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Colliers in the News - The Health Village at Rio Rancho

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California developer planning 65-acre health sciences project in Rio Rancho

Rio Rancho has long been known for its high-tech workforce, particularly those working at computer chip manufacturer Intel.

But city officials and an out-of-state developer are hoping to make the City of Vision a hotspot for a different industry.

On a 65-acre plot next to the Presbyterian Rust Medical Center, California-based real estate management and development firm Geringer Capital is looking to build The Health Village at Rio Rancho — a proposed multi-use development consisting primarily of medical tenants, along with some retail space.

The proposed project is being planned by Tennessee-based Easter Healthcare Consulting. Dallas-based engineering and architecture firm Huitt-Zollars is also working on the project.

The site of the proposed development is owned by Sandia View LLC, an affiliate of Geringer Capital.

"We have two major [medical] anchor tenants in our community," Rio Rancho Mayor Gregg Hull said of the University of New Mexico's Sandoval Regional Medical Center and Presbyterian Rust.

The project could help fill an opportunity gap for a well-trained medical labor pool already in town, and could help stop educated people from leaving the area, Hull said.

The departure of some of New Mexico's educated and talented workforce has become a major concern for some New Mexicans. While New Mexico's population has remained relatively stagnant in recent years, 42,000 more people left the state between 2011 and 2015 than entered it, according to data from the UNM Bureau of Business and Economic Research.

Geringer Capital Chairman and CEO Robert Geringer said the cost of the Health Village could be in the hundreds of millions, but was unable to provide further specifics as the project is still in the planning stages. Geringer hopes to submit a site plan to the city of Rio Rancho in the next four months, said Bob Feinberg, one of the Realtors with Colliers International who is representing Geringer on the project.

While the development would be geared mostly toward health-focused tenants, about 15 to 20 percent of it would be for retail, Feinberg said.

"We believe the epicenter of this is feeding the needs of Presbyterian Rust," said Paul Rogers, senior vice president of Colliers International's health services group.

While the city of Rio Rancho has held a handful of forums concerning the project, Hull said it is still conceptual.

Merging medical and retail space has become a rising trend in commercial real estate, with at least one local provider jumping on the bandwagon.

In June 2019, New Mexico Orthopaedics signed a 10-year, 68,000-square-foot lease at the Winrock Town Center for its new headquarters, Business First reported. The company's relocation cost around $13 million.

Months later, Albuquerque medical lab services company TriCore Reference Laboratories also signed a lease at Winrock.


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Bob Feinberg

Senior Vice President & Principal | Albuquerque

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Bob Feinberg Senior Vice President/Principal Colliers International Albuquerque, NM Building on his 30 years of commercial real estate experience, Bob Feinberg has earned an impressive portfolio of successful national and multi-market retail real estate transactions. His expertise in national retail representation is a key force behind many of Albuquerque and New Mexico’s retail placements.

Over the last few years Bob has been connecting the retail dots with the industrial business. Understanding and grasping the "bones" of logistics and mending that knowledge with his experience in retail has opened up even a wider-world of real estate expertise.

Bob’s early successes include the representations for the first three Albuquerque Walmart Supercenters which were anchors for his successful leasing efforts of Towne Park Plaza a 50-acre Power Center, Sycamore Plaza a 26-acre neighborhood center, and a 14-acre Walmart Supercenter which was formerly a renowned New Mexico Chevrolet dealership. Concurrent to these benchmark shopping centers, Bob brought Home Depot and Lowe’s Home Improvement Centers to New Mexico. Additionally, Bob maintains a wide tenant representation list including Dick’s Sporting Goods, Dave & Buster’s, DSW, Staples, CVS, Guitar Center, Albertsons, Harbor Freight Tools, Burlington, Chick-Fil-A, Panera Bread, Uncle Julio’s, Chuze Fitness and many more. Bob brings his extensive retail industry experience and passion to every transaction. No matter how demanding the situation, He succeeds in producing successful outcomes for his clients. By using his extensive experience and wide network of contacts, Bob creates and delivers innovative solutions. His dedication to building strong relationships is evident to his clients, both landlords and tenants. Bob works to ensure the right fit by identifying qualified tenants, the right terms with his market insights and the best possible outcome for all parties. Every time.

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Tom Jones

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With over 19 years of commercial real estate experience, Tom focuses on statewide and national retail brokerage, as well as multi-market national retailer representation. He and his team are proud to build their core business strength on developing and  maintaining solid, long-lasting client relationships. Tom provides extensive industry knowledge and keen insights to his clients and meticulously executes every aspect of the transaction. He offers expertise in marketing consultation, market evaluation, comparative analysis and negotiations. Additionally Tom’s extensive experience in sales of shopping centers and NNN investments include recent transactions with Starbuck's, Chick Fil A, Planet Fitness, Freddie’s Frozen Custard, Jack in the Box, Walgreens, Advanced Auto Parts and more.

Tom is a dedicated representative to both commercial landlords and retail tenants. For the property owner, Tom is relentless in identifying qualified tenants and works closely with his landlords in all aspects of the lease transaction. In tenant site selections, Tom is thorough, analytical and responsive to client needs. Additionally he provides business expertise and market insight to investors and developers looking to acquire or divest of real estate assets. Tom maintains a wide tenant representation list including Dick’s Sporting Goods, Dave & Buster’s, DSW, Staples, CVS, Guitar Center, Toys R Us, Forever 21, Albertsons, Harbor Freight Tools, Burlington, Chick-Fil-A, Panda Express, Panera Bread, Uncle Julio's, Chuze Fitness and many more.

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The Villages at Rio Rancho