La Mirada Square Anchor Position - 4401 Wyoming Boulevard Northeast, Albuquerque, NM 87111

La Mirada Square (“La Mirada”) is one of Albuquerque, New Mexico’s most identifiable neighborhood shopping centers. Located in the desirable Far Northeast Heights submarket at the epicenter of Albuquerque’s most dense residential corridors, La Mirada enjoys outstanding visibility from two of the city’s most heavily-traveled thoroughfares, Wyoming Blvd and Montgomery Blvd

La Mirada is being introduced to the market for sale for the first time since 1970 when the property was initially developed by the current owner for anchor tenants Grand Central and Albertsons with Walmart later taking over the Grand Central location. The offering consists of 6 buildings and is comprised of 14 existing units. The three anchor suites are 42,124 square feet, 44,060 square feet, and 38,740 square feet, respectively, and are divisible for junior anchor uses.  There is a total of 10,883 square feet of associated shop space and three freestanding outparcel buildings ranging in size from 4,338 to 5,400 square feet.

La Mirada is uniquely positioned for a redevelopment opportunity.  The surrounding trade area is established and desirable, with a strong residential density and above-average household incomes for the Albuquerque market.  The current occupancy level of the property allows the investor to implement an immediate repositioning plan without the challenge of navigating existing leasehold obligations.

The 15-acre site is easily accessible from both Montgomery Blvd and Wyoming Blvd, via three full ingress and egress points and three additional right-in, right-out access points.  There is a large parking field consisting of 866 spaces, providing a very attractive 5.77 per 1000sf parking ratio.

Current tenants include: The Range Café, T-Mobile, Rio Grande Travel, Boba Tea, Noble Gaming, as well as numerous additional local in-line shop tenants.

The largest infill redevelopment opportunity in the greater Albuquerque MSA
Extremely strong neighborhood demographics
High traffic intersection with over 73,000 VPD
Complementary national tenant outparcels
Anchor units are divisble
15.1894 AC and 150,745 SF of existing improvements
866 parking spaces