Posted 15 Feb 18 By: No comments yet

Gymnastics academy lands 32,700-square-foot building

A 32,700-square-foot building has a new owner and will soon be home to tumbling tots and gymnasts.

Sandia Acrobatic Gymnastics Academy has bought a building at 3400 Candelaria Road Northeast, according to NAI Maestas and Ward Director Shelly Branscom. The sales price was listed at $2.1 million – about $64.22 per square foot.

Branscom, along with Maestas and Ward's Rich Diller, represented the buyer and Paul Cook and Corinna Yonemoto-Brown with SVN Walt ArnoldCommercial Brokerage Inc. represented the seller. The deal closed in December.

SAGA owner Erin Rice had previously leased her 15,000-square-foot space for over 15 years, explained Branscom. Rice's new building, which she found after a couple months of hunting for real estate, is over doubling her space and will be home to an office area, a locker room and the gym school.

On the corner of Candelaria Road and Carlisle Boulevard, the metal building used to be the warehouse space for Baker Distributing Co. The CBRE Industrial Marketview showed the industrial market vacancy rate is at 5.7 percent overall. It also stated the "North I-25 submarket led demand among all submarkets, recording 148,424 square feet of positive net absorption."

Branscom, who has also recently been sworn in as the 2018 CCIM New Mexico chapter president, noted nationally commercial real estate is typically ahead of the Duke City, but she saw Albuquerque starting to mirror national trends in the fourth quarter. Specifically, she's seen an uptick in owner-user-buyer opportunities such as Rice's purchase.

By:  Shelby Perea, Real Estate Reporter - Albuquerque Business First

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