Posted 14 Jul 11 By: No comments yet

Exciting Opportunity for Albuquerque Real Estate Development

The City of Albuquerque, Peak Hospitality, LLC and NAI Maestas & Ward Commercial Real Estate have joined forces to tear down the Silver Moon Lodge and create new opportunities for the 1.3 acre site located at 918 Central Avenue on the corner of 10th Street and Central Avenue.  “Downtown lacks prime land to develop anything of significance and this property which is located at the gateway to downtown and Old Town brings just that,” said Erik Olson, senior real estate advisor of NAI Maestas & Ward.  Erik stated “The site is perfect for a mixed use development, complete with a small urban grocery store, apartments, restaurant and some service-type retail.  Our goal is to provide investors with a site that will bring value and services to Downtown area residents, visitors and local business owners.”  Erik said that the new site will be available for sale and the current owners will also consider turn key projects desirous of a location to serve an ever growing urban neighborhood.

The site was originally built in 1954 as one of the many Desert Inns that were located across the western United States.  Peak Hospitality, LLC, a local hotel management company, purchased the existing hotel in 2000 and redeveloped it into the Silver Moon Lodge which operated until 2008.  Walter Barela, the chief development officer for Peak Hospitality, said “The site is literally the Swinging Door to Downtown and Old Town Albuquerque.”  It is only blocks away from restaurants, bars, shops, galleries, the Museum of Natural History, the Albuquerque Museum, the Indian Pueblo Cultural Center, the Rio Grande Zoo, the Bio Park and Tingley Beach.

Thursday, July 14, 2011
NAI Maestas & Ward | Phn 505-878-0001

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