First Quarter 2015 Industrial and Office Forecast Reports

The 1st Quarter 2015 Office and Industrial Forecast Reports are available and ready for download. 

  • At first glance the office market looked like it was a flat quarter with vacancy holding steady at 20.5 percent. The encouraging aspect is how it overcame a very large amount of space that became vacant. 
  • After a banner year in 2014 the industrial market stumbled out of the gate as a handful of large available spaces vacated during the quarter. Vacancy increased slightly rising 20 basis points from the fourth quarter of 2014.
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Industrial Market Trends - 3rd Qtr 2014

Industrial Market Trends - 3rd Qtr 2014

Albuquerque Industrial Market Update

Compared to the previous quarter’s stellar success the third quarter managed to post more modest results. Several large moves carried the quarter and prevented it up from being flat. Vacancy dropped 70 basis points. The biggest move was done by Southern Wine & Spirits who occupied nearly 188,000 square feet of warehouse and distribution space in the North Valley. This was an expansion that more than doubled the amount of space they were leasing Downtown. 

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Industrial Trends Report - 2nd Qtr 2014

Industrial Trends Report - 2nd Qtr 2014

Albuquerque Industrial Market Update

On the surface the market appears to be doing well. During the quarter a healthy 337,000 square feet of space was absorbed. This above average level is primarily attributed to several large spaces becoming occupied. The largest was Nova Corporation leasing the former 192,000 square-foot Schott Solar plant in the Mesa Del Sol submarket for a data center.

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4th Quarter 2013 - Industrial Trends Report

The overall vacancy trend appears to be heading in the right direction. Since the beginning of 2013 vacancy has only declined by a modest 60 basis points. The majority of this can be attributed to new construction completions and several large tenants upgrading spaces. During the quarter Admiral Beverage more than doubled their space and moved into a new 219,000 refrigerated warehouse facility. Additionally, Pepsi Co. expanded their operations by almost twenty percent and moved into a 56,000 square-foot warehouse space on the West Mesa. 

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3rd Quarter 2013 - Industrial Market Trend Report

The market appears to be slowly waking up and gaining momentum across a broader range of property types.  Previously, most of the activity was focused on larger warehouse and distribution spaces over 20,000 square feet. During the quarter activity increased across most segments. Compared to the previous quarter the number of inquiries was noticeably higher for a broader range of space requirements. 

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