THE OFFICIAL
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James Jaramillo
James Jaramillo, a name synonymous with success and leadership in the commercial real estate and construction sectors, is the embodiment of the three E’s: entrepreneurship, experience, and excellence. His journey into entrepreneurship began shortly after earning a BA in finance from UNLV, when he took ownership, operation, and development of four self-serve car washes and a laundromat. This early venture laid the groundwork for his future success.
His entrepreneurial spirit led him to expand his credentials, obtaining licensure as a real estate broker and general contractor. These achievements provided him with a comprehensive understanding of the intricate relationship between real estate and construction, making him perfectly suited for his dual roles with Coba Investment and General Construction.
Coba Investment Company, established in 1998 and headquartered in Albuquerque, New Mexico, is a privately held firm specializing in commercial real estate brokerage and development. The company offers a comprehensive suite of services tailored to meet the diverse needs of clients, focusing on commercial investment properties, site acquisitions, and property development. Under James’s leadership, Coba has cultivated a robust network of investors, lenders, brokers, and real estate professionals, positioning the company as a trusted partner for local and international clients.
Simultaneously, James oversees the operations of the Jerry Miller Group, a construction firm founded in 2014. Under his guidance, the Jerry Miller Group has emerged as a premier general contractor, specializing in residential and commercial projects ranging from warehouses to subdivisions and retail spaces. James and his team are dedicated to delivering excellence in every project they undertake, with a current focus on industrial subdivisions, warehouse projects, and property acquisitions.
We spoke with James to delve into his insights and experiences in the commercial real estate and construction industries.
James, what inspired you to start Coba Investment?
My grandfather, who was an entrepreneur/developer, initially sparked my interest in the industry. However, my time in Las Vegas during college and the mentorships and partnerships I cultivated there, played a significant role in shaping my path. Studying real estate further ignited my passion, leading me to obtain my broker’s license right after college, at around 22-23 years old. Armed with this experience, I returned to New Mexico and laid the foundation for Coba Investment.
What makes Coba Investment Company and The Jerry Miller Group unique?
Coba Investment and The Jerry Miller Group operate synergistically. Coba Investment spearheads acquisitions, while The Jerry Miller Group handles construction. This integrated approach enables us to streamline operations by eliminating the need for an external general contractor. With a diverse skill set encompassing both building and acquisition, Coba can adapt swiftly to market fluctuations, ensuring continuous progress and growth.
Our strength lies in the breadth of our relationships, both locally in New Mexico and nationally. Having been immersed in the dynamic environment of Las Vegas during my college years, the exposure to its rapid growth profoundly influenced my perspective. Bringing this insight back to New Mexico has enabled us to envision and execute diverse projects with a unique perspective. Our extensive network across the country empowers us to structure varied capital stacks, providing flexibility in project financing. As an investor-developer, we prioritize collaboration with select clients, initially rooted in Albuquerque but now expanding to cater to out-of-state and international clients, further broadening our portfolio and reach.
You’ve been a trusted leader in the commercial real estate industry and general contracting for over two decades. How does this dual perspective benefit your clients and investors?
By learning the ins and outs of construction firsthand, I recognized its critical role in real estate endeavors. I understand the importance of having control over this variable. By leveraging my expertise as a general contractor, we've been able to execute building projects at a significantly lower cost, minimizing overhead expenses. Understanding construction percentages, material costs, and labor costs has become even more crucial in navigating today's market dynamics, particularly with inflationary pressures. With this knowledge, coupled with a dedicated team and strategic partnerships, we can optimize project economics while delivering quality outcomes that yield returns for our investors.
Furthermore, wearing the hats of developer, broker, and contractor affords us the agility to pivot swiftly when needed. Whether it’s repurposing a building or expediting tenant improvements, this multifaceted approach has been instrumental in our success. It allows us to adapt to changing market conditions and ensure that our clients and investors benefit from our comprehensive understanding and proactive approach.
Currently, your primary focus is on industrial warehouse development to meet the growing demand from traditional to industrial use for these properties. Why are they so popular among these users? Can you share some of the current projects you’re working on?
Industrial warehouse development has become a focal point nationwide due to its increasing demand and limited availability. The scarcity of suitable properties, coupled with the inability of existing buildings to meet modern standards and user requirements, has fueled this trend. There is a huge demand for industrial construction because of their versatility, offering ample space for var storage, and workspace, all at a lower rental cost. Currently, we're actively involved in four industrial subdivisions and have 60,000 square feet in the pipeline. Additionally, in response to the evolving market dynamics during COVID-19, we've acquired additional industrial-zoned properties and are in the process of subdividing them. Our spec industrial projects are experiencing rapid leasing, with a mere 2% vacancy rate in Albuquerque. Collaborating with partners across several states, including Arizona, Colorado, New Mexico, and the Midwest, we continuously seek strategic alliances that enhance the value we bring to the table.
James Jaramillo
President and Owner: Coba Investment Company
Managing Partner/General Contractor: Jerry Miller Group
Website: https://cobainvestmentcompany.com