Q4 2020 Retail Market Report
As 2020 falls into the rearview, we can dive into the numbers of the retail market during the last four quarters and see how Albuquerque has handled the pandemic.
No one was able to foresee what would happen to the real estate market nationally or locally. Retail real estate was hit the hardest with most New Mexico businesses forced to close completely for a period of time or significantly reduce capacity. The industries most affected in New Mexico have been entertainment, sit-down restaurants, and tourism/hospitality.
This trend is seen across the United States. The categories least affected by the pandemic include grocers, hardware stores, and other essential needs retailers. Many drive-thru restaurants saw sales increase by pulling business from sit-down concepts.
To view the full Q4 2020 Retail Market Review, click here
The Retail Team Q4 market research and data is compiled by NAI Maestas & Ward commercial real estate retail specialist, John Algermissen. John specializes in the retail asset class, representing some of the most notable shopping centers across Albuquerque, assisting leasing efforts to stabilize or maintain stability with assets, and consulting with investors on healthy tenant mixes.