Q1 2020 Land & Industrial Market Report
Quarterly Reports
Summary
2020 has picked up right where 2019 left off. Vacancy remains stable, hovering between 2.5% and 3.0% while lease rates continue a slow, steady ascent. Multiple new construction projects are in the works at 7901 Las Lomitas, 7410 Washington, and 3301 Candelaria to go with the recently completed office/ warehouse building at 4455 Anaheim. Though a small sample size, these represent a significant shift in the Albuquerque industrial real estate market which has lived solely off of existing product since the recession. Coronavirus (COVID-19) is expected to negatively impact the market in the coming quarter but solid fundamentals prior to its arrival indicate that a healthy recovery is likely once the immediate crisis passes. Industrial real estate continues to be a strong asset class.
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