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Spotlight: Santa Fe, N.M.
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Office Sector (Rank)

Vacancy rate

  1. Business capital district: 2.9 percent
  2. Greater Santa Fe: 6.1 percent

Rents/leases (per square foot)

  1. Business capital district: $28.28
  2. Greater Santa Fe: $22.20
  3. Class B: $21

Inventory

  • Net office: 1.27 million square feet

Development

Approximate annual average

  • Overall nonresidential construction: 350,000 square feet
  • Office: 109,000 square feet
  • Retail: 184,000 square feet
  • Industrial: 35,000 square feet

Approximate approved commercial development in 2007: 300,000 square feet

Approved housing units in 2007 (metropolitan area): 900

  • Housing units in 2006: 1,086

Résumé

  • Largest private employers: State of New Mexico, Santa Fe School District, U.S. government, city of Santa Fe, St. Vincent Regional Medical Center
  • 2nd-best U.S. city to visit in 2006 and 4th-best in '07 (Conde Nast Traveler)
  • Filming site for "No Country for Old Men," 2008 Academy Award winner
  • 2nd-largest art-sales market in U.S.
  • Added 3.5 million square feet of commercial space between 1997 and '07

Sources: City of Santa Fe Housing & Community Development Department, Grubb & Ellis, U.S. Census Bureau, U.S. Department of Labor

Melinda Young is an associate editor at Scotsman Guide. Reach her at (800) 297-6061 or articles@scotsmanguide.com.



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