ALBUQUERQUE, N.M. — Las Estancias, the massive mixed-used commercial development in the South Valley, is expecting to welcome more newcomers this year.
Once considered an underserved trade area in need of retail, medical, entertainment, banks and other business services, Las Estancias so far has generated 150,000 square feet of new construction at the site near Rio Bravo and Coors SW. There are currently 14 retailers providing more than 300 jobs, according to the office of County Commissioner Steven Michael Quezada. And more jobs are on the horizon with other tenants in various stages of development.
Randall Parish, a broker with NAI Maestas & Ward who represents Las Estancias, told the Journal that a name brand anchor has signed a letter of intent for at least an additional 20,000 square feet of space.
Shopping center representatives also are negotiating leases with three national chains, and have already inked deals with regional names like Dion’s Pizza, Sushi King, New Mexico Bank & Trust, Nusenda, and Lovelace and Presbyterian health systems, which have either opened for business or will very soon.