Q2 2012 Albuquerque, New Mexico Retail Property Sales Analysis

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Q2 2012 Albuquerque, New Mexico Retail Property Sales Analysis


Minimal investment activity meeting Reis’ reporting criteria is indicated. The single, $3.0 million sale that closed during the second quarter was the first since the third quarter of 2011—when Simon Property Group paid $86.0 million ($387 psf) for the 222,000-square-foot ABQ Uptown development (referenced on other grounds in the Retail Space section). In the latest deal, PASSCO Companies paid Southern & Unser LLC $2.99 million ($328 psf) for the 9,135-square-foot Shops at Southern & Unser in Albuquerque. The sale closed in May at a 3.9% cap rate.