LCSN: On the way: National/regional chains eye Las Cruces

April 23, 2011. Retrieved online April 25, 2011 from Brook Stockberger, Las Cruces Sun-News

LAS CRUCES – You’ve probably heard some of these company names recently: Tractor Supply; Pro’s Ranch Market; CVS Pharmacy; Einstein Bros. Bagels; Holiday Inn Express; SanSai Japanese Grill; Schlotzsky’s.

Those are some of the national or regional chain companies who have announced and/or started work on Las Cruces locations recently.

Jim Peach, who teaches economics at New Mexico State University, said that a “herd instinct” is at play, which is good news for Las Cruces.

“Firms see other firms move in and they become interested,” Peach said. But this is no lemming-like plunge off a cliff. The companies would not move to town if they did not think there was a chance of success.

“We were never hit by the recession quite as hard as most places,” Peach said. “The second thing is that the 2010 census indicates the strong population for the region.”

Rick Stoes, managing director with Grubb & Ellis commercial real estate in Las Cruces, said he has seen interest grow from national and regional companies in the past year. Still, he cautioned that the flood gates are not exactly open either.

“Things are still a little slow-going,” Stoes said. “(But) absolutely, we’ve seen more interest.”

He said two national tenants are looking seriously at locations in the Laguna Seca Plaza at 3020 E. Lohman Ave., which already features Ross and Marshalls. He would not reveal names yet, but said there is a letter of intent for a location.

Projects

The 2,500-square foot Einstein Bros. Bagels, across from the Mesilla Valley Mall at 775. S. Telshor Blvd., next door to the Bank of the West branch, is currently set to open Nov. 1, said Jake Redfearn with NAI 1st Valley Realty.

“That’s their target date,” Redfearn said. “There were in town last week.”

Work has started on a new Tractor Supply store for Las Cruces at 1440 W. Picacho Ave., at the corner with Valley Drive. The store is expected to be about 19,000 square feet on an area of 2.84 acres.

In February, work started on a Holiday Inn Express – the second for Las Cruces – on Telshor Court, past Uno Chicago Grill.

There are plans for a CVS Pharmacy at the corner of Main Street and Elks Drive – where a gas station used to be – across the intersection from the Walgreens store at 3100 N. Main St.

Read the Las Cruces Sun-News article.


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