Albuquerque, February 18, 2020 – Far North Shopping Center, which was acquired by Argonaut Investments out of San Francisco in 2018, has just completed a multimillion-dollar facelift and renovation. These updates have brought an updated finish and feel as well as improved functionality to the center.
Far North is located at 6300 San Mateo Blvd NE at the intersection of Academy Rd and San Mateo Blvd. along a dense, well established and highly successful retail corridor. The renovations to the center include new façades, stucco, paint, landscaping, signage, lighting, and parking configuration.
Customer parking was previously a challenge at the center, with many spaces located far from the storefronts. Addressing this issue and making parking more convenient for visitors and improving visibility to some of the tenant storefronts required rethinking the layout entirely. A new parking configuration was achieved by moving driveways and adding additional parking spaces directly adjacent to storefronts and visibility was improved by removing and rebuilding a tower structure along with complementary landscaping.
According to Dayna Desmond, Director of Asset Management for Argonaut, “We are excited to see our remodel complete after more than 9 months of construction. The center looks and feels fresh and we are thrilled with the reception from the surrounding community as they come visit and support the many local and national businesses at Far North. We appreciate the patience of our tenants throughout the remodel and are pleased to announce that many of them have also signed new lease extensions, including Sprouts Farmers Market, and expect they will continue to thrive at Far North into the coming years.”
As part of the project, Sprouts completed its own interior renovations. These updates included new interior finishes, flooring, shelving and equipment.
Along with the new renovations, the center has added three new tenants in the last year. These tenants include Hallmark, ABQ Studio Salons and Cloud9 iPhone & Technology Repair.
Ben Perich, Vice President at Colliers International Albuquerque-Santa Fe, represents the landlord of the property.
“Far North is an iconic and well known shopping center in the heart of the Northeast Heights and I’m extremely proud to be part of this next phase of the center and partnered with a landlord that is willing to reinvest their own capital for the success of their tenants and the experience of their customers,” said Perich.
There are still opportunities available for tenants to locate in Far North, including an endcap space with high visibility and a turn-key restaurant. And look for announcements of additional new tenants opening in 2020.