TRUTH OR CONSEQUENCES, NEW MEXICO – AlbaneseCormier Holdings is pleased to announce its expansion into the state of New Mexico after the successful acquisition of Lakeway Shopping Center. The property was purchased from national REIT Phillips Edison & Company for an undisclosed price. Eric Wohl of Hanley Investment Group represented the buyer.
The 77,616 square foot property is located in Truth or Consequences, New Mexico, the county seat of Sierra County along the Rio Grande River. Easily accessible and surrounded by tourist attractions, Lakeway Shopping Center is just 1 mile from Interstate 25 and is within close proximity to Elephant Butte Lake State Park, the largest and most popular state park within New Mexico. The lake attracts more than 1 million annual visitors.
With a diverse tenant mix including national tenants like Bealls, Burke’s Outlet, Dollar General and Subway, the shopping center is the dominant retail destination in Truth or Consequences.
This is the first property within the state of New Mexico for AlbaneseCormier Holdings, the commercial real estate holding company headquartered in Beaumont, Texas. The company also has property in nearby neighboring states, including Texas, Kansas and Louisiana.
ALBANESECORMIER HOLDINGS
AlbaneseCormier Holdings is a commercial real estate development company currently holding more than 2.5 million square feet of strategically placed assets throughout Texas, Louisiana, Mississippi, Colorado, Arkansas, Nevada, Missouri, Tennessee, Kentucky, Kansas and New Mexico. For more information about our company or on any other property within the ACH portfolio, please visit www.AlbaneseCormier.com or contact the main office at (409) 892-0200.
