Marcus & Millichap has been selected to exclusively market for sale the fee simple interest in the subject property located at the intersections of State Highway 45 (Coors Bypass Boulevard), State Route 528, and Coors Road in Albuquerque, New Mexico. The offering includes two buildings situated on two land parcels: a 93,222-square-foot, two-story anchor store situated on approximately 5.9 acres, and a 9,238-square-foot, single story building situated on approximately .85 acres. The anchor store is part of the 1,051,846-square-foot, super regional Cottonwood Mall, the state’s second-largest shopping center serving over 350,000 consumers annually.
The Property is a party to a Reciprocal Easement Agreement with Cottonwood Mall, a family-friendly shopping destination anchored by Dillard’s, JCPenney, Hobby Lobby, Mor Furniture, HomeLife Furniture, and Conn’s HomePlus, with more than 130 retail, dining and entertainment options. The mall also features a state-of-the-art dog park and solar powered charging stations. The center is strategically located in one of Albuquerque’s premier retail hubs in the Cottonwood submarket and is easily accessible from multiple ingress and egress points from both State Highway 45 and Coors Road. Cumulative traffic counts exceed 73,400 vehicles per day. Numerous other national and regional retailers are in the surrounding area, including The Home Depot, PetSmart, Walmart, World Market, Lowe’s Home Improvement, Costco, Sam’s Club, Kohl’s, At Home, Sprouts, and many more. Several school campuses are in close proximity, providing additional traffic to the area.
- EXTRAORDINARY REDEVELOPMENT OPPORTUNITY – Property Consists of a 93,222-SF, Two-Story Anchor Store and a 9,238-SF Out-Parcel Building Situated on a Total of 6.17 Acres
- SUPERIOR LOCATION IN ONE OF THE CITY’S PREMEIR RETAIL HUBS – Cottonwood Mall is the Second-Largest Shopping Center in the State of New Mexico – Serves 350K Consumers Annually
- STRONG ANCHOR TENANT LINEUP – The Mall Features Current Anchors Including Dillard’s, JCPenney, Conn’s HomePlus, HomeLife Furniture, Mor Furniture and Hobby Lobby
- COMPETITIVELY PRICED WELL BELOW REPLACEMENT COST – Priced at $48 per Square Foot
- HIGH TRAFFIC COUNTS – Within Preeminent Retail Corridor Inside State Highway 45 and Coors Road that Carries an Average Vehicle Count of Over 73,400 Vehicles per Day, Cumulatively
- DENSE RETAIL TRADE AREA – Numerous National and Regional Tenants in the Surrounding Area
- DESIRABLE DEMOGRAPHICS – Extremely Dense Residential Population Exceeding 586,600 People Within a 10-Mile Radius; Average Household Income is $98,209 within One Mile, $95,480 within Five Miles, and $84,063 within 10 Miles