One thing Albuquerque doesn’t have is the big-city skyline that other cities like Dallas and Chicago and NYC can boast. High-rise buildings and office towers are not abundant in the Duke City. But unlike those cities, we have more room to spread out, expanding outward, not upward.
While Albuquerque may lack tall, centrally located office towers, there are many office spaces throughout the city. The SunPort Corporate Center currently has the most available space with 234,017 square feet up for grabs. Second is the Gibson Medical Center with 200,000 square feet available. The Gibson Medical Center is also the largest office space with a total square footage of 529,178, according to the Commercial Association of Realtors New Mexico.
The SunPort Corporate Center at Buena Vista Dr. SE and Randolph Road SE. Stephanie GuzmanAs of September, there is 14.2 million square feet of commercial space for sale, according to CARNM data, and 12.5 million square feet available for lease. The average lease rate for office space is $14.60 per square foot and CARNM currently lists 1,274 available office spaces.
The average lease rate for industrial space is $6.65 per square foot with 420 available listings and the average lease rate for retail/commercial space is $18.69 with 818 available listings.
By: Juliana Vadnais (Albuquerque Business First)
Click here to view source article.
