March Meeting Report
See what the City of Albuquerque's Economic Development and Municipal Development Department's Engineering Division reported on at the most recent meeting. Read more...
April 16, 2015
Nativo Lodge 11:30 am
April 16 Meeting
Joshua J. Skarsgard is tuned in to the real estate pulse of our state as a real estate attorney, retail developer, and the Zoning Hearing Examiner (ZHE) for the City of Albuquerque.
Josh is the President of The Skarsgard Firm, P.C. He attended the University of California Santa Barbara where he received his BS in Economics/Business. Josh attended the University of Southern California where he received a Master’s Degree in Real Estate Development. He attended the University of New Mexico where he received a Juris Doctorate in Law. Josh is a member of the State of New Mexico Bar, and a certified public accountant (CPA). Josh was appointed by Governor Martinez to serve on the New Mexico Board of Licensure for Professional Engineers and Professional Surveyors. Josh is a proud Dad, Husband and Boston Celtics Fan!
Retail and Restaurant Real Estate Development in New Mexico
Jon Barela, Cabinet Secretary, New Mexico Department of Economic Development, will address the North I-25 Business Association on April 16.
His primary topic will be the just-completed 60-day session of the New Mexico Legislature.
Barelae was appointed as Secretary for the Economic Development Department by Governor Susana Martinez and confirmed unanimously by the New Mexico State Senate.
During his tenure, Barela has been instrumental in leading the state's efforts to reform its tax structure by lowering the state's corporate income tax rate 22 percent to 5.9 percent and implementing a single sales factor to allow manufacturers to pay taxes on profits on goods sold only in New Mexico. He has been praised for his work to reduce the regulatory burden on job creators. He established the Office of Business Advocacy within the department to assist businesses navigate the state regulatory, licensing and permitting process. Nearly 2,000 jobs have been created or saved as a result of this initiative. See more
At the March 22 meeting, Josh Skarsgard provided a humorous and informative look at the retail and restaurant real estate development process in Albuquerque and other New Mexico locations. Here are the highlights:
- To solve the challenges of poor economic climate, must “match the demographic”
- Retail has a positive effect on economic development
- Creating jobs in construction and in stores
- Money multiplier effect
- Urban infill and redevelopment mean a better built environment
- More options in retail and restaurants
Restaurants want to come here because Albuquerque is an underserved market.
- We are a good market for “higher end fast casual food.”
- Case in point, Chick-Fil-A. Though their menu runs about $1.50 higher than McDonalds, Chick-Fil-A has seen success in our market.
Retail development is substantially different from multi-family or industrial development.
Types of retail development strategies: