$6.5M renovation to transform idle Southeast ABQ site

A vacant industrial facility in Southeast Albuquerque will welcome manufacturing operations once again, with two tenants expected to occupy and begin utilizing the space starting mid-2025.

Geltmore Karsten LLC is investing $6.5 million to renovate the property, aided in part by $5.6 million in city-issued industrial revenue bonds, or IRBs, approved by the Albuquerque City Council on Monday.

The property, formerly a food processing facility for Tattooed Chef, has been empty at 2810 Karsten SE since 2023, when the plant-based food brand filed for bankruptcy.

Geltmore LLC, a local family-owned commercial real estate development firm established in 1991, acquired the 56,000-square-foot facility for $6.2 million under the Geltmore Karsten LLC in December 2024, according to Adam Silverman, the firm’s vice president.

The intention of the acquisition was to expand Bee Clean, a New Mexico hand sanitizer company that Geltmore LLC owns and operates. Silverman said Bee Clean’s increasing traction and recent discussions regarding a future national presence were the “impetus for this facility purchase.”

As a result of facility renovations, Bee Clean will move all of its manufacturing operations and take up roughly 20% of available space at the property, Silverman said, leaving room for a second tenant.

That second tenant was supposed to be Happy Accidents, a local bar on Central, which was going to open a distillery to manufacture liquor in the space. However, Silverman said the two recently came to the mutual decision that the bar wasn’t “prepared to take the facility due to some things that they’re working on,” adding it was a “happy breakup.” An owner of Happy Accidents declined to comment.

Silverman declined to name the new second tenant that Geltmore is currently in negotiations with, but said that it is a “similar” business and that the deal should wrap up before the end of April.

Between the two tenants, the property’s restored manufacturing operations are expected to create about 80 full-time jobs, Silverman said. The project is also estimated to generate about $9 million in tax revenue by 2043, according to a fiscal impact analysis by the University of New Mexico’s Bureau of Business and Economic Research.

IRBs are incentives from government bodies that provide tax breaks for companies looking to expand. The IRBs pose no financial risk to the city, as they are self-funded by the company and don’t utilize public dollars, according to a news release.

Silverman said the support will allow Geltmore Karsten LLC to work with the city on a property tax abatement, non-taxable transaction certificates and other development incentives.

In a statement, Mayor Tim Keller said the partnership and project were “a great example of how we can strategically support economic development.”

He added, “It’s not just about jobs — though they matter — it’s about revitalizing key properties, encouraging innovation and building a stronger foundation for the future of Albuquerque’s economy.”

Silverman said the sanitizer company launched about 15 years ago and was facing bankruptcy when Geltmore LLC, an investor, acquired it in 2020. Geltmore LLC got Bee Clean out of bankruptcy in 2021, the vice president said.

“We really liked it — really liked the fact that it was based here in Albuquerque, and we want to support the local economy and create more jobs. And that’s a unique occurrence when you get to do all three,” Silverman said.

Silverman said the facility’s ongoing renovations — including general improvements such as electrical updates, adding office spaces, installing epoxy flooring and cleanup — should be completed in the next six weeks, allowing tenants to move in by the middle of May.

The move to the new facility will bring about a new line of products and the ability to explore packaging products for other small businesses in the state.

“We are really looking forward to making Bee Clean not only a regional brand, but a national brand,” Silverman said.