CTO Realty Growth achieves full occupancy at Albuquerque office building

CTO Realty Growth, Inc. (NYSE: CTO) announced that its 212,000-square-foot office building in Albuquerque, New Mexico has reached 100% occupancy with two tenants, according to a company statement.

The State of New Mexico expanded its lease from 44,000 square feet to 98,000 square feet under a 10-year agreement with two five-year renewal options. The state originally signed its lease in June. Fidelity reduced its space from the entire building to 114,000 square feet, with its lease running through November 2028 and including two five-year options.

The State of New Mexico's rent is expected to begin in mid-2026. The property's blended annualized base rent will increase by approximately 9% when rent commences, the company stated.

"We are pleased that the Albuquerque building is now leased to two high-quality tenants at a longer weighted-average remaining lease term," said John P. Albright, President and Chief Executive Officer of CTO Realty Growth.

CTO Realty Growth describes the Albuquerque property as its last non-core office building. The company operates open-air retail centers primarily in Southeast and Southwest markets. CTO also manages and owns an interest in Alpine Income Property Trust, Inc. (NYSE: PINE).

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