Figure

Albuquerque Retail MarketView H2 2021

March 18, 2022

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  • Total retail market vacancy decreased by 50 basis points from H1 2021 and 90 basis points from H2 2020 to 9.2%.
  • Total net absorption was 88,784 sq. ft. in H2 2021 with a year-end total of 169,328 sq. ft.
  • The median asking lease rate saw a slight increase from H1 2021 from $13.98/NNN/year, to $14.00 per sq. ft./year.
  • Overall, year-over-year, job growth was 6.6%, and retail related employment increased by 11.1%.