HFF Closes Sale of Plaza Paseo del Norte

Plaza Paseo del Norte is under new ownership.

By Anca Gagiuc, Associate Editor

Plaza Paseo del Norte, Albuquerque
Plaza Paseo del Norte, Albuquerque

HFF announced it closed the sale of the Plaza Paseo del Norte, a 183,718-square-foot shopping center in Albuquerque, New Mexico.

The seller, Kimco Realty Corp., was represented in the transaction by an HFF investment team led by senior managing director Doug Hazelbaker and managing director Ryan Shore. The buyer was identified as Columbus Pacific Properties. Financial details about the transaction were not disclosed.

Plaza Paseo del Norte was built in 1990 and sits on 26 acres at 9227-9331 Coors Blvd. NW, in the northern part of the city. The property’s location at the intersection of Coors Blvd. NW and Paseo del Norte counts more than 120,000 vehicles per day in combined traffic.

At time of the sale, the shopping center was 96.8 percent leased to tenants such as Ross Dress for Less, Natural Grocers, Cinemark Movies West, Sears Outlet, Hancock Fabrics, Rue 21 and Dollar Tree. Target and Hobby Lobby are also at the Plaza Paseo del Norte, but were not included in the sale.

Image courtesy of HFF