An Albuquerque developer is trying a new approach to his repeat attempts to entice a grocer to open in East Downtown or EDo.
Rob Dickson, developer of the Lofts at Albuquerque High at Central and Broadway, is reaching out to investors for a planned 4,200-square-foot grocery store concept called The Daily Market. Dickson said initial investor interest has been encouraging, and he needs a manager with extensive grocery store experience for plans to continue moving forward .
“I need a person who can run the store, an experienced grocery store manager [who] can run the project from A to Z,” Dickson said.
Dickson said a business plan in place, but he needs that “key person” to update it, amend it and put together a management team of about four individuals.
The commercial building under consideration as the store site has a large parking lot at 710 Central Ave. SE, one block west of Interstate 25 and the Hotel Parq Central. It last housed an art gallery and skateboard retail shop.
Dickson said a neighborhood market study was done to assess total grocery purchases and market penetration. A Research & Polling
survey done in 1999 showed that about one-third of household members in the EDo neighborhood wanted to walk to services, like a grocery store or dry cleaners, and only 1 percent of them could do that at the time.
“This [project] is not just based on gut feel. It will be a great amenity for the neighborhood, but we do not expect [neighborhood customers] to be more than 10 percent of the business. At least 9 out of 10 will arrive in an automobile and there is ample parking,” he said.
Dickson said about 25,000 cars pass the location daily and 100,000 cars pass nearby each day just one block away on I-25.
Downtown has it all. Restaurants, bars, theaters, but the one thing it's missing is a grocery store for the many urban dwellers who call downtown Albuquerque their home.
Posted on Albuquerque Real Estate-Albuquerque Homes For Sale
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