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Albuquerque, New Mexico Real Estate
New Mexico's Newest Mall
shoppers' delight
Last month I attended four new business openings at ABQ Uptown, including the ribbon cutting for the grand opening of the mall itself.
Albuquerque’s newest mall is unlike any other in the city. High-end retail shops are grouped along pedestrian-friendly streets bordered by wide sidewalks in an open-air configuration very suitable to Albuquerque’s all-year-round, sunny climate.
Gary Sapp, executive vice president of the Hunt Development Group conceived of the main-street shopping concept, and planned and completed it as an infill project between two older, traditional, covered malls anchored by department stores.
Sedberry & Associates, the leasing agent for the group, found 48 willing and able tenants who now occupy the space. Forty-three percent of these tenants are new to New Mexico, suggesting a substantial impact on retail growth for Albuquerque.
A few weeks after the opening of ABQ Uptown, I heard Gary Sapp speak at the December 7, monthly meeting of the Greater Albuquerque Chamber of Commerce http://www.AbQChamber.com. Mr. Sapp spoke of the decade-long development project, of his vision, his search for the right property, and negotiations and collaboration with the city to realize the dream.
The ABQ Uptown project has brought a measure of excitement, freshness, and revitalization to the city, as well as convenience to shoppers. As infill, it is an inspiration to addressing urban sprawl. As land in the northeast quadrant of the city becomes scarcer and more expensive, such projects will have more relevance and greater impact on the continuing development and vibrancy of the city.
Sources: http://newmexico.bizjournals.com
Eloise Gift
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