Com­mer­cial mar­ket dy­namic again

Home - Santa Fe Real Estate Guide - - PERMACULTUREINPRACTICE - By Paul Wei­de­man

THE COM­MER­CIAL-MAR­KET SCENE DUR­ING THE PAST YEAR HAS BEEN AN IM­PROVE­MENT over the previous Oc­to­ber-to-Oc­to­ber pe­riod. Santa Fe lost some beloved busi­nesses, but not at such a dras­tic level. A year ago we re­ported the clo­sures of Tony’s Rental Sales & Ser­vice, Leish­man’s of Santa Fe, Bert’s Burger Bowl, An­tiqueWare­house, J. Crew, and Fly­ing Star Restau­rant— a col­lec­tion with nearly 175 years of Santa Fe his­tory among them.

Start­ing in July, Hast­ings En­ter­tain­ment be­gan sell­ing off all in­ven­tory at the DeVar­gas Cen­ter store that opened in a former Al­bert­son’s space. All 123 Hast­ings stores in the United States were set to close their doors by Oct. 31 as theA­mar­illo com­pany fell vic­tim to chang­ing con­sumer trends re­gard­ing videos, mu­sic, and books. The 16,320-square-foot space is the mall’s fourth largest, af­ter Of­fice De­pot, Sprouts, and Ross Dress for Less.

On the other end of town, the Santa Fe Place lo­ca­tion of Sports Au­thor­ity joined a sim­i­lar na­tion­wide go­ing-out-of-busi­ness bank­ruptcy drama when it closed its doors last spring. The sport­ing goods re­tailer was in one of the mall’s an­chor spa­ces, more than 60,000 square feet, that pre­vi­ously had a Mervyn’s un­til the end of 2008, when that re­tailer also suf­fered a bank­ruptcy liq­ui­da­tion.

At Coron­ado Cen­ter, the spa­ces at the east end re­main va­cant with the loss of Santa Fe Bak­ing Co. last March and Leish­man’s in 2015. But owner Phillips Edi­son & Com­pany had good news in an Oct. 27 press re­lease. Best of all is the im­mi­nent re­turn of the cof­fee shop as Phillips Edi­son se­cured a 4,500-square-foot lease with The New Bak­ing Com­pany. Thatwill re­open in the former Santa Fe Bak­ing Co. space un­der new own­er­ship with a facelift of the restau­rant, al­most all of the previous em­ploy­ees re­turn­ing, and one of the new own­ers a former, 17-year em­ployee of the restau­rant.

First Na­tional Bank moved from the cen­ter’s Suite 516 to the satel­lite pad at the cor­ner of St. Fran­cis Drive, next to Sub­way. The 2,640-square-foot Suite 516 space will be an Orangeth­e­ory Fit­ness cen­ter. Orangeth­e­ory of­fers group per­sonal train­ing work­out bro­ken into in­ter­vals of car­dio­vas­cu­lar and strength train­ing. Com­ing in to fill Suite 510 is a lo­cally owned busi­ness called Sleep& Dream. In­no­vated by Mary “Mat­tress Mary” Domito and Sharon Scott, the storewill fea­ture mat­tresses by Hästens, Vis­pring, Hyp­nos, A.H. Beard, and Posh & Lav­ish dis­played on 27 model beds. Sleep& Dream is sched­uled to open in De­cem­ber.

Also com­ing to Coron­ado Cen­ter is a Nutr­ishop out­let, of­fer­ing vi­ta­mins and sports nu­tri­tion and weight-loss prod­ucts.

One of the big­gest sto­ries down­town is the pend­ing oc­cu­pa­tion of San­busco Mar­ket Cen­ter byNewMex­ico School for the Arts, which pur­chased the shop­ping cen­ter and­will­move the school from its cur­rent digs in the old St. Fran­cis Cathe­dral School. The school is work­ing with Stu­dio South­west Ar­chi­tects, Al­bu­querque; and Lake Flato Ar­chi­tects, San An­to­nio, on plans to re­model most of the 88,000 square feet of spa­ces, in­clud­ing the large former quar­ters of Bor­ders Books and Cost Plus World Mar­ket.

It is log­i­cal to think that one of those big build­ings may be used for a per­for­mance space. “Not at this time,” said Julie Bernard, the school’s di­rec­tor of in­sti­tu­tional ad­vance­ment. “How­ever, we are de­vel­op­ing flex­i­ble and multi-pur­pose spa­ces which can ac­com­mo­date per­for­mances and ex­hi­bi­tions through­out the cam­pus.”

The school serves 220 stu­dents from over 60 com­mu­ni­ties through­out the state.

“Once NMSA’s new cam­pus is com­pleted, we will be able to pro­vide op­por­tu­nity and ac­cess to more stu­dents from through­out the state and we will be able to ex­pand our pro­gram­ming,” Bernard said. “Con­tin­gent upon fund­ing, NMSA has al­ways dreamed of adding two arts con­cen­tra­tions — cre­ative writ­ing and lit­er­a­ture, and cin­e­matic arts— to our ex­ist­ing pro­gram­ming in dance, mu­sic, the­ater, and vis­ual arts.

The NMSA-Art In­sti­tute ad­min­is­tra­tive of­ficeswere set to move to San­busco by Nov. 1. The an­tic­i­pated time­line, sub­ject to city design re­view, per­mit­ting process,

Come in! The en­trances to Ar­ray on Guadalupe Street and Hunt Mod­ern on San­doval Street

PHO­TOS BY PAUL WEI­DE­MAN

op.cit books, the first San­busco busi­ness to move to DeVar­gas Cen­ter

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