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Q1 2021 Albuquerque Retail market report

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An abundance of retail activity in 2021’s first quarter

The first quarter of 2021 has shown that the retail market isn’t down for the count yet, with an abundance of activity, announcements, and an overall positive absorption of 52,350 SF. The vacancy rate dropped to 6.61%, and asking rates averaged at $17.85 NNN, down from $19.30 NNN at the end of 2020.

Key factors this quarter

  • The vacancy rate dropped to 6.61%, and asking rates averaged at $17.85 NNN, down from $19.30 NNN at the end of 2020.

  • Indian Pueblo Cultural Center’s Avanyu Plaza announced several tenants for their retail development.

  • The former 120,000 square foot Kmart at 2100 Carlisle Blvd. NE that has been vacant since its closure in 2018 is being developed into a new shopping center by Modulus Architects.

 


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Q1 2021 Albuquerque Retail market report

Download Report