Lowe

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When Armstrong closed on the property ina $15.3 milliohn acquisition last October, groundbreakingt was expected to occur in January. The sluggish retailp economy delayedthat start. Jack Dettweiler, Grubbb & Ellis New Mexico, brokered the land transaction on behalgf of theUnser family, which ownecd 36 acres of the 50-acre property on the southwest corner of Unset SW and Central Avenue. Paul Blanchardx owned the balance of the acreage that was sold to but retained four acres where he planned to develop ahealth club. The project includes a Home Improvement which will builda 150,000-square-foot store.
Rhodse Island-based CVS/Pharmacy is building one of itsfirsy out-of-the-ground drugstores in the city there. CVS is planning otherd sites in the cityas well, but most will occup y existing buildings. Bob Feinberg and Tom Jones ofGrubb & Ellis NM representg Armstrong, Lowe’s and CVS.