Premier Class-A Building Gains New Tenant Pearson-Vue for Second Floor of Main Bank Building
The Main Bank building is located near the heart of the Uptown submarket at 7300 Menaul NE, east of Louisiana. The two-story, 17,000 square foot facility was opened on March 21st, 2016 and represents a $6 million investment for the Uptown area. Main Bank President Ron Shettelsworth said he wanted a new center to better serve its clientele.
In addition to Main Bank occupying the building, 5,082 sq. ft. of Class-A space was remaining for lease on the second floor. Main Bank hired Allen Sigmon associate broker Daniel Kearney and Vice President Jeff Martinez to market the usable space.
“The main challenge of this project was that we had to build out usable office space for new tenants as the space was in “Cold Shell” condition,” said Kearney. “But this is an amazing space, and we were confident that we would be able to find a good match to occupy the Main Bank Building’s second floor.”
Nine months after the project was completed, Pearson-Vue – represented by Debbie Dupes from CBRE – approached the team with interest in a premier office space (Class-A office) for their testing center. They needed high-visibility for their test takers, ample parking, security, and a place for future growth. The Main Bank Building allows for all of that.
“A long-term lease and a brand new buildout were negotiated on 3,800 SF of Class-A office space,” said Kearney. “This will allow Pearson-Vue to tailor the space to their needs, and allow them extra space to accommodate growth and new team members. This deal marks one of the newest office building in Albuquerque being filled with a national tenant, which is huge for our local community.”
This is good news for the Albuquerque market. According to CBRE Research, vacancy rates for Class-A office spaces have been up. Some buildings have been reclassified because they weren’t able to land tenants. This should help the market grow.
About Allen Sigmon Real Estate Group
Allen Sigmon Real Estate Group is a full-service commercial real estate company with an expertise in acquisitions, brokerage, development, and property management. Based in Albuquerque, NM, we pride ourselves on knowing the New Mexico commercial market and fostering relationships in the local community.
Our office works with every kind of commercial property from office and industrial, to retail, land, and multi-family. As investors of commercial property ourselves, the Allen Sigmon Real Estate Group understands the needs and concerns of our clients.
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