ALBUQUERQUE, NM-Columbus Pacific Properties Inc. has made itssecond acquisition in New Mexico, buying Cottonwood Commons, an84,545-square-foot power center for an undisclosed amount. Theseller was Dallas-based developer Worth Williams Properties.
Local experts say the Santa Monica, CA-based buyer paid $9million for the property, which is anchored by Bed, Bath &Beyond, Cost Plus World Market and Petco. That sale price wouldrepresent the biggest retail deal in the city in 2010, according toa recent report from Real Capital Analytics.
Located at 3601 Old Airport Rd. in northwest Albuquerque,Cottonwood Commons is within the city’s growth path and adjacent toCottonwood Mall and Lowe’s Home Improvement. It was 86% occupied atclosing.
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