Real Estate Expert Tai Bixby Shares Success Stories: Navigating New Mexico's Property Landscape

A Director at Real Estate Advisors, LLC (REA) Tai Bixby stands at the forefront of New Mexico’s commercial real estate industry, providing top-notch brokerage and advisory services. Since he ventured into the field in 2004 and attained the Certified Commercial Investment Member (CCIM) designation in 2012, he has contributed to the growth of commercial and residential real estate in Santa Fe, Albuquerque, and Northern New Mexico markets. 

Bixby leverages his vast knowledge, extensive network, and keen market insights to help his clients achieve their real estate goals. His services include real estate brokerage, office/industrial/retail sales and leasing, land sales, 1031 tax deferred exchanges, and financial/market/leasing analysis. He further stands out for having a multifaceted background in industrial design, project management, CAD drafting, and land use modeling.

Image Credit: Real Estate Advisors, LLC

“My team and I specialize in conducting thorough market research. We focus on industrial and office markets, as well as apartments in Santa Fe. We guide our clients in making informed decisions regarding real estate investments by helping them avoid risks. We also facilitate principled negotiations during real estate transactions. A principled negotiation is one in which we have a clear understanding of the value of the asset, its income-generating potential, and the cost of money,” Bixby states.

It’s this diverse skill set and unique approach that enabled the real estate expert to achieve remarkable success in facilitating transactions at 500 Market Street. The property is a mixed-use center with several condominiums on top of the city of Santa Fe’s underground parking garage. An investor purchased it as a distressed asset in 2018, aiming to revitalize it and capitalize on its potential following a period of vacancy after the 2008 recession. 

The investor had to diligently exert effort to fill vacancies and secure leases with multiple tenants, including traditional and non-traditional biotech occupants. The outcome of these efforts is a 10-year lease extension with the project’s anchor tenant, translating to enhanced value appreciation for the property. 

To meet the investor’s target pricing of $17.5 million at an 8% capitalization rate, Bixby and his team initiated a marketing campaign in September 2021. Despite the challenges of COVID-19, they utilized traditional and digital marketing channels, such as online commercial real estate platforms, targeted email campaigns, and outreach initiatives to maximize the property’s exposure in the market. The breakthrough came when Bixby met a broker at a CCIM deal-making session looking for a property to exchange, leading to a quick agreement to buy the property. 

Thanks to Bixby and his team’s efforts, the property sold for almost the asking price, and the sale went smoothly within 90 days. The property has a complicated structure, making it even more challenging to sell. However, Bixby’s hands-on and detail-oriented marketing approach ensured a smooth transition for both the seller and the buyer.

Another success story demonstrating Bixby’s expertise involved the sale of a mixed-use property at 125 Lincoln Avenue/150 Washington Avenue in Santa Fe. In 2021, a publicly traded real estate investment trust utilized a 1031 Tax Exchange to acquire a 134,000-square-foot, Class A mixed-use building. The problem with this property was that only about 63% of the building was being used, and some important tenants were close to leaving. 

Bixby spearheaded the initiative to start a leasing and renewal campaign to revitalize the property. The goal was to retain existing tenants facing lease expiration and attract new tenants to elevate the property’s prestige and potential for revenue. All efforts paid off, as current tenants opted to renew their leases, and seven new tenants joined including several Fortune 100 companies. 

The client praises Bixby and the REA team (including Tom Jenkins and Jacob Rocker) for their foresight and emphasis on collaboration. He states, “Their proactive efforts in securing high-profile tenants, alongside respected local businesses, dramatically boosted our occupancy rates and rental income. This success story underscores the value of partnering with REA, whose team’s collaborative spirit, extensive network, and negotiation prowess are unmatched in New Mexico’s commercial real estate landscape.”

Ultimately, Tai Bixby has been pivotal in facilitating successful deals, such as the revitalization of Market Station and the strategic leasing campaign for 125 Lincoln Avenue/150 Washington Avenue. Sharing insights on how to successfully invest in real estate markets, he says, “Numbers are the language of real estate. By understanding the statistics in any given market, it’s possible to make wise investments. The advice that I give my clients is if you want to make a successful investment, make sure that you only invest in markets that you understand. It’s not about throwing the dice and hoping to win. It’s much more about principled investment based on a clear understanding of risk and reward.”

This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice. Benzinga does not make any recommendation to buy or sell any security or any representation about the financial condition of any company.