ALBUQUERQUE METRO RETAIL OUTLOOK Meet the Team NAI MAESTAS & WARD RETAIL SPECIALISTS The information contained herein was obtained from sources deemed to be reliable. We have no reason to doubt the accuracy of information, however, we cannot, and do not, make any guarantees. The information and perspectives contained herein is not a substitute for a thorough due diligence investigation. Largest Submarket Rio Rancho Population:141,336 4,428.97 SF $16.18 PSF Q4 Fast Facts NAI MAESTAS & WARD RETAIL SNAPSHOT Average Rates/Size Smallest Submarket Uptown Population: 5,821 4,346.21 SF $15.35 PSF Average Rates/Size Highest Rates Submarket Cottonwood Population: 8,335 7,290.80 SF $20.89 PSF Average Rates/Size Lowest Rates Submarket NE Heights Population: 81,734 4,487.83 SF $13.34 PSF Average Rates/Size 938,434 Metro Area Population 363,740 Metro Households $71,777 Avg. Household Income $42,855 Median Disposable Income 31,383 Total Businesses 399,400 Total Employees Summary Albuquerque retail markets improved in 2019. Net absorption was up despite store closures around town. Median asking lease rates remained around $14/SF while community centers are the only property type to record a higher lease rate. Activity in the Albuquerque MSA continues to grow with the most active sectors being the experiential retailers, which include fitness, food and entertainment users. The most exciting examples are the Top Golf breaking ground on their only New Mexico location in February along Interstate 25 and Montano Blvd. The booming Westside was excited to announce Chuze Fitness, Defined Fitness and another Planet Fitness in it’s boundaries. Current retailers are making strides to draw the consumers needing experience based retail. Another retail project in the works is Nuevo Atrisco, a Westside mixed-use project city and county officials say is needed in the area, broke ground on Central Avenue and Unser Boulevard in April. The project is developed by Maestas Development Group. Substantial changes are underway in the restaurant industry. Third-party delivery services are profoundly changing consumption patterns and also impacting a restaurant’s geographic reach. How should restaurant operators adjust their site selection criteria in the era of third-party delivery services? Call us to discuss! Economic Climate Brett Hills, Partner [email protected]505 998 1648 Keith Meyer,CCIM,SIOR, Partner [email protected]505878 0009 Randall Parish, Advisor [email protected]505 338 4110 Chris Anderson, Senior Director [email protected]505 998 5739 Isaac Romero, Advisor [email protected]505 998 1571 John Algermissen, Advisor [email protected]505 998 5734 Our service offerings include: • Tenant representation • Landlord representation • Portfolio evaluation • Market analysis • Due diligence consulting • Site selection • Excess property disposition • Lease versus own analysis • Economic incentives analysis and negotiations • Financing • Sale/leaseback transactions • Relocation and move management • Lease audit and administration
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ALBUQUERQUE METRO
RETAIL OUTLOOK
Meet the TeamNAI MAESTAS & WARD RETAIL SPECIALISTS
The information contained herein was obtained from sources deemed to be reliable. We have no reason to doubt the accuracy of information, however, we cannot, and do not, make any guarantees. The information and perspectives contained herein is not a substitute for a thorough due diligence investigation.
The 5th most cost-friendlycities to do business inthe U.S. – KPMG
Lowest Rates Submarket NE HeightsPopulation: 81,734
4,487.83 SF $13.34 PSF Average Rates/Size
938,434 Metro Area Population
363,740 Metro Households
$71,777 Avg. Household Income
$42,855 Median Disposable Income
31,383 Total Businesses
399,400 Total Employees
SummaryAlbuquerque retail markets improved in 2019. Net absorption was up despite store closures around town. Median asking lease rates remained around $14/SF while community centers are the only property type to record a higher lease rate. Activity in the Albuquerque MSA continues to grow with the most active sectors being the experiential retailers, which include fitness, food and entertainment users. The most exciting examples are the Top Golf breaking ground on their only New Mexico location in February along Interstate 25 and Montano Blvd.
The booming Westside was excited to announce Chuze Fitness, Defined Fitness and another Planet Fitness in it’s boundaries. Current retailers are making strides to draw the consumers needing experience based retail. Another retail project in the works is Nuevo Atrisco, a Westside mixed-use project city and county officials say is needed in the area, broke ground on Central Avenue and Unser Boulevard in April. The project is developed by Maestas Development Group.
Substantial changes are underway in the restaurant industry. Third-party delivery services are profoundly changing consumption patterns and also impacting a restaurant’s geographic reach. How should restaurant operators adjust their site selection criteria in the era of third-party delivery
The information contained herein was obtained from sources deemed to be reliable. We have no reason to doubt the accuracy of information, however, we cannot, and do not, make any guarantees. The information and perspectives contained herein is not a substitute for a thorough due diligence investigation.
6801 Jefferson NE | Suite 200 | Albuquerque, NM 87109 www.gotspaceusa.com 505.878.0001
The 5th most cost-friendlycities to do business inthe U.S. – KPMG
Submarket SummaryAlbuquerque retail markets improved in 2019. Net absorption was up despite store closures around town. Median asking lease rates remained around $14/SF while community centers are the only property type to record a higher lease rate. Activity in the Albuquerque MSA continues to grow with the most active sectors being the experiential retailers, which include fitness, food and entertainment users. The most exciting examples are the Top Golf breaking ground on their only New Mexico location in February along Interstate 25 and Montano Blvd.
The booming Westside was excited to announce Chuze Fitness, Defined Fitness and another Planet Fitness in it’s boundaries. Current retailers are making strides to draw the consumers needing experience based retail. Another retail project in the works is Nuevo Atrisco, a Westside mixed-use project city and county officials say is needed in the area, broke ground on Central Avenue and Unser Boulevard in April. The project is developed by Maestas Development Group.
Substantial changes are underway in the restaurant industry. Third-party delivery services are profoundly changing consumption patterns and also impacting a restaurant’s geographic reach. How should restaurant operators adjust their site selection criteria in the era of third-party delivery services? Call us to discuss!
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FAR NORTHEAST HEIGHTS
RIO RANCHO
COTTONWOOD
WEST MESA
SOUTHWEST MESA
NORTHEAST HEIGHTS
SOUTHEAST HEIGHTS
UPTOWN
UNIVERSITY
NORTH VALLEY
NORTH I-25
DOWNTOWN
Average Asking Lease Rate: $15.80Average Available Retail: 5,165.49 SFRetail SF Per Shopper: 30 SF
Average Asking Lease Rate: $16.18Average Available Retail: 4,428.97 SFRetail SF Per Shopper: 17 SF Average Asking Lease Rate:
$20.89Average Available Retail: 7,290.80 SFRetail SF Per Shopper: 200 SF
Average Asking Lease Rate: $16.92Average Available Retail Size: 3,012.94 SFRetail SF Per Shopper: 17 SF
Average Asking Lease Rate: $13.64Average Retail Size: 6,067.19 SFRetail SF Per Shopper: 9 SF
Average Asking Lease Rate: $13.34Average Available Retail: 4,847.831 SFRetail SF Per Shopper: 49 SF
Average Asking Lease Rate: $14.45Average Available Retail: 7,192.68 SFRetail SF Per Shopper: 30 SF
Average Asking Lease Rate: $15.35Average Available Retail: 4,346.21 SFRetail SF Per Shopper: 638 SF
Average Asking Lease Rate: $14.19Average Available Retail: 3,501.53 SFRetail SF Per Shopper: 21 SF
Average Asking Lease Rate: $17.68Average Available Retail: 5,053.84 SFRetail SF Per Shopper: 17 SF
Average Asking Lease Rate: $14.87Average Available Retail: 7,145.99 SFRetail SF Per Shopper: 133 SF
Average Asking Lease Rate: $16.32Average Retail Size: 2,620.22 SFRetail SF Per Shopper: 23 SF
AlbuquerqueSUBMARKETS
6801 Jefferson St. NE | Suite 200 | Albuquerque NM 87109 | 505 878 0001 | www.gotspaceusa.com
Esri Demographics 2018
Economic Climate938,434 Metro Area Population
363,740 Metro Households
$71,777 Avg. Household Income
$42,855 Median Disposable Income
31,383 Total Businesses
399,400 Total Employees
The 5th most cost-friendly cities to do business in the U.S.– KPMG
Ranked 6th in America’s favorite cities list– Travel + Leisure
Ranked 9th mid-sizedAmerican city of the future– Foreign Direct Investment
Ranked 6th best place for business & careers– Forbes
Ranks among America’s best cities for Trade– Global Trade Magazine
Submarket Snapshot
6801 Jefferson NE | Suite 200 | Albuquerque, NM 87109 www.gotspaceusa.com 505.878.0001
ALBUQUERQUE METRO
RETAIL OUTLOOK
Meet the TeamNAI MAESTAS & WARD RETAIL SPECIALISTS
The information contained herein was obtained from sources deemed to be reliable. We have no reason to doubt the accuracy of information, however, we cannot, and do not, make any guarantees. The information and perspectives contained herein is not a substitute for a thorough due diligence investigation.
The 5th most cost-friendlycities to do business inthe U.S. – KPMG
Lowest Rates Submarket NE HeightsPopulation: 81,734
4,487.83 SF $13.34 PSF Average Rates/Size
938,434 Metro Area Population
363,740 Metro Households
$71,777 Avg. Household Income
$42,855 Median Disposable Income
31,383 Total Businesses
399,400 Total Employees
SummaryAlbuquerque retail markets improved in 2019. Net absorption was up despite store closures around town. Median asking lease rates remained around $14/SF while community centers are the only property type to record a higher lease rate. Activity in the Albuquerque MSA continues to grow with the most active sectors being the experiential retailers, which include fitness, food and entertainment users. The most exciting examples are the Top Golf breaking ground on their only New Mexico location in February along Interstate 25 and Montano Blvd.
The booming Westisde was excited to announce Chuze Fitness, Defined Fitness and another Planet Fitness in it’s boundaries. Current retailers are making strides to draw the consumers needing experience based retail. Another retail project in the works is Nuevo Atrisco, a Westside mixed-use project city and county officials say is needed in the area, broke ground on Central Avenue and Unser Boulevard in April. The project is developed by Maestas Development Group.
Substantial changes are underway in the restaurant industry. Third-party delivery services are profoundly changing consumption patterns and also impacting a restaurant’s geographic reach. How should restaurant operators adjust their site selection criteria in the era of third-party delivery
