Arrowhead Center has entered into a development agreement with Albuquerque-based RIO Real Estate Investment Opportunities, LLC, to provide finance, development, and construction services for Arrowhead Park, located at the intersection of Interstates 10 and 25 on the southern end of the New Mexico State University campus. The Park is a planned innovation community providing land, space, services, and connections to NMSU for existing and startup companies. This agreement comes about as a result of a competitive Request for Qualifications procurement seeking a new partner for approximately 120,000 square feet of development over the next three years.
“Arrowhead is pleased to partner with a New Mexico company that brings a strong history of industrial and office development throughout New Mexico, but also provides integrated design, engineering, and brokerage services,” says Wayne Savage, Executive Director of Arrowhead Park. The first project to be built by RIO for Arrowhead Center will be a new 40,000 square foot Innovation Center that will be a flagship facility for all of Arrowhead’s innovation and entrepreneurship programs for students, faculty, and private sector companies and startups. Design will begin later this summer, with groundbreaking scheduled before year-end.
“We are excited to be part of a unique opportunity to partner with Arrowhead Center and to help with economic development opportunities and job growth for the area,” said Robin Dyche, Managing Member, Rio Real Estate Investment Opportunities, LLC. “Rio’s goal is to work with Arrowhead Center to develop the Park as the premier regional community for science and technology,” added Dyche.
About RIO Real Estate Investment Opportunities, LLC
RIO Real Estate Investment Opportunities, LLC (RIO) is a leading New Mexico real estate development company specializing in land use planning, brokerage, and investment partnerships. RIO’s staff of real estate professionals represent many of New Mexico’s real estate investors, developers, architects and engineers. As a result of RIO’s pursuit of brokerage and development opportunities statewide, the company leads the state in industrial park land availability. For further information, please contact Robin Dyche, CCIM, or Tim MacEachen, CCIM, SIOR, at 505.296.6388, rio-re.com.