Copyright © 2013 Albuquerque Journal
A new Buybuy Baby store is due in Albuquerque this January.
And it will play house with a relocating Bed Bath & Beyond.
The sister brands will anchor a new, 75,000-square-foot retail development coming soon to the San Mateo corridor. Demolition of existing office buildings at the intersection of San Mateo and Prospect NE began this week to make way for the project.
Bed Bath & Beyond and its sister brand Buybuy Baby will share 58,000 square feet on the property owned by Chicago-based South Unser LLC.
Various food-related tenants should fill most of the remaining smaller spaces at the center – dubbed Plaza San Mateo – said Pegasus Retail President Anthony Johnson, whose company is handling the project’s leasing.
He said the mix may include a yogurt shop, sandwich shop and fast-food restaurant.
“There will be some brand names everybody knows,” he said.
Bed Bath & Beyond will leave its store at Winrock – a shopping center in the midst of a significant redevelopment – for the San Mateo location, Johnson said.
The new stores should be open in January.
Bed Bath & Beyond, a home- goods retailer based in New Jersey, currently has three locations in Albuquerque. That includes the Winrock site, which has been open since 1996.
Bed Bath & Beyond Inc. also has more than 80 Buybuy Baby locations around the country, though none in New Mexico.
The retailer carries more than 20,000 products with inventory that runs the gamut from baby toys and clothing to nursery furniture, according to its website.
The project commences as Walmart prepares to open its new Neighborhood Market store at the nearby Pavilions at San Mateo. The store will open this summer, joining existing tenants such as Old Navy and Skechers and filling a large void at the shopping center created when Ultimate Electronics closed in 2011.