Local Real Estate Group Opens Southern New Mexico Hotel
By Ron Davis – Reporter, Albuquerque Business First
July 18th, 2019
Travelers have a new place to lodge on New Mexico State University’s campus. The Courtyard by Marriott Las Cruces, developed by local firms Allen SigmonReal Estate and Total Management Systems, opened earlier this month. A grand opening for the four-story, 126-room hotel is scheduled for Thursday. Business First reported the group partnered with NMSU’s Aggie Development Inc. to build the hotel. Other NMSU officials, including former university chancellor Garrey Carruthers, worked closely with the developers, according to a release.
“They were wonderful to work with,” said Brad Allen, principal of Allen Sigmon, of the NMSU officials in a statement. “This project exemplifies what private and public sector cooperation can accomplish.”
Hotel amenities include an outdoor swimming pool, a fitness center, guest laundry, 675 square feet of meeting space that can accommodate up to 72 people, and more, according to a release.
Business First reported Total Management Systems was awarded a request for proposal in 2014 to build the project, which had a price tag between $16 million and $18 million. The hotel, which is set to be managed by Total Management Systems, was developed on a 2.7-acre site over the past two years.
Earlier this year Allen Sigmon principals Allen, Lance Sigmon and Total Management Systems President Prakash Sundaram partnered to purchase Uptown Tower, a seven-story office building at 2440 Louisiana Blvd. across the street from Coronado Mall, 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 transactions volume in 2018.
Originally reported on ABQ Biz First: https://www.bizjournals.com/albuquerque/news/2019/07/18/local-real-estate-group-opens-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.