• The Albuquerque office market fared relatively well during 2020, with positive year-end net absorption, lower vacancy, and higher asking lease rates.
  • As a result of a new large vacant call center, net absorption for H2 2020 was negative 53,433 sq. ft., however the year-end net absorption was positive 128,245 sq. ft.
  • The overall vacancy rate for H2 2020 was 16.0%, which is 120 basis points lower than the same time period 2019.
  • The overall annual median asking full-service lease rate increased 9.4% from the previous year to $17.50 per sq. ft.