1409 N Renaissance Blvd NE

Pegasus Group is pleased to offer for sale the fee simple interest (Land & Building) to a prominent two-tenant investment opportunity in Albuquerque, NM. The Galleria @ Renaissance is a shadow anchor shopping center to the dominant Regional Power Center anchored by Home Depot, Costco, Sam’s Club, and Sportsman’s Warehouse. This high-yield investment (7.85% initial return) features rents well below market leaving room for potential upside over time. The subject property is well below replacement cost at $122 PSF.

The ODP Corporation, is the parent company of Office Depot/OfficeMax, with headquarters in Boca Raton, Florida. It is a leading provider of business services and supplies, products, and digital workplace technology solutions to small, medium, and enterprise businesses, through an integrated business-to-business (B2B) distribution platform, which includes world-class supply chain and distribution operations, dedicated sales professionals, and technicians, online presence, and about 980 stores. The company has combined annual sales of approximately $8.5 billion and employs about 38,000 people in the US.

Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores with two iconic brands; Dollar Tree and Family Dollar. Headquartered in Chesapeake, Virginia. it is a Fortune 500 company and operates more than 16,000 stores throughout the 48 contiguousU.S and Canada. Its stores are supported by a nationwide logistics network of 25 distribution centers. THE COMPANY has combined annual sales of approximately $28.3 billion and employs about 200,000 people in the United States.

Strong trade area demographics include a population of approximately 940,000 people within the Albuquerque MSA. The Galleria @ Renaissance is prominently located within the heart of the Albuquerque Metro conveniently located near the I-25 & Montaño freeway exit. As the dominant center of commerce serving the State of New Mexico, Albuquerque is further benefited by significant traffic coming from all directions.

Two Corporate Executed Leases

Shadow Anchored by Costco, Home Depot, and Sam’s Club

High Yield Investment – 7.85% Cap Rate

Low Cost PSF Investment - $122/Sf

Two Tenant NN Leased Investment

Below Market Rents for Both Tenants

Strong Trade Area Demographics | Over 235,000 People within 15-Minute Drive-Time

Albuquerque, NM is the top MSA in the State of NM.