Altura Office Complex
Extraordinary Value-Add Asset with Significant In-Place Income or an Exceptional Owner-User
Marketing description
Institutional Property Advisors (IPA), a division of Marcus & Millichap, and Argus Investment Realty are pleased to offer for sale 4101 Indian School Road NE, Albuquerque, NM (the “Asset” or “Property”). This Asset is a +/- 109,504 SF, multi-tenant office project with prominent frontage along Interstate 40 (I-40) located in one of the most sought after office submarkets in Albuquerque.
This Asset offers a unique value-add opportunity created by a upcoming vacancy on over 1/3 of the building. This creates the potential for repositioning of the vacancy to capitalize on the increasing rental rate environment of Albuquerque’s office market. Alternatively, this opportunity allows an owner-user a phased occupancy in a high quality Asset while collecting in-place cash flow.
Investment highlights
Owner User Opportunity
Rare opportunity for an owner-user to secure a presence in one of Albuquerque’s most prestigious and supply-constrained submarkets
Entire ground floor available for an owner-user starting in September 2026, additional future lease expirations will enable strategic phase occupancy into additional space within the building
Strong market fundamentals paired with near-term lease flexibility offer a compelling blend of stability and optionality
Short weighted average lease term (WALT) of approximately 2.22 years provides immediate in-place income with built-in transition potential
High Quality Office Building
+/- 109,504 SF four-story building constructed in 1999
Mounted signage facing I-40 with 99,000 VPD - high-visibility signage facing the interstate provides a significant advantage by maximizing brand exposure and attracting top-tier tenants
Underground private parking totaling 131 spaces and storage areas in the basement level, a rarity in the Albuquerque market
Expansive central atrium with a timeless rock and water formation
The Property’s prominent glass curtain walls and architectural detailing create a professional, high-image environment attractive to tenants and visitors alike
Investment Opportunity with A Very Low Basis Providing Long-Term Competitive Edge
Exceptional value-add investment opportunity with 100% current occupancy and secure, in-place cash flow
Largest tenant (34% of building) set to vacate in September 2026, aligning with strong upward momentum in the University submarket in Albuquerque
Strong market fundamentals with no new inventory under construction and only 64,000 SF delivered in the entire Albuquerque market over the past 5 years, limiting the available competitive product
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