Q2 2020 Albuquerque Industrial market report

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Pivoting and still growing strong

Much of the world came to a stuttering halt during the first half of 2020 as the COVID-19 pandemic forced businesses to cease operations and practice social distancing to limit its spread.

One of the few industries allowed to remain in operation during this unprecedented shutdown was the industrial market, which has shown it can pivot and innovate to keep operating during a difficult time.

Local manufacturing suppliers like Roses Southwest Papers, Fab Lab Hub and others shifted their operations to produce critical or high-demand items in short supply during the pandemic, like toilet paper, medical personal protective equipment (PPE) and COVID-19 testing supplies. Meow Wolf, one of Santa Fe’s largest art entertainment venues that was forced to close its door to the public, has been able to utilize its fabrication center to make desk and face shields. Local distilleries have converted their machinery to temporarily produce and sell hand sanitizer.

 

Key factors this quarter

  • Amazon announced that it will construct a 2.58 million square foot, five-story distribution facility with estimated completion in 2021.
  • Albuquerque’s industrial market has seen strong leasing activity and nearly 83,000 square feet of absorption in the second quarter.
  • Local manufacturers have shifted their operations to produce supplies in high demand during the COVID-19 pandemic including toilet paper, and personal protective equipment like masks, gloves and hand sanitizer.

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Q2 2020 Albuquerque Industrial market report

Download Report