Carlisle Crossing, a retail redevelopment project in the University submarket of Albuquerque, has won a 2025 CoStar Impact Award, as voted on by judges with knowledge of the local real estate market.
Carlisle Crossing was one of the largest recent urban redevelopments in Albuquerque. This former K-Mart property was essentially demolished and redeveloped into a modern Whole Foods supermarket, along with a large American Home Furniture store.
Other tenants now include Burger King, and more leasing is expected. Whole Foods relocated from a small location it occupied across the street.
About the project: Site improvements included new drainage, sensitive landscaping, a variety of sustainability-focused improvements and electric car charging stations. Carlisle Crossing totals 109,286 square feet. Construction began in August 2021 and was completed in February 2024.
What the judges said: "The development is at an important crossroads of the market and completely revitalized a tired, defunct shopping center into an attractive, vibrant retail center that will serve the community for years to come," remarked Conner Marshall, associate managing director for Colliers Valuation and Advisory.
They made it happen: David Rosen of Rosen Associates Management was the developer.