A major transformation is underway at one of the Far Northeast Heights’ most recognizable retail corners — and our RESOLUT RE New Mexico team is proud to help shape what comes next.
Caracol Plaza, located at 12500 Montgomery Blvd. NE, is preparing for a full renovation and rebrand after decades of serving the surrounding neighborhoods. The 50,838 SF center, home to longtime anchors like Howie’s Sports Page, Jazzercise, local salons, and a voting center, is now poised for the kind of revitalization the community has been waiting for.
Bringing New Energy to a Center With Deep Roots
Purchased by owner Peter Kapuranis’ family in the 1990s, Caracol Plaza will undergo a comprehensive update—including fresh stucco, a new façade, upgraded signage, a new roof, parking lot improvements, and a modernized color palette. Interior improvements to the vacant suites will include new HVAC, exposed ceilings, and ready-to-build spaces designed for a wide range of local businesses.
Construction is expected to begin in Q2 of 2026, with completion planned by year-end. Kapuranis, whose Colorado-based firm has rehabilitated numerous aging centers, sees significant value in the neighborhood, calling the redevelopment “long overdue.”
Leasing Momentum Led by Austin Tidwell, Remsa Troy & Daniel Kearney
RESOLUT RE New Mexico is proudly representing the leasing efforts at the center, with Austin Tidwell as lead agent and Remsa Troy and Daniel Kearney serving as co-listers. Their focus: repositioning the plaza as a vibrant community hub where restaurants, boutique retailers, wellness concepts, and essential neighborhood services can thrive.
As noted in the article, the center currently has 23,160 SF available, with a national retailer already in negotiations for the 10,000 SF freestanding building on the northwest corner — a move expected to anchor the project and accelerate additional leasing activity. Without that pending tenant counted, the plaza sits at roughly 35% occupancy, making momentum especially significant as interest builds.
Tidwell shared that as soon as RESOLUT’s signs went up, “phone calls, emails and texts” began coming in from prospective tenants and community members excited to see new life at the plaza. The team sees the center’s high-visibility location — with more than 40,000 vehicles passing daily — as a major advantage that will help attract quality operators ready to serve the surrounding neighborhoods.
A Vision Built Around Community
Kapuranis and the RESOLUT team are aligned on the future of Caracol Plaza: create a refreshed, community-focused space where residents can gather, dine, shop, and enjoy daily conveniences.
The redevelopment plans aim to preserve existing tenants — all of whom will remain open during renovations — while introducing new restaurants and services that complement the neighborhood and outdoor patio areas. “We’re hoping to create synergy and a place the community can gather and generate memories,” Kapuranis said.
What’s Next
With construction set for 2026 and strong leasing momentum already underway, Caracol Plaza is on track to become one of Albuquerque’s most anticipated retail redevelopments. Austin Tidwell, Remsa Troy, and Daniel Kearney are actively in discussions with businesses looking for flexible, modern space in one of the city’s most desirable trade areas.
For local operators hoping to secure a spot in the revitalized Caracol Plaza, now is the time to connect.
Read the full article from Albuquerque Journal here: https://bit.ly/4ocGbnl