By Taylor Hood / Journal Staff Writer
Friday, July 14th, 2017 at 3:47pm
ALBUQUERQUE, N.M. — From couch potatoes watching movies to fitness buffs working out.
The space formerly occupied by Hastings at Lomas and Juan Tabo NE will be converted into a Crunch Fitness, a New York-based gym concept.
The location is 22,529 square feet and has a wide open floor plan, perfect for a fitness center, said Rob Powell, a broker with AllenSigmon Real Estate Group, one of several brokers representing the Manzano Shopping Center Landlords, Eisenberg Manzano LLC.
This will be the first Crunch Fitness franchise in Albuquerque. Construction is to begin “immediately,” according to Powell, and the hope is for an opening date in early 2018. The first New Mexico location is set to open in Las Cruces this year.
Crunch Fitness specializes in classes ranging from spin to pole-dancing to yoga. It also offers a full gym and personal trainers.
Michael Butler, managing partner for Lockehouse Retail Group, the firm representing Crunch Fitness said the company is looking to add two or three more Albuquerque locations in the next two years.
The AllenSigmon team — Powell, Jeff Martinez, Austin Tidwell and Daniel Kearney — has worked to fill the large space since Hastings liquidated last fall and has had to overcome a number of hurdles.
“There is a bunch of box space out there,” said Powell. “So when Hastings vacated the market, they left this square footage and the (difficulty) was in trying to find different users for that type.”
Though progress in filling the former Hastings locations has been slow, there has been movement throughout the state.
Peterson Properties has leased two locations in New Mexico recently. One, a 28,532-square foot space in Farmington, was leased to EntertainMart, a company similar to Hastings. According to Peterson, EntertainMart bought the top five Hastings locations in the region with the intention of carrying on the same model.
In Alamogordo, Peterson has also leased a 22,500-square-foot space to Burkes Outlet, a discount store.
The Crunch Fitness lease represents the first Hastings location to be sold or leased in the Albuquerque area, according to the AllenSigmon team.
“The site was chosen because of the visibility and traffic in and around the shopping center,” Butler said. “Crunch is attracted to this particularly dense trade area.”
Powell and Martinez say the addition has the potential to help revitalize the Manzano Shopping Center at Juan Tabo and Lomas NE.
“We are excited about it because I think … bringing more traffic to the center only helps the tenants around it,” Martinez said.
Other tenants include Dollar General, Metro PCS, Liberty Tax, Dr. Dental and Rustic Tea.
Story originally reported by the Albuquerque Journal:
Allen Sigmon Real Estate Group is a full-service commercial real estate company based in Albuquerque with an expertise in acquisitions, brokerage, development, and property management. As a local company, we pride ourselves in our knowledge of the New Mexico commercial market and the relationships we are able to foster compared to larger national firms. Our office works with every kind of commercial property; including office, industrial, retail, land, and multi family.
Our understanding of client needs and concerns not only comes from our experience as an office but also as owners and investors of commercial property ourselves. We have an excellent team in place that is eager to work on your behalf; our results speak for themselves.