Albuquerque, NM | 2016 Top #CRE Markets to Watch: Industrial

SVNIC’s 2016 Market Outlook Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2016. Today we are delving into the 2016 Top Industrial Markets to Watch. Not the largest or the most actively contested markets, the 2016 Industrial Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Industrial Market to Watch: Albuquerque, NM

Albuquerque top industrial marketAlbuquerque’s overall economy has remained fairly stable with a slowly falling, above national average level of unemployment at 5.8% as of January ‘16, according to the Bureau of Labor Statistics. Key industrial sectors have been losing employees and thus may threaten to soften the industrial space market; these include Manufacturing and Trade, Transportation, and Utilities which are contracting at –2.5% and –0.9% annualized rates, respectively. As much of the economic and industrial base of Albuquerque centers on high tech, research, defense, and other manufacturing, the industrial sector should remain very stable on a relative basis. Given low levels of new supply, growth in fundamentals could also occur in 2016 as the market is not over-supplied.

Stay Updated…

Over the next few weeks, the SVN Blog will be featuring posts that will focus on each of the top markets to watch for industrial, multifamily, office, and retail properties. SVN Advisors from selected top markets have provided their industry expertise regarding what to look out for in their specific market in the coming months. Don’t miss out on these important insights – subscribe to the SVN Blog on the right side of the blog homepage.

To read more on other top industrial markets, download the full version of the 2016 Industrial Market Outlook report here.

2016 Industrial Market Outlook

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Office Spotlight: SVN/Walt Arnold Commerical Brokerage, Inc. in Albuquerque, NM

This week, we turn the spotlight on SVN/Walt Arnold Commercial Brokerage, Inc. with offices in Albuquerque, New Mexico.

Walt Arnold | Managing Director | SVN/Walt Arnold Commercial Brokerage, Inc.
Walt Arnold | Managing Director | SVN/Walt Arnold Commercial Brokerage, Inc.

1. What has been your strategy for growing your firm and also your market share?
The strategy has been to create an environment for brokers to have the tools to compete, fulfill and win business, employing brokers and staff that are committed to showing up and working hard, hiring quality brokers that fit into the culture of Sperry Van Ness, whether new to the business, mid-career or established veterans. And to have fun in the process, realizing that so much of our careers and life is about the journey. Sperry Van Ness has provided an outstanding platform to recruit high quality individuals to SVN/WACB, Inc. and the Sperry Van Ness story has been instrumental in growing my company and market share.

2. What are some of the unique activities you do to motivate your team? 
Almost every Monday is a “Lunch and Learn” and these sessions encompass not only title underwriters, attorneys, contractors, bankers and many other businesses associated with CRE, but we also work on sales skills and other activities that help us all grow in the CRE business. A recent series of Mondays involved going through Terri Sjodin’s tape series title, Small Message, Big Impact, which was about creating an elevator speech. We capped it of by bringing in a local expert on the subject and everyone developed a 30 seconds elevator pitch and presented it. It was a great exercise for everyone regardless of the years of experience.  We also schedule events (baseball games, football tailgate, bowling, billiards, non-profit events, etc.) outside the office quarterly to get out and spend some time together.

 3. What’s been the biggest challenge in running your business in the last few years?
Obviously on of the biggest challenges has been to manage cash flow the past several years, which hopefully is starting to improve as we come out of the pit of recession. Another is our goal of continuing to create an environment that’s a great place to work. I mention this as a challenge because it has to be top of mind and takes some detailed effort and energy to continue to improve and to ask how we can do things better for our clients, customers and each other.

SVN/Walt Arnold Commercial Brokerage, Inc. Staff at Halloween
SVN/Walt Arnold Commercial Brokerage, Inc. Staff at Halloween

4. How many Advisors/Staff did you have when you joined SVN? How many (in total) do you have now? 
When I started with Sperry Van Ness 7 years ago, I had an assistant, a property manager and one broker. Currently now in the office are 8 brokers, a property manager, a property management accountant, a marketing director, and 3 part-time support staff in property management, brokerage and accounting.

Walt Arnold, CCIM, SIOR
Managing Director
SVN/Walt Arnold Commercial Brokerage, Inc.
Albuquerque, New Mexico

*All Sperry Van Ness® offices are independently owned and operated.