Albuquerque’s retail appetite drives more shopping center construction

By Stephanie Guzman, Reporter for Albuquerque Business First:

Construction of new anchor stores and shopping centers isn't slowing down in the Albuquerque metro area, thanks to more demand from shoppers and national retailers alike.

CBRE Albuquerque released its Q3 retail report, which focuses on all of the new retail construction going on in the market.

The report said Rio Rancho saw the most activity, with 106,000 square feet of new retail space delivered through the completion of Plaza at Enchanted Hills. The shopping center opened with three anchor spaces for major retailers including T.J. Maxx, Michaels and Bed Bath & Beyond. The report said it's the largest new shopping center constructed since ABQ Uptown in Albuquerque.

There's also several retail projects still under construction, including the revamp of Winrock Town Center and Downtown's Imperial Building.

The second phase of Plaza at Enchanted Hills will add an additional 71,000 square feet of retail space to the shopping center. And Las Estancias in the South Valley is expected to build 70,000 square feet of retail space for national tenants. Click here to read the full article.