Texas-based Wheelhouse Commercial Development is set to build a five-shop retail center in Rio Rancho after the project was greenlit by city officials July 23.
Rio Rancho’s Governing Body unanimously approved the site plan for a retail center with space for retail, office and restaurant tenants. The center will sit within the village, a 65-acre mixed-use development.
Wheelhouse Commercial Development Project Manager Garrett Haley said the approximately 12,500-square-foot retail center will be called Trebor Plaza. Haley said the project is expected to break ground by the end of 2026 and be completed in the third quarter of 2027.
A project budget was not available by press time.
The site plan includes five retail spaces. Two spaces in the center of the building are currently undergoing lease negotiations with Pacific Dental Services, which would occupy 3,590 square feet, and Great Clips, which would would lease a 1,100-square-foot-space.
On the west side of the building, a 2,655-square-foot space is available for a retail or restaurant tenant and will include a drive-thru.
Two additional retail spaces are planned on the east side of the building, one measuring about 2,500 square feet and another at 2,655 square feet with a pickup window. The spaces could be demised to accommodate tenants.
Ben Perich is the listing agent for Colliers and the property was originally listed on April 22, 2026. The lease rate is listed at $42 to $50 per square foot annually.
The spaces are offered under triple net leases, with tenants paying rent plus their share of property taxes, insurance and maintenance costs, estimated at an additional $5 per square foot.
A total of 80 planned parking spaces will be included at the project site, located at 2055 Trebor Way SE. The development is planned for the northwest corner of Rusty Way and Trebor Way in the Village at Cabezon.
The development will sit on a 1.7-acre lot next to an existing Blake’s Lotaburger restaurant and adjacent to Albertsons Market Street, a grocery store with a gas station. It is located on Unser Gateway, adjacent to Rio Rancho and Sandoval County’s largest medical facility, Presbyterian Rust Medical Center.
Planned within the Village in Rio Rancho, a 65-acre mixed-use development backed by private equity buyout firm Geringer Capital and Colliers, the project will join several existing and planned businesses in the area, including U.S. Eagle Federal Credit Union and Furniture Row.
Listing information shows that a future medical office building is in the works. Other nearby developments underway include Life.Church and Chase Bank. Plans and timelines have not yet been announced.
About 15 additional lots are available for sale, lease or build-to-suit opportunities through Colliers. The lots have been listed since June 3, 2019, with the listing represented by Bob Feinberg and Thomas Jones.
