ALBUQUERQUE, N.M. — With New Mexico’s tourism numbers rising, tourism promoters are always eager to see more hotel rooms coming on line for business and leisure travelers.
A series of openings by Fairfield Inn & Suites by Marriott in Santa Fe and Albuquerque should help on the lodgings front, specifically the Duke City Fairfield that recently opened for business along “restaurant row” in the North Interstate 25 corridor.
The hotel is at 4875 Pan American NE, 10 miles from the Albuquerque International Sunport, five minutes from Downtown and close to various restaurants like Bubba’s 33 and Cheddar’s Casual Cafe.
According to a news release, the property boasts modern design features, including an updated exterior with a signature tower, a curved porte-cochere and a glass entrance. The interior’s open public space features natural light and views throughout the lobby that connects the indoors with the outdoors. The lobby offers both a living area and a 24/7 Corner Market for breakfast and snacks. The signature “smart” room décor includes a work area, an ergonomic chair, task lighting and electrical outlets.
Construction costs for the Albuquerque hotel, which is owned by Dreamcatcher and managed by Sun Capital Hotels, were not disclosed.
The suite life
A senior living community with 77 suites is underway in Rio Rancho.
Co-developers MorningStar Senior Living and Confluent Development have broken ground on MorningStar of Rio Rancho, which is targeting residents needing assisted living and memory care.
The developers expect to complete construction in December 2018, with an information center opened by May.
Located on the northwest corner of Westside Boulevard and Golf Course Road, the 71,000-square-foot development will feature a mix of studio, one- and two-bedroom units, featuring 51 suites dedicated to assisted living and 26 suites geared to individualized care of residents with memory impairment.
The development marks the second collaboration of the project partners in Albuquerque, who opened a facility in February 2016 in the Northeast Heights.
Rosemann & Associates is the architect for the new development, New Mexico-based Bradbury Stamm Construction is the general contractor, and Thoma-Holec Design is the interior designer.
Broker takes CCIM reins
Shelly Branscom, a director of NAI Mastesas & Ward commercial real estate company, has another job in 2018: taking the reins as president of the Certified Commercial Investment Member chapter of New Mexico.
She said CCIM New Mexico provided a significant amount of mentorship, guidance and support to her as a young broker. “It is my heart’s desire to pay it forward,” said Branscom, who started her career over a decade ago.
The CCIM lapel pin is earned after successfully completing a designation process that ensures CCIMs are proficient not only in theory, but also in practice. The 80 New Mexico members include brokers, leasing professionals, investment counselors, asset managers, appraisers, corporate real estate executives, property managers, developers, institutional investors, commercial lenders, attorneys, bankers, and other allied professionals.
CCIM New Mexico was the 10th chapter formed in the U.S. and was founded in 1973. Today, it conducts monthly deal-making meetings for CCIM members, sponsors and affiliates and actively promotes the designation by funding scholarships.
Steve Sinovic is the Journal’s real estate reporter. He can be reached at firstname.lastname@example.org or by calling 505-823-3919.