By Steve Sinovic/ Journal Staff Writer
Thursday, July 27th, 2017, 3:52pm
ALBUQUERQUE, N.M. — Mighty Auto Parts is relocating its business from a leased space in Albuquerque to a portion of a 40,000-square-foot industrial facility that the local franchisee will own outright.
The transaction, announced Thursday by Allen Sigmon Real Estate Group brokers, will give the wholesale auto parts supplier more room to expand its operations to current and future clients in New Mexico, southern Colorado and Northern Arizona.
The sales price of the building at 2832-2850 Girard NE was not disclosed.
“It’s your basic bread and butter warehouse” facility with tenants already in place, said Thomas Mortensen, who, along with Ben Nolte, represented Mighty Auto Parts’ owner Richard Jones on the deal.
Mighty Auto will take over 13,000 square feet of the total space and lease out the rest, said Mortensen. “The owner feels good about the market in the long term and buying (real estate) instead of leasing expresses that confidence,” he said.
The business, which is delivery intensive, is a prime location for the company with access to the city’s two major freeways and the heavily trafficked Candelaria and Menaul corridors. Since opening six years ago, Mighty Auto Parts has operated from a leased facility at 5901 Office Blvd NE.
Mortensen said the transaction is the biggest one so far this year for the brokerage team. Paul Cook of Sperry Van Ness represented the seller.
According to its website, Mighty Auto Parts franchisees serve more than 12,000 repair facilities in the U.S.
Story originally reported on the Albuquerque Journal:
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.