June 6, 2016
The Allen Sigmon Real Estate Group, based in Albuquerque, NM, sold a 150,000-square-foot industrial property in Rio Rancher to a California buyer. The property at 4901 Rockaway Blvd. NW was listed at an $8.2 million ask.
The seller had acquired the 10-acre site in 2004 with partner, the late Roger Cox. The owners made improvements and, in 2006, financed a build-to-suit addition of 50,000 square feet for tenant Source One Spares. The tenant relocated to Arkansas, and Allen Sigmon will help the new owner lease the space. The remainder of the space is leased to Aero Mechanical.
“We are rarely sellers; we are typically buy-and-hold guys,” said company co-owner Brad Allen of the property.