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Longtime Northeast Heights retail hub undergoing $1 million facelift
Upgrades are already bringing 鈥榥ew life鈥� to Eastdale Shopping Center, broker says
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One of Albuquerque鈥檚 longtime shopping centers is getting a facelift.
If you鈥檝e driven by the intersection of Eubank and Candelaria NE in recent weeks, you鈥檝e probably noticed the scaffolding and construction at the Eastdale Shopping Center, which is located at 9450 Candelaria NE and anchored by Albertsons Market.
Exterior upgrades and improvements are coming to the longtime Albuquerque retail hub 鈥� originally built in 1965, according to the Bernalillo County Assessor鈥檚 website. Base 5 Retail Partners Associate Broker Brandon Saylor estimates the property has gone at least 20 years without a refresh.
鈥淚t really did need a makeover,鈥� Saylor said, adding he thinks the work will 鈥渞eally make a difference鈥� for the center鈥檚 tenants and customers.
The center鈥檚 in-progress improvements include a repaved parking lot and a facade refresh, Saylor said. He anticipates the upgrades will be complete near the end of this fall.
The upgrades are meaningful for Saylor, who has partnered with Base 5 Qualifying Broker David Chavez to facilitate tenant deals at Eastdale since 2020. He said the upgrades are years in the making and a result of a roughly $1 million investment from the property owner, a California-based real estate investment company.
鈥淲e鈥檙e really excited about this because it鈥檚 long overdue,鈥� Saylor said, adding that the shopping center鈥檚 exterior was aging, and potholes had developed in the parking lot. 鈥淚 think it鈥檚 going to really make the center pop from a visual perspective.鈥�
The improvements come as the center has seven empty units looking to be filled by new tenants. The shopping center spans 116,462 square feet; roughly 13,000 square feet is available, making the center鈥檚 occupancy rate about 89%. Saylor said he could see an Asian eatery filling a gap in one of the center鈥檚 available spaces, as well as an insurance business.
No deals for these spaces have come to fruition yet, but Saylor said he thinks the property鈥檚 ongoing upgrades and the addition of a new Burger King on the Eastdale property will drum up some interest.
The 2,800-square-foot Burger King broke ground earlier this year and is expected to open either late summer or early fall, Saylor said. Like the upgrades coming to Eastdale, the Burger King has also been a long time coming.
鈥淚t鈥檚 one of those things where if there was something that could go wrong, it did,鈥� Saylor said, citing several pre-permitting and permitting hurdles the project encountered since first materializing back in 2020. 鈥淚鈥檓 just thankful that everybody stuck it together; I鈥檓 sure a lot of us have more gray hairs because of this.鈥�
Despite the long journey, Saylor said he鈥檚 excited to see the Burger King near completion. He said it鈥檚 the first deal he and Chavez secured for the center 鈥� which he described as 鈥渄ying鈥� when Base 5 first came on board. The property was about 75% occupied at the time.
Six years later 鈥� with the addition of tenants like ABQ Pet Care Hospital and Peaches Fitness 鈥� Saylor said he thinks the property is in a better spot.
鈥淚t鈥檚 refreshing to see investment be put back into some of these older properties,鈥� Saylor said. 鈥淚 think it鈥檚 gonna put some rejuvenation back into the area. The tenants already are starting to see an uptick in the new life that鈥檚 being brought in.鈥�
Kylie Garcia covers retail and real estate for the Journal. You can reach her at kgarcia@abqjournal.com.
