Rhino Investments Group Acquires Pavilions at San Mateo, Expanding Presence in Albuquerque's Premier Retail District
ALBUQUERQUE, NM / ACCESS Newswire / February 4, 2025 / Rhino Investments Group (Rhino), a leading Las Vegas-based commercial real estate firm specializing in value-add investments, is excited to announce its acquisition of Pavilions at San Mateo, a premier retail shopping center located at 4500-5010 Cutler Avenue NE, Albuquerque, NM. This acquisition is a key addition to Rhino's growing portfolio and underscores its commitment to investing in high-quality assets in top-tier markets with significant long-term growth potential.
Pavilions at San Mateo is a 148,749-square-foot Walmart Neighborhood Market-anchored shopping center that offers a strong mix of national and regional retailers. Key tenants include Walmart Neighborhood Market, Old Navy, Shoe Dept., Rack Room Shoes, and Dollar Tree, with notable additional tenants like Orange Theory Fitness, Einstein Bros Bagels, and Supercuts. The center, built in 1997, is strategically positioned along the high-traffic Interstate 40 and San Mateo Boulevard, providing exceptional visibility and access to over 150,000 vehicles daily.
"We are thrilled to expand our portfolio with the acquisition of Pavilions at San Mateo, which is ideally located in one of Albuquerque's most desirable retail districts," said Sanjiv Chopra, CEO of Rhino Investments Group. "The property's high occupancy rate, strong tenant lineup, and proven retail performance align perfectly with our strategy of acquiring well-located assets with robust upside potential."
The property benefits from a strong local demographic, with more than 198,000 people within a 3-mile radius and average household incomes exceeding $70,000 within one mile. Pavilions at San Mateo is currently 92% leased, demonstrating its stability and appeal to both national and regional tenants. Rhino sees significant opportunities for further value creation through potential lease-up of available spaces and strategic tenant improvements.
In addition to its existing strengths, Pavilions at San Mateo is situated in a high-growth area with easy access to major roads and proximity to key employers, including Sandia National Laboratories and the University of New Mexico, further bolstering the property's long-term prospects.
"This acquisition marks a significant milestone for Rhino as we further strengthen our presence in Albuquerque, along with our growing portfolio across New Mexico," said Sanjiv Chopra. "Albuquerque's dynamic commercial real estate landscape offers tremendous potential, and we are committed to continuing our investment in the region. Our focus remains on enhancing the performance of Pavilions at San Mateo and ensuring it remains a thriving retail hub for the local community."
The property will be managed by Colliers' Real Estate Management Services team from their Albuquerque office. "This is our second property management assignment awarded to Colliers," said Becca Wall, Vice President of Operations. "They have done an excellent job managing our Zecca Plaza project," she continued, referring to Rhino's July 2024 acquisition of a 111,000-square-foot, Albertsons-anchored shopping center in Gallup, New Mexico. "We look forward to further expanding our partnership with Colliers across New Mexico," Ms. Wall added.
Leasing for the property will be handled by Colliers' leasing specialists, led by Chase Ruffin and Ben Perich, also out of Colliers' Albuquerque office.
About Rhino Investments Group
Rhino Investments Group is a leading commercial real estate firm based in Las Vegas, Nevada, specializing in value-add investments across retail and commercial real estate. With a proven track record of successful acquisitions and asset management, Rhino focuses on transforming properties to deliver exceptional returns for investors. For more information, visit www.rhinoig.com.
Contact Details:
Rhino Investments Group
tednoff@rhioig.com
SOURCE: Rhino Investments Group
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