Real Estate Advisors are the experts in the Albuquerque office market and report on the latest local real estate trends in New Mexico. In the summer of 2022, the Albuquerque office sector was holding its collective breath as hundreds of thousands of square feet of back-office space had come on the market for lease or sublease. Almost 500,000 square feet of this pending vacancy, which could have resulted in bringing the market availability rate to over 30%, was absorbed in the second half of 2022 through repurposing and acquisitions by owner/occupants. As many of these transactions were with Charter Schools and Church’s, we think it’s safe to say that the Albuquerque office market is fortunate for recent growth in education and religion.
Do you know what were the Top 5 Office Leases in Albuquerque in 2022?
|Number||Address||Tenant||Size||Listing Broker||Leasing Broker|
|1||5300 Homestead NE||NM Department of Health||60,455 sf||None|
|2||111 Lomas NW||State of NM Courts||33,802 sf||Duke City Realty||None|
|3||1401 Old Coors Rd||Rio Grand Performing Arts||21,500 sf||Charter School Property Solutions||Dove Property Advisors|
|4||4401 Masthead NE||Burns & McDowell||19,807 sf||Sycamore & Associates|
|5||10510 Research Rd||BioFlyte||15,000 sf||NAI Sunvista||Colliers|
Know of any transactions that we missed? If so, please email Tom Jenkins: firstname.lastname@example.org!