February 25, 2016
According to CBRE’s Albuquerque, NM MarketView report, retail was a very active real estate sector last year. Community center space was the largest pull for retailers. Though the market did register a negative net absorption of 65,828 square feet in 4Q15, deliveries were up, with much of the space preleased and occupied upon completion.
The negative net absorption was attributed to the many Halloween stores that closed in early November.
Retail occupancy was reportedly up by 41 basis points quarter over quarter, with much of the activity taking place among community centers. Seven of the 10 largest lease transactions in 4Q involved community centers.