STNL State of New Mexico Office Building | Government Backed Lease
|Catylist Listing ID:
Governmental, Net Leased, Office Building
|Building Size (RSF):
|Gross Building Area:
|Gross Land Area:
|Property Use Type:
||Net Leased Investment (NNN)
|Class of Space:
||Cash to Seller
Overview / Comments
The subject property is a 31,061-square foot Class B office building for the Office of the State Engineer for the State of New Mexico located in Albuquerque, NM. The building was a 2009 build-to-suit construction that features 148 parking spaces. The State of New Mexico signed a gross lease featuring attractive annual increases throughout the initial term and two (2) 5-year renewal options. The Office of the State Engineer is charged with administering the state's water resources. The State Engineer has authority over the supervision, measurement, appropriation, and distribution of all surface and groundwater in New Mexico.
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