ABQ Developers Partner to Build Southern New Mexico Hotel - Home2 Suites
By Ron Davis – Reporter, Albuquerque Business First
Nov 4, 2019, 3:58pm EST
The idea to build Alamogordo’s newest hotel came from a plumbing subcontractor of Total Management Systems.
About two years after taking the advice to pursue an extended-stay project in the area, Albuquerque developers Total Management Systems and Allen Sigmon Real Estate Group are set to break ground on a new Home2 Suites by Hilton off Highway 54 on Wednesday. The groundbreaking comes amid an uptick in activity at the Holloman Air Force Base nearby. The 4-story, 90-room hotel will include refrigerators, dishwashers and kitchen sinks in units and will have a lobby that overflows into an outdoor seating marketplace, a business center, meeting rooms to use for special events and an outdoor seating area with fire pit and barbecue. It will also feature an outdoor pool, fitness center and guest laundry rooms. Lance Sigmon, principal at Allen Sigmon, said he was attracted to the location as a movie theater and a family entertainment center are close by. New housing as well as vacant land for possible restaurant development are also in proximity to the hotel.
“We just kind of fell in love with the concept that this hotel will be surrounded by all these other amenities,” Sigmon said.
Total Management Systems will manage the hotel upon the opening of the project, which is expected to be in early 2021. Hilton confirmed the project and its timeline in an email to Business First on Monday.
“There’s a limited selection of hotels there and the nicer ones always seem to do really well in that market,” Total Management Systems President Prakash Sundaram said. “It will go after some of the more extended-stay travelers to the area, not only for Holloman Air Force Base and White Sands Missile Range but also leisure travelers who go to visit White Sands.” Sundaram’s company, Sundaram Builders, will be the general contractor and Albuquerque-based Peter Butterfield is the architect of the hotel. The developers said they went through Enterprise Bank & Trust for the financing of the project.
Sigmon declined to disclose the cost of the project.
Sigmon and Sundaram’s firms also partnered to develop The Courtyard by Marriott Las Cruces — a 126-room hotel that opened this summer — and purchase Uptown Tower, a seven-story office building at 2440 Louisiana Blvd. across the street from the Coronado Center, for an undisclosed price.
Allen Sigmon ranked No. 7 on Business First’s List of Largest New Mexico Commercial Real Estate Firms with $46.75 million in commercial transaction volume in 2018.
Originally reported on ABQ Biz First: https://www.bizjournals.com/albuquerque/news/2019/11/04/abq-developers-partner-to-build-southern-nm-hotel.html 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.