GAAR Shell Building – NAIOP Award Winner

2022 NAIOP Award of Merit Winner

For many years, the building at 1645 University sat in disrepair, besieged by homeless and drug activity, falling apart due to non-use and basically was an eyesore from its prominent position on the hill beneath Albuquerque’s busy interstate interchange. In 2018, the GAAR Board of Directors formed a Building PAG to determine the feasibility of purchasing this vacant building that is adjacent to the REALTOR Office property. In 2019, the GAAR Board approved the purchase of the property at a price below the previous market value. Since then, the exterior and interior of the 1645 University building have been renovated, the parking lot paved, and fencing installed to link the two properties and parking lots together. It was ultimately determined that the best use of the property would be for leasable office space. Adding a new 2 story elevator, fully renovated restrooms on both floors, new mechanical units and new electrical service to the property has made it ready for any future office tenant that needs the space. This project completely transformed a blighted property in our city’s core to one of beauty and usefulness.