Rise of the West Side retail
Industry News | Local News | Retail
By Steven Hamway, Albuquerque Journal Writer | June 10th, 2019
Parts of the western side of Rio Grande have long been second-best when it comes to retail in Albuquerque, with fewer unique dining and shopping options than established nodes like Old Town and UptownHowever, retail observers say they’ve seen restaurants new to the market and those looking to expand their Albuquerque recently start flocking to the West Side. “It’s the fastest-growing segment in the city,” said Genieve Posen, marketing director for NAI Maestas & Ward. “It’s one of the most underserved in terms of retail and restaurants.” Posen noted that the western portion of the metro area, anchored by Rio Rancho, is growing quickly, but many residents still commute into Albuquerque. Because of that, she said retail corridors on the west side, particularly the northwest, are well-positioned to get people to stop closer to home during their commutes While Cottonwood Mall and the shops near Coors NW and Interstate 40 have attracted plenty of development, Posen said retail and restaurant development between those nodes has been relatively rare. Still, with the city’s growth to the east confined by the Sandia Mountains, Posen said the West Side is the logical spot for growing retailers to target as the city expands, and several recent openings and announcements support that assertion. “Every new development over there is a step in the right direction,” she said.
NAI Maestas & Ward Commercial Real Estate completed 443 commercial transactions in 2018 for a total commercial transactions value of $263.04 million.