DPI Retail Expands into New Mexico Market through $5.5 Million multi-retail building portfolio acquisition
EL SEGUNDO, CA Aug. 17, 2023 – DPI Retail announces the successful acquisition of its $5.5 Million portfolio comprising multiple retail buildings located in Los Lunas and Albuquerque, New Mexico.
Brokers Anthony Johnson and AJ Johnson from Pegasus Group acted as representatives for DPI Retail and the seller, a private investment company.
The retail buildings in Los Lunas, adjacent to an Albertson’s center, are located at 2235-2245 Main Street SE. Recent renovations have been completed on the buildings constructed in 1984 and 1997. Together, encompass 9,418 square feet and are positioned along Main Street (Highway 6), benefiting from a high traffic volume of 17,800 vehicles daily. This prime location is just south of the Valencia “Y” intersection, marking the vibrant heart of Los Lunas and serves as a key retail destination.
Situated in Valencia County, New Mexico, the city of Los Lunas is nestled along the Rio Grande River Valley. Strategically positioned in the heart of the state, it lies approximately 19 miles south of Albuquerque, the state’s largest city. Notably, Los Lunas is home to a recently constructed Amazon fulfillment center spanning 1 million square feet, generating 600 new employment opportunities. Additionally, the city hosts Meta’s Facebook Data Center, comprising a campus of six buildings representing a substantial $1 billion investment, with envisioned plans for future expansion.
The Albuquerque property, situated in New Mexico’s largest city, is a free-standing single tenant building located at 8150 Paseo Del Norte NE, and is fully occupied. Constructed in 2007 with interior renovations completed in 2019, the building spans 4,530 square feet and is positioned within one of New Mexico’s most affluent zip codes. Situated at the busy intersection of Louisiana Blvd NE and Paseo Del Norte NE, with a traffic flow of 47,500 vehicles per day, it offers ample parking and excellent frontage visibility.
About DPI Retail
DPI Retail (and its subsidiary companies) is a multi-faceted real estate investment company with expertise in management, development and redevelopment, finance, and leasing. The firm’s focus is to manage, develop and/or renovate shopping centers to institutional quality standards to benefit the company, its tenants, and the communities it serves.
For media inquiries, please contact:
Jonathan Khoury
Vice President, Real Estate
DPI Retail
310-360-3663
[email protected]
www.DPIRetail.com