Story by Steve Carr, UCAM

The University of New Mexico has finalized an agreement for Lobo Crossing, allowing SimonCRE, a Phoenix-based commercial real estate developer, to move forward with the purchase of 38 acres of university-owned land near UNM’s sports facilities for the development.

“Lobo Crossing reflects The University of New Mexico’s commitment to strengthening communities and expanding opportunity across our state,” said UNM President Garnett S. Stokes. “This development brings essential services, drives economic growth, and advances our vision for a vibrant South Campus that serves students, neighbors, and all of Albuquerque."

Lobo Crossing will be the first major multi-tenant retail center built in the metropolitan area in more than 20 years. The project will bring much-needed retail, grocery, and dining options to a significantly underserved area of the city. Renderings show a walkable, open-air environment with integrated pedestrian pathways, gathering spaces, and a modern retail layout that complements the surrounding campus and athletics facilities.

The 365,000-square-foot development will be anchored by Target, a leading national food and general merchandise retailer, along with approximately 10 junior anchor tenants, including smaller retailers, service providers, and restaurants, creating a dynamic mix of offerings designed to serve students, fans, and nearby neighborhoods. It supports the continued growth of the South Campus sports and entertainment district and aligns with the South Campus Tax Increment Development District (TIDD).

“Lobo Crossing reflects The University of New Mexico’s commitment to strengthening communities and expanding opportunity across our state. This development brings essential services, drives economic growth, and advances our vision for a vibrant South Campus that serves students, neighbors, and all of Albuquerque.”

— UNM President Garnett S. Stokes

According to SimonCRE, some of the tenants joining the center include Burlington, Marshalls, HomeGoods, Sierra, Boot Barn, Five Below, Michaels, and others to be announced, along with small shops.

“Lobo Crossing represents years of planning and strong partnership between The University, the City of Albuquerque, and SimonCRE to bring meaningful development to UNM’s South Campus”, said Teresa Costantinidis, executive vice president for Finance and Administration. “This project will generate economic activity, improve access to services in an underserved area, and help transform South Campus into a vibrant district that serves students, the university, and the entire Albuquerque community. It is an important and exciting step in turning our long-term South Campus vision into reality.”

The site analysis identified the area south of Central as a food desert, currently underserved by retail. Lobo Crossing will bring high-quality retail, grocery, and general merchandise to a part of the city that previously lacked them. It will not only attract new investment and commercial activity to the area but also enhance access, walkability, and connectivity to key destinations, including the UNM Lobo Sports Complex.

"Lobo Crossing is more than a retail development; it's a foundational piece of the University's vision to transform the South Campus into a premier destination for innovation, entertainment, and daily life," said Josh Simon, SimonCRE CEO and founder. "Our collaboration with UNM has been driven by a shared goal: to unlock the potential of this land in a way that generates long-term economic value for the University while creating a vibrant new gateway for the city. A critical part of that vision is ensuring that local Albuquerque entrepreneurs and business owners have a real place here, as tenants, operators, and stakeholders in what this district becomes. We are honored to partner with an institution that isn't afraid to think big, and we are ready to turn this ambitious master plan into a reality that serves the UNM community for decades to come."

The South Campus TIDD is a partnership with the City of Albuquerque, and the project will serve as a gateway to the university while supporting broader economic development goals. Lobo Crossing is expected to generate significant economic activity, including construction jobs, ongoing retail employment, and an expanded tax base. It directly supports the goals of the South Campus TIDD, which funds critical infrastructure and fosters economic growth. Lobo Crossing is a key component of UNM’s long-term vision to transform South Campus into a vibrant destination for sports, entertainment, innovation, and community engagement.

“We are excited to hear that the Lobo Crossing project is moving forward,” said Alex Curtas, communications director for Albuquerque Mayor Tim Keller. “The development of the South Campus area through a City-supported Tax Increment Development District promises to add new commercial and university-supported amenities for university students and Albuquerque residents alike that will bring a new vibrancy to the area.”

Lobo Crossing builds on a series of investments already taking shape in the South Campus district. In-N-Out Burger — New Mexico's first has committed to a site, and Raising Cane's has already opened a restaurant within the TIDD. Additionally, this year, the New Mexico Legislature allocated $28 million toward Phase 1 of a planned University Stadium renovation. Together, these investments show we're moving forward with a coordinated, multi-year effort to make South Campus a year-round destination.

The project now moves into its next phase, including site preparation and infrastructure work, followed by vertical construction. We'll share more details on the groundbreaking and opening timelines as development progresses. The sale to SimonCRE is subject to the requirement that the project be constructed in accordance with plans approved by UNM. Construction will begin in May 2026, with completion expected in fall 2027.

“Lobo Crossing marks an exciting step forward in building a lively sports, entertainment, and technology district at UNM’s South Campus,” said Tom Neale, chief operating officer, Lobo Development Corporation. “This project would not have been possible without the South Campus Tax Increment Development District. It really shows what can happen when we work together with community partners, the City of Albuquerque, Bernalillo County, and the State of New Mexico.”

University leaders emphasize that Lobo Crossing is just the beginning of the transformation of UNM’s South Campus.

“As we look ahead, Lobo Crossing represents the first major step in activating the South Campus district,” Costantinidis said. “It sets the stage for future development, new partnerships, and continued momentum that will benefit UNM and the Albuquerque community for years to come.”