During the Quarter

  • ​The Albuquerque retail market recorded negative net absorption of 63,413 sq. ft. in Q4 2017. This includes a total of 130,000 sq. ft. of closures by seasonal Halloween stores.
  • Activity for the quarter was weak.
  • 14,000-sq.-ft. strip center in the Cottonwood submarket was delivered with 2,500-sq.-ft. space occupied upon completion.
  • The vacancy rate inched up by 20 basis points (bps) to 12.5%.

During the Year​

  • ​The gross activity for the year was weak.
  • A total of 208,930 sq. ft. of completions was 35% lower than that of 2016.
  • The 12.5% vacancy rate was 61 bps higher than one year ago.

Looking Ahead​​

  • The outlook for 2018 is positive with healthy demand and new construction starts.