ABQ’s office real estate market sees slow, steady recovery

 ABQ’s office real estate market sees slow, steady recovery

Nov. 7—Remember last year when articles about the “death of the office” amid a work-from-home revolution were a dime a dozen? Turns out, a lot really can change in a year.

Colliers International released its third-quarter report for Albuquerque’s office market last week, which showed that lease rates in our fair city are comparable to where they were before the pandemic reached New Mexico. And the citywide vacancy rate dropped to its lowest point since 2009.

“I have a level of optimism that I didn’t imagine a year ago that I would have now,” said Scott Whitefield, partner and managing director of Colliers’ Albuquerque office.

The office market isn’t all sunshine and roses, but Whitefield said it has been a slow, steady recovery fueled by old buildings getting new life, new companies coming to town and an appreciation for returning to an office environment.

“It has been an absolute marathon to get the vacancy rate back to where it is…

Read full article…news.yahoo.com