Retail Leasing

Retail spaces in Santa Fe vary from charming storefronts near the Plaza to modern units in shopping centers or mixed-use developments.

Typical Uses: Boutiques, galleries, salons, wellness studios, gift shops

Key Leasing Terms:

• NNN (Triple Net) leases are common: tenant pays base rent plus taxes, insurance, and maintenance.

• Visibility and foot traffic are crucial—expect higher rates in tourism-heavy corridors.

• Tenant Improvements (TI): Negotiable. Landlords may offer TI allowances to help build out the space.

Example:

A jewelry boutique leasing a 1,200 SF space on Canyon Road may pay $32/SF NNN annually, with additional costs for upkeep and shared outdoor space. Lease negotiations may include signage approval and co-tenancy clauses.