Land is in Demand
Industry News | Land & Industrial
By Alex Pulliam, NAI Maestas & Ward Land and Industrial Advisor
Over this past year we have witnessed the constant need for quality industrial buildings and land. Many industrial users had steady workloads prior to the Pandemic, and their workloads seemed to only increase with the Pandemic because most were able to operate as “essential businesses” with few restrictions. Despite some uncertainty about future workloads, many industrial buyers have continued show optimism leading those firms to expand their operations. This expansion is needed due to the increased need for more employees or fabrication/storage.
With the lack of available inventory, buyers have found themselves facing a difficult question- Do they renovate an existing building or construct a building to suit long term needs?
We are seeing examples of both options in the market but have paid special attention to impact on vacant land. Industrial land around 2 acres that has sat vacant for years has been recently absorbed by users with intentions to build. Late last year, our team represented two related transactions in the Las Lomitas Business Park (El Pueblo & Las Lomitas) which contributed to absorption of all available lots. Additionally, two lots near the Unser/Ladera Industrial Park were brought to the market and received offers within days. Our team tracked many other land listings around the Albuquerque MSA and have witnessed that many of the industrial lots have been purchased or are pending, leaving few land option on the market.
This trend demonstrates that well located industrially zoned land around 2 acres is generating quite a bit of interest by industrial buyers after they have exhausted their search efforts for an existing building. Land is a great path forward for users to have exactly what they need to support their businesses.
In addition to Alex's industrial insights, she is known for problem-solving with the right people to get the job done. She is committed to her goal of meeting deadlines and prioritizing her daily activities to exceed her client’s expectations.
For more information on other industrial property opportunities, contact Alex Pulliam.