"El Paso retail operates on a demand logic that most Texas investors have never encountered. When 1.4 million people in Juárez want to buy American goods, they cross the bridge and come here. When 40,000 soldiers at Fort Bliss need to shop, they come here. These two demand bases — the cross-border shopper and the military consumer — are both structurally permanent and both completely independent of the U.S. civilian economic cycle. That is the retail story no one is paying attention to. The cap rates at 7.4% are the highest of any Texas market. The vacancy at 6.2% is tighter than Dallas and about the same as Houston. Put that together and you have the most mispriced retail market in Texas — full stop."
Stephen Crittenden · Owner, Crittenden Company · 15+ Years Commercial Real Estate
900K
El Paso MSA Population
▲ +15K net new residents / year
93.8%
Retail Occupancy Rate
▲ Tightening from 92.6% in 2024
1.4M
Juárez Population
▲ Cross-border shopper base
40K+
Fort Bliss Soldiers
▲ Permanent military consumer base
02 / 14
Demographic Shifts — Last 12 Months
Three Demand Bases. Zero Civilian Cycle Dependency.
The Three-Pillar Retail Demand Model
El Paso retail is supported by three structurally independent demand bases that no other Texas market can replicate simultaneously. First: 1.4 million Juárez residents who cross the border specifically to shop American brands — generating 25%+ of El Paso's total retail sales. Second: 120,000+ Fort Bliss soldiers and family members spending BAH-supplemented income in the Northeast corridor. Third: the growing maquiladora management class — U.S.-side professionals earning $80,000–$150,000 managing Juárez's 400+ plants — concentrated in the Westside. Together, these three pillars create a retail demand base that is more recession-proof than any other market in Texas.
Juárez Cross-Border Visits
+8%
Fort Bliss Military Spending
Stable
NE EP / Loop 375 Growth
+9%
Industrial Workforce (Maquiladora)
+6%
Downtown Office Vacancy
14%
🚚
Juárez — 1.4 Million Cross-Border Shoppers
Ciudad Juárez is Mexico's fourth-largest city with 1.4 million residents — more than twice the size of Reynosa (McAllen's cross-border population). Juárez shoppers account for an estimated 25–35% of total El Paso retail sales, concentrated in the Cielo Vista, Bassett Place, and Sunland Park corridors nearest the international bridges. This cross-border demand is structural, not seasonal — it reflects the permanent consumer preference for American retail formats that do not exist at comparable scale in Mexico.
🛡
Fort Bliss — $2B+ Annual Economic Impact
Fort Bliss generates an estimated $2B+ annually in direct economic impact to the El Paso economy. Military consumer spending — concentrated in the Northeast corridor near the post's main gates — is federally funded, BAH-supplemented, and continuous year-round. The PCS season (June–August) surges retail spending as incoming soldiers and families outfit new residences with furniture, appliances, electronics, and clothing.
🏛
Downtown Hybrid Headwind
Downtown El Paso retail — concentrated on El Paso Street and the Heritage tourist corridor — faces reduced weekday office foot traffic with approximately 14% CBD office vacancy. However, downtown El Paso's proximity to the Juárez bridges means tourism and cross-border pedestrian shoppers partially offset the office demand loss. Experiential F&B and international retail formats hold better here than in most Texas CBDs.
03 / 14
Infrastructure — Confirmed & Proposed
Border & Military Infrastructure Reshaping El Paso Retail Trade Areas
✅ Confirmed Projects
Bridge of the Americas (BOTA) Expansion
BOTA — El Paso's largest border crossing — is pursuing processing capacity expansion to reduce crossing wait times for passenger vehicles. Reduced wait times directly increase the frequency of Juárez resident shopping visits to El Paso. Every minute reduction in average crossing time translates to measurable increases in cross-border shopper throughput and El Paso retail spending.
ActiveEast EP / Cielo Vista Impact
Fort Bliss Military City — $500M+ Expansion
Fort Bliss is investing in new barracks, family housing, and on-post facilities as part of an ongoing modernization program. Each new residential unit added on-post partially offsets off-post rental demand — but the net military population growth from continued Army mission expansion means total military spending in El Paso continues to grow year over year.
OngoingNE EP Impact
Northeast Loop 375 Commercial Corridor
The Loop 375 / Northeast Expressway corridor is the fastest-growing retail trade area in El Paso — driven by Fort Bliss expansion and the residential growth of military and maquiladora professional households in Northeast EP and Far East El Paso. H-E-B, national casual dining chains, and fitness concepts are all actively evaluating this corridor for expansion.
ActiveNE EP / Fort Bliss
💬 Proposed / In Development
UTEP Medical School Expansion
The University of Texas at El Paso is expanding its medical school — adding healthcare professional employment that will drive demand for specialty retail in the UTEP / Medical Center corridor. Healthcare professional consumers represent the highest retail spending demographic in El Paso and are currently underserved by the existing West Side retail inventory.
In DevelopmentWest Side Impact
Santa Teresa / West El Paso Growth
The Santa Teresa, New Mexico industrial corridor (adjacent to West El Paso) is experiencing rapid industrial growth driven by Juárez maquiladora overflow. Commercial development following the industrial growth in this cross-state corridor will create new retail trade areas along the US-10 and Doniphan corridor that are currently underserved by existing inventory.
EmergingWest EP / Santa Teresa
Ysleta / Socorro Corridor Development
The Ysleta-Zaragoza bridge area in East El Paso is developing commercial infrastructure adjacent to the growing maquiladora logistics industrial parks in the Eastside. Neighborhood retail concepts — grocery, pharmacy, F&B, and auto service — are following the industrial workforce population that is concentrating in the East EP / Socorro ZIP codes.
DevelopingEast EP
04 / 14
Traffic Patterns & Cap Rate History
Traffic Shifts & Cap Rate Trajectory
Traffic Changes YoY — Key Corridors
NE EP / Loop 375 (Fort Bliss)
+16%
Cielo Vista / Airway Blvd
+10%
Westside / Sunland Park
+7%
Upper Valley / Mesa St
+5%
Downtown / El Paso St
-5%
Cap Rate History — Last 12 Months
El Paso Retail Cap Rate Trend (Avg)
Q2 2025Q3 2025Q4 2025Q2 2026
12-Month Cap Rate Forecast
Cap rates projected to compress toward 6.8%–7.0% over the next 12 months as Texas capital recognizes the structural retail demand from Juárez and Fort Bliss. Military-corridor and Cielo Vista-adjacent centers compress fastest. NNN investment-grade product already trading at 5.75%–6.25% as national buyers recognize the defensive income profile.
05 / 14
Investment Metrics
Average Price Per SF By Retail Product Type
Product Type
Price/SF Range
Cap Rate
Trend
Notes
Single Tenant NNN (Investment Grade)
$240 – $380
5.0% – 6.0%
▲ Compressing
Dollar General, Walgreens, Chick-fil-A
Single Tenant NNN (Local/Regional)
$145 – $240
6.5% – 7.5%
▲ Active
1031 buyer demand strong
Grocery-Anchored Center
$165 – $270
6.25% – 7.25%
▲ Premium
H-E-B proximity commands top pricing
Neighborhood Strip Center
$110 – $200
7.25% – 8.5%
▲ Best yield
Military + Juárez dual demand premium
Cielo Vista / Cross-Border Premium
$185 – $310
6.5% – 7.5%
▲ Juárez premium
Cross-border shopper traffic multiplier
NE EP / Fort Bliss Corridor
$145 – $240
7.0% – 8.0%
▲ Military premium
PCS season occupancy floor
EP Market Average
$148
7.4%
▲ Appreciating
CoStar Q2 2026 Estimate
Investment Grade NNN
$310
Cielo Vista Corridor
$248
Grocery-Anchored
$218
Local/Regional NNN
$193
EP Average
$148
NE / Ft. Bliss Strip
$193
Neighborhood Strip
$155
Highest Yield in Texas
El Paso neighborhood strip centers and Fort Bliss corridor product trade at $110–$200/SF with cap rates of 7.25%–8.5% — the highest yield for comparable quality retail of any major Texas metro. With Juárez cross-border demand and Fort Bliss PCS seasonality providing structural occupancy floors, the risk-adjusted income profile is exceptional.
06 / 14
Submarket Analysis
Average Lease Rates By Submarket
Submarket
Avg Rate/SF/Yr
Vacancy
Leasing Activity
Upper Valley / Mesa St (Westside)
$20 – $34
4.8%
▲ Very High
Sunland Park / Westside
$18 – $30
5.4%
▲ High
Cielo Vista / Airway Blvd (East)
$16 – $28
5.8%
▲ High
NE EP / Loop 375 (Fort Bliss)
$14 – $24
5.6%
▲ Active
East EP / Ysleta / Zaragoza
$12 – $20
6.8%
▲ Growing
EP Market Average
$16.40
6.2%
▲ Active
Central / Dyer / Montana
$10 – $18
7.4%
▶ Stable
Downtown / El Paso Street
$14 – $24
9.2%
▼ Softening
Most Active Leasing Submarkets
Upper Valley / Mesa
★★★
NE EP / Fort Bliss
★★★
Cielo Vista / Airway
★★★
Sunland Park
★★
East EP / Ysleta
★★
Downtown
★
H-E-B — Still the Anchor Engine
H-E-B operates multiple El Paso locations and continues to be the most powerful retail anchor in the market. H-E-B's presence in the Northeast and East EP corridors generates the same 20–35% co-tenancy rent premium as in San Antonio and the RGV. When H-E-B evaluates additional El Paso locations — which they do regularly — every broker and landlord within a 5-mile radius should know about it before the announcement is public.
07 / 14
Tenant Activity — Last 12 Months
Notable Openings, Expansions And Vacating Tenants
▲ Expanding & Opening
National F&B — NE Corridor Expansion
National casual dining and fast casual chains are accelerating expansion in the Northeast El Paso corridor as the Fort Bliss residential population grows and Loop 375 commercial infrastructure matures. Chains that previously served only the Westside and Cielo Vista are now opening second and third El Paso locations in the Northeast — validating the military demand base and lowering the risk profile for future tenants in this corridor.
ActiveNE EP Corridor
Fitness & Wellness — Westside Growth
Premium fitness and wellness concepts are expanding in the Upper Valley and Sunland Park corridors as the maquiladora management class — with household incomes $60,000–$150,000 — creates demand for premium lifestyle retail that the El Paso market has historically been too small to support. The nearshoring boom is generating the income concentration necessary to sustain premium wellness concepts for the first time.
ExpandingWestside
International Retail — Cielo Vista
Cielo Vista Mall — El Paso's largest regional mall — continues to attract international retail concepts targeting the Juárez cross-border shopper market. Mexican middle-class consumers seek international brands and experiences unavailable in Juárez retail. This cross-border luxury and aspirational retail demand sustains Cielo Vista's inline tenant performance at levels that its local residential population alone could not support.
ActiveCielo Vista
▼ Watch Areas
Bassett Place Mall Repositioning
Bassett Place — El Paso's second enclosed mall — is undergoing active repositioning as traditional softgoods anchors reduce footprints. Educational institutions, medical offices, and entertainment concepts are replacing traditional anchor boxes. The repositioning is progressing but will take 3–5 years to fully stabilize inline tenant demand at the new anchor mix. Avoid traditional leases in Bassett without repositioning-specific underwriting.
RepositioningIn Progress
Downtown El Paso Street Softening
The traditional El Paso Street cross-border shopping district — which historically served Mexican shoppers crossing the bridges on foot — is facing structural headwinds as cross-border pedestrian traffic migrates to Cielo Vista and other auto-access destinations. Ground-floor retail vacancy in the downtown core is rising. Only government-adjacent, heritage tourism, and destination F&B formats are finding traction.
Vacancy RisingStructural Shift
Peso / Bridge Wait Time Sensitivity
Cross-border shopper traffic is sensitive to two variables: peso strength (Mexican purchasing power in dollars) and bridge wait times. Extended wait times at BOTA or Ysleta reduce shopping visit frequency. Monitor both metrics as leading indicators for Cielo Vista and East EP retail performance. Both risks are episodic rather than structural — they create buying opportunities when they spike, not permanent impairment.
Risk FactorMonitor
08 / 14
Vacancy Analysis
Where Vacancy Is Tightening And Where It Is Rising
Tightening Vacancy
Upper Valley / Mesa St
4.8%
NE EP / Loop 375
5.6%
Sunland Park
5.4%
EP Market Average
6.2%
Rising Vacancy — Watch
Central / Dyer / Montana
7.4%
Downtown / El Paso St
9.2%
Legacy Power Centers
10%+
✅
Upper Valley Irreplaceable
The Upper Valley / Mesa Street corridor serves El Paso's highest-income residential demographic — the maquiladora management class and established professional families in the West Side mountain foothills. No new competing supply in the pipeline due to geographic constraints. Vacancy at 4.8% with virtually zero concession pressure from tenants. The best defensive retail hold in El Paso.
📊
Historical Context
El Paso's 6.2% retail vacancy is comparable to Houston (5.8%) and Dallas (5.2%) — not significantly elevated relative to major Texas metros. The market has historically maintained 5–7% vacancy as the structural combination of Juárez cross-border demand and Fort Bliss military consumption provides a floor that prevents extended vacancy spikes outside of recession shocks.
⚠
Downtown Structural Shift
El Paso Street's traditional role as a cross-border pedestrian shopping destination is eroding as Juárez shoppers increasingly prefer to drive to Cielo Vista and the Northeast for auto-access American retail. Ground-floor downtown vacancy is rising structurally. The best repositioning play here is converting ground-floor retail to food hall, hospitality, or arts — not trying to sustain traditional retail formats that have lost their consumer.
09 / 14
Opportunity Identification
Value-Add & Development Submarkets to Watch Now
★
NE EP / Loop 375 — Fort Bliss Corridor
5.6% vacancy with 16% traffic growth, driven by Fort Bliss expansion and residential development following Loop 375 infrastructure completion. Strip centers trading at $130–$200/SF at 7.0%–8.0% cap rates. Military PCS seasonality provides the most predictable annual absorption event in Texas retail. H-E-B is actively evaluating new NE EP locations. First-mover landlords will capture co-tenancy premium pricing.
Buy NowStrip Centers
🏠
Cielo Vista / Airway Blvd — Cross-Border
Cielo Vista is El Paso's premier cross-border shopping destination — benefiting from both the Juárez shopper market and the Fort Bliss consumer base. Core strip and pad site acquisitions adjacent to Cielo Vista at 7.0%–7.5% cap rates provide the most structurally supported income in El Paso retail. The Juárez traffic premium makes this corridor the best defensive hold in the East EP market.
Core HoldCross-Border Premium
💻
Upper Valley / Mesa — Premium Income
4.8% vacancy, maquiladora management class consumer demographic, irreplaceable geography. Strip centers at $20–$34/SF NNN — the highest rents in the EP market. Zero concessions from landlords. The Westside premium renter/shopper base is growing as nearshoring brings additional high-income professionals to El Paso. Best for stabilized core acquisitions targeting the most affluent EP consumer demographic.
Core AcquisitionPremium Income
🏭
East EP / Ysleta — Emerging Industrial Workforce
The maquiladora logistics workforce concentration in East EP and Socorro is creating new retail demand adjacent to the industrial parks along Loop 375 East and US-54. Neighborhood retail — grocery, auto service, F&B, pharmacy — is being underprovided relative to the growing workforce population. Early movers in well-located strip center acquisitions at 8.0%–9.0% cap rates will capture the retail buildout of the industrial workforce base.
EmergingIndustrial Workforce
🌏
Santa Teresa / West EP — Long Horizon
The industrial growth in Santa Teresa (New Mexico, adjacent to West EP) is beginning to generate retail demand spillover that will require commercial development on the Texas-New Mexico border corridor. Early land and existing building positions in the Doniphan / I-10 West corridor will benefit from the industrial employment concentration growing in Santa Teresa over the next 5–7 years.
Long-Term5-7 Year Hold
⚠
Avoid: Legacy Downtown Retail
El Paso Street's traditional pedestrian cross-border retail corridor is in structural decline as Juárez shoppers shift to auto-access destinations. Acquiring traditional retail on El Paso Street without a clear conversion-to-hospitality, food hall, or arts-district repositioning plan is a capital trap. The pedestrian cross-border model built this corridor — and the shift to auto-access is dismantling it permanently.
AvoidUnless Repositioning
10 / 14
12-Month Forecast
June 2026 — May 2027 What the Data Predicts
Metric
Current
12-Month Forecast
Direction
Marketwide Vacancy
6.2%
5.6% – 6.0%
▲ Tightening
Upper Valley / NE Vacancy
4.8%–5.6%
4.4% – 5.2%
▶ Tight
Avg Asking Rent
$16.40/SF
$17.00 – $17.80/SF
▲ Growing
Rent Growth Rate
3.4% YoY
3% – 5%
▶ Sustained
Avg Cap Rate
7.4%
6.8% – 7.1%
▲ Compressing
Avg Price Per SF
$148
$158 – $170
▲ Appreciating
Cross-Border Demand
Strong
Strong
▶ Sustained
Military Consumer Spending
Stable+
Stable+
▶ Permanent
▶ Structural Rent Growth
El Paso's three-pillar demand base — Juárez cross-border shoppers, Fort Bliss military consumers, and a growing maquiladora management class — provides the most structurally diversified retail demand in the Texas border region. Rent growth of 3%–5% will continue regardless of U.S. consumer confidence swings, tech layoffs, or energy price cycles that affect other Texas markets.
▲ Cap Rate Compression Ahead
El Paso's 7.4% average is the highest retail cap rate of any major Texas city — a significant mispricing relative to the quality and permanence of its demand base. As Texas capital recognizes the military + cross-border + nearshoring story, compression toward 6.8%–7.1% over the next 12 months is highly probable. NE EP Fort Bliss corridor and Upper Valley compress first.
⚠ Juárez / Policy Monitor
Mexican security conditions affecting Juárez and U.S.-Mexico border policy changes affecting commercial crossing times are the primary risk factors for El Paso retail. Both are episodic rather than structural. Periods of elevated violence or policy friction create short-term retail headwinds — and historically represent the best buying opportunities for investors with medium-term hold horizons willing to underwrite through the episode.
11 / 14
Detailed Lease Rate Analysis
Lease Structures & All-In Costs El Paso Retail Market
Structure
Who Pays Expenses
All-In Cost/SF
Common In
Triple Net (NNN)
Tenant pays base + taxes + insurance + CAM
Base + $2–$4/SF
Strip centers, NNN retail, anchored centers
Modified Gross (MG)
Landlord covers base year; tenant pays increases
Base + $1–$2/SF
Class B multi-tenant retail
Gross Lease
Landlord covers all expenses
All-in — no add-ons
Smaller service-oriented local retail
Percentage Lease
Base rent + % of gross sales (5–8%)
Variable by sales
Cielo Vista and Bassett Place anchors
BAH-Driven Tenant Stability
Military tenants — businesses serving Fort Bliss families — benefit from the most financially stable consumer base in Texas. BAH-supplemented military household incomes of $35,000–$75,000 (plus housing allowance) create above-average spending reliability for food, service, and lifestyle retail adjacent to Fort Bliss. Occupancy cost-to-sales ratios for military-corridor retail tenants are among the lowest in the state, driving exceptional renewal rates and minimal default risk for landlords.
All-In Lease Rates By Submarket (NNN Basis)
Submarket
Base/SF
NNN Add
All-In/SF
Upper Valley / Mesa St
$20–$34
$3–$5
$23–$39
Sunland Park / Westside
$18–$30
$3–$4
$21–$34
Cielo Vista / Airway
$16–$28
$2–$4
$18–$32
NE EP / Loop 375
$14–$24
$2–$4
$16–$28
East EP / Ysleta
$12–$20
$2–$3
$14–$23
Central / Dyer / Montana
$10–$18
$2–$3
$12–$21
EP Average
$16.40
$2–$4
$18–$20
Affordability = Tenant Durability
El Paso all-in retail lease rates of $14–$39/SF are 30–55% below Austin and 15–30% below San Antonio — creating occupancy cost-to-sales ratios that allow tenants to operate profitably at lower volume thresholds. In a military and border economy where consumer spending is predictable but not explosive, lower occupancy costs translate directly to higher renewal rates and longer average lease terms.
12 / 14
Retail Financing Environment — Q2 2026
Financing Terms El Paso Retail Market
Loan Type
Rate Range
LTV
DSCR Req.
Term
CMBS (Investment Grade NNN)
5.75%–6.5%
60%–65%
1.30x
5–10 yr fixed
SBA 504 (Owner-Occupied)
5.5%–6.0%
Up to 90%
1.25x
25 yr amort
Local Bank (Strip / Value-Add)
6.5%–7.5%
60%–70%
1.20x–1.25x
3–5 yr fixed
Life Company (H-E-B Anchored)
5.5%–6.25%
55%–65%
1.30x
10–15 yr fixed
Bridge / Value-Add
7.5%–9.5%
60%–70%
1.10x
2–3 yr floating
Best Positive Leverage in Texas
El Paso's 7.4% retail cap rate average — the highest in Texas — creates positive leverage on virtually all conventional retail financing. Strip centers and military-corridor assets at 7.0%–8.5% financed at 6.5%–7.5% and 65%–70% LTV generate cash-on-cash returns of 8%–13% — the strongest available in any Texas retail market at current pricing. The combination of high yield, structural demand floor, and compressed valuation makes El Paso the highest-income retail opportunity in the state.
El Paso Lender Landscape
Local Banks — Essential Relationships
Western Commerce Bank, BBVA USA / PNC, and International Bank of Commerce are the most active EP retail lenders. They understand the Juárez cross-border demand cycle, Fort Bliss seasonality, and EP market dynamics in ways national banks do not. Local bank rates may be 25–50bps above national platforms, but their knowledge and flexibility on EP-specific underwriting makes them the preferred partners for most El Paso retail deals.
National Platforms Entering
National CMBS and agency lenders are increasingly active in El Paso as market awareness grows. NNN investment-grade product and H-E-B-anchored centers finance on national platforms at competitive rates. The El Paso market is transitioning from a purely local-bank market toward a hybrid as institutional capital discovers the yield premium.
SBA 504 — Especially Strong
El Paso's strong small-business culture — driven by the military and cross-border entrepreneur community — makes SBA 504 particularly active. Military veterans (Fort Bliss creates a large veteran business community) qualify for enhanced SBA terms. SBA 504 owner-user deals at 90% LTV are consistently the most competitive financing structure for El Paso retail owner-occupants.
H-E-B-Anchored — Premium Terms
H-E-B anchor leases qualify for life company and CMBS at the lowest Texas retail rates — identical to San Antonio and the RGV. El Paso H-E-B locations benefit from both the civilian population base and the Fort Bliss/Juárez consumer premium, making them among the most financeable assets in the market. Investors acquiring H-E-B-adjacent pad sites should use life company financing when available.
13 / 14
Brokerage Landscape — El Paso Retail
Who Controls Leasing In Each El Paso Submarket
Firm
Specialty
Primary Submarkets
Known For
Weitzman
Project leasing, tenant rep
EP-wide; H-E-B anchored
Texas's dominant retail platform with El Paso presence. Primary leasing agent for H-E-B-anchored centers across the metro. The most important leasing relationship for anyone developing or repositioning grocery-anchored product in El Paso.
NAI El Paso
Leasing, investment, tenant rep
EP-wide; all product
The most knowledgeable local commercial platform in El Paso with deep expertise in Fort Bliss demand cycles, Juárez cross-border patterns, and EP-specific market dynamics. Essential for any investor serious about El Paso retail.
CBRE
Investment sales, leasing
Cielo Vista, institutional
Global platform increasingly active in El Paso institutional retail. Best for investment-grade NNN sales and institutional center transactions where national buyer access matters.
Cushman & Wakefield
Investment sales, leasing
Metro-wide institutional
Global platform with EP presence. Active in institutional investment sales and major retail center leasing across the metro. Strong capital markets relationships.
Dorado Real Estate
Investment, leasing, management
Westside, NE EP, central
El Paso-based commercial firm with deep local relationships. Active across all EP retail product types. Particularly knowledgeable in the Westside Upper Valley and Northeast military corridor submarkets. Key off-market deal source.
Marcus & Millichap / Matthews
NNN investment sales
EP-wide NNN product
National NNN investment sales platforms with active EP coverage. Both maintain national 1031 buyer networks that regularly source out-of-state capital for El Paso NNN acquisitions at above-market cap rates relative to national comparables.
Submarket Broker Focus
Upper Valley / Westside
Dorado Real Estate and NAI El Paso lead. Weitzman active in H-E-B-anchored components. Premium income buyers should establish relationships with both local platforms for off-market Westside deal access.
Cielo Vista / Cross-Border
CBRE and Cushman & Wakefield lead institutional leasing and investment sales. NAI El Paso covers value-add and middle-market transactions in the Airway Blvd corridor.
NE EP / Fort Bliss Corridor
Weitzman leads H-E-B-anchored project leasing. Dorado and NAI El Paso active across investment sales and tenant representation in the military corridor. Key submarket for understanding Fort Bliss PCS-driven leasing seasonality.
NNN Investment Sales — Metro Wide
Marcus & Millichap and Matthews lead NNN transaction volume with national buyer access. El Paso's 7.4% NNN cap rates consistently attract 1031 exchange capital from California, Colorado, and Northeast investors seeking yield above coastal market pricing.
Source
NAI El Paso Q2 2026 Retail Report · CoStar Group Q2 2026 · CBRE El Paso 2026 Outlook · Weitzman Group EP Retail 2026 · El Paso Chamber of Commerce · Fort Bliss Public Affairs · June 2026
14 / 14
Crittenden Company · Research Services
Three Demand Bases. Zero Civilian Dependency.
Juárez cross-border shoppers. Fort Bliss military consumers. A growing maquiladora management class. El Paso retail operates on demand logic that no other Texas market can replicate. The 7.4% cap rates say the market has not been discovered yet. Act accordingly.