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August 20, 2019
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RETAIL NEWS
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New Mexico Staples Sells for $123/sf

5/15/19

A 24k sf Staples, The Office Super Store in Hobbs, NM sold for $2.948 mil, or $123/sf. Hobbs is a “high desert” town centrally located between Lubbock TX, Midland, TX and Roswell, NM.

Built in 1998, the property is located at 1731 Turner St. There is just less than five years remaining on the current lease.

David Ridgway of Marcus & Millichap represented both the buyer, Santa Ana-based Red Mountain Realty Group, and the seller, a family trust. Broker of Record Matthew Reeves also assisted in the transaction.





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