Albuquerque Office Space

BuildingSearch.com has many listings in the city of Albuquerque. We provide a vast array ofAlbuquerque office space types, such as office/R&D, medical/bio tech, and class A through CAlbuquerque office space listings. Searching on BuildingSearch.com makes it easy to find the exact space to suit your needs. Click on the above link to start your search now. 

While Albuquerque is not the capital of New Mexico, it is the state’s largest city. It is the 34th largest city in the United States with a population of nearly 520,000 and is the fifth fastest growing city in the United States thanks to a mild climate and business development planning. In fact, multiple plans for expanding master planned communities that are expected to draw more businesses into the local economy are currently in the works. The city is placed near the center of New Mexico, right along the Rio Grande. The climate is very mild during the summers averaging in the mid eighties, but winters are at or below freezing temperatures. 

Albuquerque is the epicenter of what has been termed the “New Mexico Technology Corridor”, an area with a large number of high-tech companies that runs along the Rio Grande. Major companies that callAlbuquerque office space home whose employees help the economy thrive include Sandia National Laboratories and their contracting companies which bring highly educated workers to this largely agrarian region. Intel also operates a large semiconductor factory just outside the city. Los Alamos National Laboratory is also located near the city and the company occupies a large amount ofAlbuquerque office space. 

The economy has seen recent diversification into the high tech industry. In 2006, Forbes magazine rated Albuquerque the best city for business and careers in America. It was also ranked the 13th best city in the United States for jobs. Thus, Albuquerque office space for lease is in great demand as the booming city attracts more and more tech companies. Albuquerque office space for sale is also flying off the market as investors continue to take advantage of the cities booming tech industry. A huge push in recent years for economic development has resulted in the creation of new restaurants, a revitalized downtown, offices, and apartments. These new renovations have made downtown Albuquerque more metropolitan as it is the hub of urban life and this also attracts companies to Albuquerque office space. 

The office space in Albuquerque market has seen less activity lately as demand decreased in the first quarter of 2008 due to the sluggish national economy. However, vacancy has increased only slightly due to the new construction of 77,000 square feet of Albuquerque office space and the sublease vacancy is around 208,000 square feet. However, with nearly 185,000 square feet of new office space available it is expected that vacancy rates will increase and the amount of subleases will increase as well. Even though the Albuquerque office space market hasn’t been affected by the national recession as much as other cities, Albuquerque has created its own problems as the current supply exceeds demand. Thus, now is a great time to lease Albuquerque office space.