Press Release

New Industrial Speculative Building Breaking Ground in Albuquerque in September 2021

August 18, 2021

CBRE announced a new 83,821-square-foot speculative industrial building will be breaking ground mid-September in Albuquerque’s South I-25 corridor.

3750 Prince Street SE will offer spaces for lease ranging from 30,000 square feet to 83,821 square feet. The new industrial building will feature 32-foot clear ceiling height, dock doors, ramped drive-in doors, ESFR fire sprinkler system and 52’X52’ column spacing. With M-2 industrial zoning the property can accomodate many industrial uses. At the east side of Prince Street, just north of Rio Bravo Blvd, the location provides easy access to Interstate 25, as well as all quadrants of the city.

The property is owned by Tract A-1 LLC and is being developed by experienced local developer, Cauwels Investments LLC. The building is expected to be completed and ready for tenant improvements by the first quarter of 2022. The development team will include Wilger Enterprises, Aria Studio Consultants, Bank of Albuquerque and CBRE.

According to the CBRE H1 2021 Industrial Marketview, the Albuquerque industrial market is at an unprecedented 1.8 percent vacancy rate - the lowest vacancy rate on record. In the first half of 2021, 96 percent of the industrial space under construction has been build-to-suit projects, further contributing to the low availability of industrial space in the market.

“Industrial demand during the first half of 2021 has been high, however, with very little speculative construction, we don’t have many options for industrial users looking to enter the market,” said Jim Smith, First Vice President, CBRE. “This new state-of-the-art building will provide much needed inventory for our clients interested in being a part of the economic growth in the Albuquerque market.”

For more information on 3750 Prince Street SE, please contact Jim Smith at 505-837-4923 or Brecken Mallette at 505-837-4914.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.