The Nob Hill Business Center, a fixture along Albuquerque’s Route 66 for more than 75 years, recently landed new owners.
Albuquerque-based Heritage Real Estate Co. closed on the property at 3500 Central Ave. (aka Route 66) in mid-March, reported Albuquerque Business First.
No purchase price was revealed, but the county assessor’s office valued the property at $1.84 million.
Heritage stated it would reveal more about its plans for the property later.
The center is nearly 100% occupied with more than a dozen stores, including the acclaimed Scalo restaurant.
Nob Hill Business Center, known for its distinctive architecture and rooftop neon sign, was developed in 1946-1947 by Robert Waggoman. It is considered the first shopping center in New Mexico, according to its website.
The shopping center was on the eastern edge of the city and considered a foolhardy development at the time. However, Albuquerque continued to expand outward, and it became a success.
Nob Hill Shopping Center was designated to the New Mexico State Register of Cultural Properties in 1983 and National Register of Historic Places in 1994.
(Image of the Nob Hill Business Center in Albuquerque by jnshaumeyer via Flickr)