Ben Nolte, CCIM at NAI SunVista closed the sale of 3200 Candelaria Rd NE, a 7,210 SF fenced yard warehouse listed at $1,500,000 in Albuquerque, New Mexico, despite four known environmental cases, representing the seller exclusively through a complex transaction in the Warehouse District corridor.
— NAI SunVista Senior Advisor Ben Nolte, CCIM announced the closing of 3200 Candelaria Rd NE, a 7,210 square foot fenced yard warehouse in Albuquerque, New Mexico. The property was listed at $1,500,000 and sold to a local Albuquerque company acquiring the facility for owner-user occupancy. Nolte represented the seller exclusively throughout the marketing and transaction process.
The transaction presented notable complexity. The property carried four known environmental cases: two formally released, one in the process of release, and one continuing to be monitored. A new Phase I Environmental Site Assessment and ALTA Survey were completed prior to listing, giving prospective buyers and their lenders a fully documented picture of the environmental status before going under contract.
“This deal required positioning the environmental status accurately and finding a buyer who understood the difference between active contamination and documented remediation in process,” said Ben Nolte, CCIM, Senior Advisor at NAI SunVista. “The property’s fundamentals were strong: a hard corner location, fenced yard, dock-high loading, and three-phase power; and being in both a HUB Zone and an Opportunity Zone created real incentives for the right buyer. We found that buyer in a local Albuquerque company that will put the facility to good use.”
3200 Candelaria Rd NE is situated at the corner of Candelaria Road and Richmond Drive NE in Albuquerque’s Warehouse District, with visibility to more than 20,000 vehicles per day and less than five minutes of drive time to both I-25 and I-40. The property carries NR-C zoning and is designated as both a HUB Zone and an Opportunity Zone.
Property details:
- Building: 7,210 SF warehouse with office
- Storage shed: 2,400 SF included
- Site: 1.056 acres, fully fenced yard
- Loading: 2 grade-level roll-up doors, 1 dock-high roll-up door
- Clear height: 12 feet at eaves, 22 feet at peak
- Power: 200-amp, 3-phase
- Zoning: NR-C
- Designations: HUB Zone and Opportunity Zone
- Listed at: $1,500,000
Ben Nolte noted that properties with documented environmental histories in various stages of remediation are a common feature of older industrial corridors in Albuquerque, and that transparent pre-market documentation is the most effective tool for getting these transactions to close.
The complete case study on this transaction, including the positioning strategy, buyer profile, and lessons for industrial property owners in Albuquerque with complicated histories, is available at: https://bennoltecre.com/albuquerque-warehouse-sold-environmental-cases/
About Ben Nolte, CCIM at NAI SunVista
Ben Nolte is a Senior Advisor at NAI SunVista in Albuquerque, New Mexico, specializing exclusively in industrial real estate including warehouse, flex, manufacturing, fenced yard, and government contractor facilities across the Albuquerque metro and throughout New Mexico. He holds the CCIM designation and is a Member Associate of the Society of Industrial and Office Realtors (SIOR). NAI SunVista is a full-service commercial real estate firm serving New Mexico since 1996 and a member of the NAI Global network spanning more than 55 countries. For more information on this transaction or to discuss industrial property sales, leasing, or acquisitions in Albuquerque, contact Ben Nolte.
Contact Info:
Name: Ben Nolte CCIM
Email: Send Email
Organization: Ben Nolte CRE
Address: 2424 Louisiana Blvd NE Ste. 100 Albuquerque, NM 87110
Phone: (505) 270-4386
Website: https://bennoltecre.com/
Release ID: 89198724
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