ALBUQUERQUE, N.M. — Peterson Properties is planning an expansion of its Los Ranchos Villa shopping center in the North Valley.
The company is looking to build a 9,000-square-foot complex with retail and restaurant spaces called the Shops@Los Ranchos within the year.
The new commercial development is slated for a now-vacant lot at Osuna Road and Fourth Street, across the street from its main shopping complex, according to information posted on Peterson’s website and another commercial property leasing site.
The listing shows six shopping suites available for lease at 1,500 square feet each at the building and 48 parking spaces.
Calls to Peterson about construction costs and the targeted tenant mix were not returned by deadline.
The shopping center in the village of Los Ranchos was built in 1968 and was originally called Northdale Shopping Center.
Peterson bought the complex in 2004 and completely remodeled it.