Sun’s out, construction hats out.
The summer is scheduled to bring new retail and office projects to the Albuquerque market, from new-to-market Florida-based burger joint Burger 21 heading to Corner @ Winrock to R Tacos opening at Coronado Center. And if you need a place to work off all those calories, New York City-based Crunch Fitness is opening its first gym in the Duke City at the Manzano Shopping Center.
New entries to Albuquerque mean new construction, jobs and investments. More franchises also now have Albuquerque in their sights. And franchises are big business. In the case of Burger 21, franchisees can expect one restaurant to cost from $428,247 to more than $1 million, and the initial franchise fee is $40,000. New retail also means filling vacant retail space with newcomers, such as Crunch Fitness, which is taking over a space formerly occupied by Hastings.
There are just a sample of the new retail and office projects opening this summer. As the mercury rises, Business First will continue to monitor the commercial real estate scene. We’ll add new projects to our Construction Watch, our interactive map that pinpoints major local development. There you’ll find details on location, cost, major players, expected completion date and much more.