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Office

BioPharma Lab + Medical Device Assembly

5700 Pasadena Ave NE, Albuquerque, NM 87113

Listing Price: $7,000,000

Cap Rate
7.72%
Gross SF
31,880
Rentable SF
31,880
Price/Gross SF
$219.57
Lot Size
3.10 acres
Year Built
2009

Investment Overview

Marcus and Millichap is pleased to exclusively present 5700 Pasadena Ave NE. The two tenant, 31,880 SF general office building was constructed in 2009, and is occupied by Essen BioScience, a wholly-owned subsidiary of Sartorius AG, & Cannon Cochran Management Services, Inc. Both tenants make up 100% of the space, and are on gross leases with base year expense stops and 2% annual rent escalations. The building is also LEED Silver certified, and profits from the 2012 installation of two large solar panels on site as part of the Public Service Company of New Mexico's clean energy initiative. Well positioned, the subject property lies on the northeast side of the Albuquerque metro area, approximately 10 miles from the central business district. The property also sits just off of I-25/CanAm Hwy, with daily traffic counts of over 67,000 cars per day. Additionally, surrounding demographics are strong with a 5 mile population of 131,348 and average household income of $92,891.

Investment Highlights

  • 2.00% Annual Escalations
  • WALT: 4.05 Years
  • LEED Silver Certification + Solar Panel Income from Public Utility Company

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    (505) 445-6333

    License(s) NM: 19583

    New Mexico

Office

BioPharma Lab + Medical Device Assembly

Listing Price: $7,000,000

Cap Rate
7.72%
Gross SF
31,880
Rentable SF
31,880
Price/Gross SF
$219.57
Lot Size
3.10 acres
Year Built
2009

Investment Highlights

  • 2.00% Annual Escalations
  • WALT: 4.05 Years
  • LEED Silver Certification + Solar Panel Income from Public Utility Company

Investment Overview

Marcus and Millichap is pleased to exclusively present 5700 Pasadena Ave NE. The two tenant, 31,880 SF general office building was constructed in 2009, and is occupied by Essen BioScience, a wholly-owned subsidiary of Sartorius AG, & Cannon Cochran Management Services, Inc. Both tenants make up 100% of the space, and are on gross leases with base year expense stops and 2% annual rent escalations. The building is also LEED Silver certified, and profits from the 2012 installation of two large solar panels on site as part of the Public Service Company of New Mexico's clean energy initiative. Well positioned, the subject property lies on the northeast side of the Albuquerque metro area, approximately 10 miles from the central business district. The property also sits just off of I-25/CanAm Hwy, with daily traffic counts of over 67,000 cars per day. Additionally, surrounding demographics are strong with a 5 mile population of 131,348 and average household income of $92,891.

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    (505) 445-6333

    License(s): NM: 19583

    New Mexico

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