The Comanche Business Center went up for auction on March 28 with Roger Cox as the sole bidder on the 131,760-square foot complex. Roger Cox & Associates picked up the development for $7.1 million according to a New Mexico Business Weekly article. "We've been tracking this project for the last year and a half, and then things just came together and Roger ran with the opportunity. It's an excellent Class A facility, and our job now is to fill up the vacant space. Roger is always looking at opportunities," said Brian Anderson of Roger Cox & Associates.
Located at 2420 Comanche Road NE in Albuquerque, the complex was developed by G.I.D., constructed in phases and completed in 2006. REA Advisors' Tom Jenkins represented Contrarian Capital who had acquired the note on the project. G.I.D. had acquired the property at the height of the market in 2007 but the debt on the project, nearly $10 million, was more than the property's valuation and was forced to give the property back to the lender according to the article.
For more news and information visit Blumberg Capital Partners.
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