Rhino Investments Group, a Las Vegas-based commercial real estate firm specializing in value-add investments, has acquired Pavilions at San Mateo, a 148,749-square-foot retail shopping center in Albuquerque, New Mexico.
Pavilions at San Mateo was built in 1997 and is positioned along Interstate 40 and San Mateo Boulevard. The site is anchored by Walmart Neighborhood Market and other prominent tenants include Old Navy, Shoe Dept., Rack Room Shoes, Dollar Tree, Orange Theory Fitness, Einstein Bros Bagels, and Supercuts.
The financial aspects of the transaction were not disclosed.
“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.”