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Downtown Albuquerque鈥檚 Silver Street Market in search of new operator

Property, market owners aiming to keep grocery services in the space

The exterior of Silver Street Market inside Downtown鈥檚 Imperial Building at 205 Silver SW in Albuquerque. The market鈥檚 owner is in search of a new operator for the store.
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After years watching her father run John Brooks Supermarket stores across New Mexico, Albuquerque native Kelly Brooks said starting her own Downtown grocery store felt right.

鈥淚t just felt like a good opportunity for Albuquerque and to service all those people Downtown who did not have a convenient grocery store,鈥 said Brooks, who runs Silver Street Market with her ex-husband Rob Ortmon. 鈥淚t felt like something that we were supposed to do.鈥

Nearly a decade after opening the market 鈥 one of Downtown鈥檚 only grocery stores 鈥 in August 2016, the business is now for sale.

Sergio Castillo, an associate broker with Allen Sigmon Real Estate Group, officially the roughly 11,500-square-foot market space, along with the business itself, in March. Brooks is ready to pass the reins to a new operator and focus on a role she has with John Brooks Supermarket.

鈥淚 had hoped that by the 10-year mark, the neighborhood would have changed significantly for the better,鈥 Brooks said. 鈥淣ow that it鈥檚 here, those things have not happened. I think that the neighborhood, at times, is more challenging than it was in 2016 when we first opened.鈥

Unhoused people frequently hanging out in front of the market 鈥 situated inside what鈥檚 known as the Imperial Building at 205 Silver SW 鈥 have been one of the most persistent challenges, Brooks said.

鈥淚t鈥檚 really a handful of people. We know them by name, and we know that most of these people are harmless, but the general public doesn鈥檛 know that, and so those are the people that are keeping customers from coming,鈥 Brooks said.

Other factors that have contributed to Brooks鈥 decision to move on from the business include her divorce from her co-owner, rising costs for products and insurance, and what she said feels like a lack of support from the city. The store鈥檚 10-year lease is also up at the end of this year.

Because Silver Street Market is one of few grocers in the area, Brooks said keeping that service there is a priority for both her and the property鈥檚 owner, Geltmore LLC 鈥 whether someone takes over Silver Street Market or launches a new grocery store in the space.

鈥淐losure is the last option,鈥 Brooks said. 鈥淲e really want to be able to find someone to take it over, doing exactly this or close to this. That鈥檚 why we鈥檙e keeping our options open. The last thing I want to do is close.鈥

City Councilor Joaqu铆n Baca, who represents the Downtown area, echoed the importance of keeping a grocery store in the space, estimating Silver Street Market regularly serves about 7,000 people in Downtown and surrounding areas.

鈥淭o lose it would be much more than just creating a food desert,鈥 Baca said, saying that grocery stores create healthy communities and are also a vital part of recruiting people to an area. 鈥淗aving a grocery store nearby is a game changer for quality of life.鈥

Baca said he recognizes the challenges Silver Street Market faces being Downtown and agrees that Brooks hasn鈥檛 鈥済otten the support she needs, or even deserves,鈥 from the city.

The city councilor said he thinks a future market owner could find support in the ongoing effort to launch a Downtown Business Improvement District, as well as a recent ordinance the council passed this week to ban sitting and sleeping on sidewalks.

If someone decides to purchase the existing business 鈥 for a price which Brooks said is negotiable 鈥 a transferable liquor license and store equipment are also up for grabs.

While Brooks and Geltmore are hoping to make a deal by the end of the year, David Silverman, principal of Geltmore, said the two are willing to work together to keep the market open beyond that timeline and continue the search for an operator.

鈥淭hey put in so much blood, sweat and tears,鈥 Silverman said. 鈥淏ut they don鈥檛 want to leave the community high and dry, so we are hopeful that there is someone that has grocery experience and has the wherewithal to operate a store at that location.鈥

Brooks has informally searched for a new operator over the past two years. She received some interest, but none had the grocery store experience she is looking for. The ideal buyer, she added, is someone who 鈥渨ould take an active interest in running the store鈥 and has energy to give, not just to the store, but to getting to know the people Downtown.

While the store has come with challenges, Brooks said it also comes with the reward of offering a needed resource to an entire community. She said meeting and serving them was her favorite part of the venture.

鈥淒owntown is just a really cool mix of people, and they all look out for each other, whether they know anybody personally or not,鈥 Brooks said. 鈥淚 think some of those people are probably the most generous that I鈥檝e seen. Sometimes the people that have the least give the most.鈥

Kylie Garcia covers retail and real estate for the Journal. You can reach her at kgarcia@abqjournal.com.