New Office Project Started in Albquerque

Aug. 13--Construction is scheduled to begin this week on a speculative building at John Mechenbier's high-profile office project on Pan American NE, between Montano and Comanche. The 24,400-square-foot building will be immediately north of the...

"We're trying to pull in elements of the courthouses and office buildings in the area," Pirtl said.

The project will cost an estimated $1.2 million and take six to seven months for the building shell.

Burgett, also a licensed real estate broker, is marketing the space on his own at asking lease rates in the $18-$22 range with a standard office build-out.

"We think we have enough contacts to market it ourselves," he said. " We've gotten a lot of feedback from people saying, 'Call us when you get it going.' ''

Burgett and Wainwright have previously collaborated on the development of two industrial buildings, one in the North I-25 corridor and the other in Rio Rancho. This is their first office property.

UPTOWN TO DOWNTOWN: Hunt Development Group, which has had a temporary office in 1,150 square feet in Uptown, is moving Downtown.

The developer of ABQ Uptown is opening a permanent office in 4,000 square feet at Albuquerque Plaza, the 22-story office tower at 201 Third SW.

"We selected Downtown because it is the financial and government center. ... Our business requires interaction with the public sector and banking and legal communities," said Hunt's lead developer in New Mexico, Gary Sapp, in an e-mail.

"The adjacency of the Hyatt (Regency) hotel is also very attractive for out-of-town visitors," he said.

Copyright (c) 2007, Albuquerque Journal, N.M. Distributed by McClatchy-Tribune Information Services.