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SIERRA COUNTY ECONOMY CONTINUES EXPANSION WITH THE Lakeway Shopping Center
- Nov 4, 2025
- 4 min read
LONG-TERM COMMITMENTS FROM U.S. FOREST SERVICE, INTERNATIONAL WORKPLACE GROUP’S REGUS, AND NATIONAL MEDIA ATTENTION
TRUTH OR CONSEQUENCES, N.M. (October 27, 2025)
Sierra County’s economy continues to gain strength as new investment, long-term business commitments, and
national media attention fuel steady growth across the region.
At Lakeway Shopping Center, Regus, part of International Workplace Group (IWG), the
world’s largest provider of flexible workspaces, has signed a 10-year lease for about
8,500 square feet. The new Regus facility is scheduled to open in Truth or
Consequences in November 2025, offering private offices, meeting rooms, coworking
areas and creative spaces for businesses and individuals. The center will serve
established firms and startups across New Mexico’s key industries, including
technology, advanced manufacturing and logistics. Economic projections prepared by
PreReal Investments, based on regional spending benchmarks, standard tenant
improvement costs, and current municipal tax rates, indicate that the lease could
generate up to $240,000 in new annual customer spending, a one-time construction
investment of roughly $600,000, and nearly $20,000 per year in gross receipts tax
revenue for the City of Truth or Consequences.
The U.S. Forest Service has also renewed its lease at Lakeway Shopping Center for
another 15 years. Its Black Range Ranger District Office will continue to occupy about
8,000 square feet, maintaining a long-term federal presence that supports local jobs,
payroll and public services. Local payroll and community spending tied to the office are
estimated at about $500,000 a year, based on standard federal pay scales and regional
economic multipliers.
Together, the two leases reinforce Lakeway Shopping Center’s position as a catalyst for
community and regional development. Encompassing 77,616 square feet, Lakeway
Shopping Center has quickly established itself as a key destination for local residents
and visitors, offering a mix of government services, financial institutions, retail, and
dining. Current tenants include the U.S. Forest Service, Metro by T-Mobile, Regus,
Sierra County Economy Continues Expansion with Long-Term Commitments
from U.S. Forest Service, Regus, and National Media Attention
Subway, World Finance, White Sands Federal Credit Union, Organtica, and Truth
Smoke Shop & Vape.
The property was purchased in 2018 by PreReal Investments, led by Chief Executive
James Prendamano and partner investor David Berman. Since acquisition, the firm has
invested millions of dollars in renovations, with additional improvements and new
tenants planned as part of an ongoing revitalization strategy.
“Lakeway Shopping Center reflects the momentum building across Sierra County,” said
Prendamano. “By securing a long-term federal presence and attracting an international
brand like Regus, we’re laying the groundwork for sustainable economic growth that
benefits residents, businesses, and the broader community.”
“We are establishing a stronger and much-needed footprint in Truth or Consequences
with this latest opening. New Mexico is a fantastic place for us to boost our expansion
plans as the need for high-quality flexible workspaces continues to soar, as hybrid
working becomes the new normal,” said Mark Dixon, CEO & Founder of International
Workplace Group PLC. “This new opening comes at a time when more and more
companies are discovering that flexible and platform working is incredibly popular with
employees, improving their work-life balance and satisfaction, while also providing a
multitude of benefits to companies. Our workplace model is proven to increase
productivity and allows for a business to scale up or down at significantly reduced costs
while providing access to thousands of locations.”
Local officials underscored the region’s ongoing progress. “In Truth or Consequences
and across Sierra County, we’re seeing real growth and opportunity take root,” said New
Mexico Economic Development Secretary Rob Black. “With new businesses, the U.S.
Forest Service’s long-term commitment, and the New Mexico Open drawing national
attention, these efforts are creating jobs and supporting a stronger community.”
These announcements come as Sierra County continues to build on the success of its
“Big 6” economic drivers: Spaceport America, Ted Turner Reserves, Elephant Butte
Lake & Marina, copper mine development, the Truth or Consequences Hot Springs, and
Turtleback Mountain Golf & Resort.
The area received national attention in September when Turtleback Mountain Golf & Resort hosted the 2025 New Mexico Open, generating an estimated 11-million media
impressions from the first-ever Facebook Live broadcast of a PGA of America sectional
championship and other media coverage. According to several online sources, including
TVEyes Inc., Meta Platforms analytics, KTSM-TV and others, the event received
extensive coverage across more than 100-television, radio, print and online outlets,
highlighting the tournament, the resort, and Sierra County’s emergence as one of the
Southwest’s most exciting lifestyle destinations.
About International Workplace Group PLC
Sierra County Economy Continues Expansion with Long-Term Commitments
from U.S. Forest Service, Regus, and National Media Attention
International Workplace Group (IWG) is the world’s leading provider of flexible
workspaces, enabling companies of all sizes to operate more productively and
profitably. The company creates personal, financial and strategic value for many of the
world’s most recognized organizations, as well as entrepreneurs and the next
generation of business leaders. IWG’s network includes more than 4,000 locations
across 120 countries, serving 83 percent of Fortune 500 companies. Its portfolio of
brands, including Regus, Spaces, HQ and Signature, serves millions of people
worldwide by providing professional, inspiring and collaborative workspaces. All digital
services are available through the IWG app.
For more information, visit www.iwgplc.com.
About the Black Range Ranger District
The Black Range Ranger District, part of the Gila National Forest, manages about
557,000 acres of forest and grassland in southwestern New Mexico. Headquartered in
Truth or Consequences, the district oversees land and resource management,
recreational facilities and wilderness access, including portions of the Aldo Leopold
Wilderness. Its responsibilities include protecting wildlife and habitat, conducting wildfire
suppression and prescribed burns, reducing fuels, and issuing permits for grazing,
timber harvesting, mining exploration, outfitting, guiding and special events. The district
also maintains campgrounds, picnic areas and trailheads along New Mexico Highway
152, including Upper Gallinas and Iron Creek.
About PreReal Investments
PreReal Investments is a real estate investment and development firm that acquires,
repositions and manages commercial, retail, mixed-use, and residential properties. The
company focuses on market insight, capital deployment and asset management to
deliver long-term value and community impact. Led by principals James Prendamano
and David Berman, PreReal Investments has invested more than $55 million in property
acquisitions, renovations and business development across Sierra County, New Mexico.
Media Contact:
Patrick Pharris PreReal Investments, Inc.
(702) 491-7464
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