Premier Uptown Office Tower Acquired by Local Development Group
The ink has dried on one of the biggest real-estate deals in the Albuquerque Metro area. Lance Sigmon, Brad B. Allen, and Prakash Sundaram have finalized the purchase of 2440 Louisiana Blvd, a seven-story office building in the heart of Albuquerque’s Uptown corridor.
Immediately east of Coronado Mall and north of ABQ Uptown, the Uptown Tower office building will be redeveloped to include new exterior finishes, architectural elements, and lighting. A new contemporary lobby designed to facilitate collaborative experiences among tenants will also be added, along with updates to the existing lobby. Retail opportunities along Louisiana Blvd are available as well.
“We are excited to get to work,” said Sigmon, who has been working on this deal since mid-2018. “Not only are we going to improve the Uptown Tower for the current tenants, we are going to modernize the façade and add some great architectural elements. We want this building to stand out as a cool, unique piece of architecture that makes a statement.”
The Uptown Tower will be locally managed and leased by Allen Sigmon Real Estate Group. Currently, there are spaces available for lease in sizes ranging from 1,000 – 60,000 sq ft. Multiple full floor plates of 16,000 sq ft are available, including the top floor premier suite. Prices for the Uptown Tower building start at $18.50 per sq ft on a full-service basis.
“We are a local company that cares about this community and improving properties,” said Allen. “The Uptown Tower is an iconic building in an A+ location and deserves to look as good as its location. This is some of the best real-estate in New Mexico, and we’re excited to have the building back in local ownership hands.”
Allen and Sigmon have partnered with Prakash Sundaram on multiple projects, including Home2 Suites in Albuquerque and Marriott Courtyard at NMSU in Las Cruces.
“I am thrilled to join my partners in the acquisition of this fantastic building in Uptown Albuquerque,” said Sundaram. “The plans we have for this building are exciting and will transform the area. We look forward to leading the way to invigorating the Uptown sector, with our exciting plans for this building and other upcoming projects. More to come!”
Current tenants of the building include Lewis University, ABQ Skin Care, John Thomas Jewelers, and True Heath New Mexico. The development group closed on the Uptown Tower on February 15th, 2019.
Want to Lease Office Space at ABQ Uptown Tower?
If you’re interested in office space at ABQ Uptown Tower, contact Allen Sigmon Associate Broker Jordan Shipley. The great thing about this building, besides the awesome location, is that it is primed for a company’s growth. A tenant could take up half a floor now, and in a couple of years expand to the entire floor or even take up multiple floors. This is unique for the Albuquerque Uptown Area. The business owners I have talked to have stated that this is a huge differentiator.
About Allen Sigmon
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