By Shelby Perea/ Digital Producer Albuquerque Business First
Jun 1, 2017, 8:02am MDT
What do a testing center and a bank have in common? The answer is a need for high security. And that is one of the reasons Main Bank’s building just got a new tenant.
The building, located in the Uptown area at 7300 Menaul NE, represents $6 million of investment from Main Bank. While the 17,000-square-foot facility houses the bank, there was also a Class A space on the second floor that the company was looking to lease.
Allen Sigmon Real Estate Group Associate Broker Daniel Kearney said after about 10 months of vacancy, Pearson VUE was signed as the tenant. He was not able to disclose the terms of the deal or how much Pearson would be paying Main Bank in rent.
Main Bank hired Allen Sigmon to market the vacant office.
Kearney said the lease is “long term” for the 3,800-square-foot space, which is larger than Pearson VUE’s previous location on Louisiana and Menaul boulevards. Kearney couldn’t say whether Pearson was planning on expanding its workforce but did confirm the new space could accommodate new team members and growth.
Pearson VUE chose the Uptown area because it is centrally located and near Interstate 40, explained Kearney. He also said its clientele is all over the state and the company wanted a building with higher visibility and was easier to find.
Kearney said three other tenants were seriously considered but Pearson VUE was chosen because of its national presence. Pearson VUE was also a good fit because it requires high security for the nature of tests it provides. He couldn’t say who the other potential tenants were but did say they were financial or accounting companies.
The deal was in the works for about four months, according to Kearney.
There is also another Class A space still aiming to be leased in the building.
Minneapolis-based Pearson VUE is a national test taking center that helps manage, deliver and develop computer-based tests.
Main Bank was No. 43 on Albuquerque Business First’s Bank List with $104.66 million in deposit volume.
Story originally reported on the Albuquerque Business First:
Allen Sigmon Real Estate Group is a full-service commercial real estate company based in Albuquerque with an expertise in acquisitions, brokerage, development, and property management. As a local company, we pride ourselves in our knowledge of the New Mexico commercial market and the relationships we are able to foster compared to larger national firms. Our office works with every kind of commercial property; including office, industrial, retail, land, and multifamily.
Our understanding of client needs and concerns not only comes from our experience as an office but also as owners and investors of commercial property ourselves. We have an excellent team in place that is eager to work on your behalf; our results speak for themselves.