuquerque Public Schools. The comment was made, ³Thatıs the kind of building we would really like to be in. Too bad itıs under contract and not for lease².

Making It Work
Not willing to let a couple of obstacles stand in the way of what our client desired, we let the broker know we were interested if the building became available. He called shortly thereafter with the good news and we immediately put our experience, tenacity and resources to work on an innovative solution. We decided buy the building and lease it to our client. Roger Cox was in the process of selling a shopping center in Roswell, but it would not close in time to meet the sellerıs time frame for the former Price Club building, so we decided to do a reverse exchange and purchase the replacement property while the relinquished property was still under contract. After many rounds of negotiation approval and contractor meetings, our tenacity paid off. The purchase was completed and a 15-year lease was put into place.

The End Result
SP Pharmaceuticals was able to more than double their space needs with the same total out of pocket cost as their previous facility. At the same time we gave SP an option to purchase the facility at an agreed upon price. Several years later SP exercised their purchase option and has seen substantial increase in their investment.

Read More...

SEARCH PROPERTIES NOW >>