<turbo-stream action="replace" target="mall-map-wrapper"><template><div data-controller="map" data-lat="8.9833" data-lng="-79.5167" data-map-catchment-data-value="{&quot;lat&quot;:&quot;8.9833&quot;,&quot;lng&quot;:&quot;-79.5167&quot;,&quot;primary_radius&quot;:5.0,&quot;secondary_radius&quot;:15.0,&quot;population&quot;:150000}" data-map-demographic-summary-value="{&quot;Mall Demographics&quot;:[{&quot;label&quot;:&quot;Primary Catchment Area&quot;,&quot;value&quot;:&quot;5 km&quot;,&quot;description&quot;:&quot;Radius of core customer base around the mall in Bella Vista, Panama City&quot;},{&quot;label&quot;:&quot;Secondary Catchment Area&quot;,&quot;value&quot;:&quot;15 km&quot;,&quot;description&quot;:&quot;Extended radius including greater Panama City areas&quot;},{&quot;label&quot;:&quot;Catchment area population&quot;,&quot;value&quot;:&quot;150,000 People&quot;,&quot;description&quot;:&quot;Estimated population within primary 5-km radius, based on nearby similar plazas like Plaza Jardines&quot;},{&quot;label&quot;:&quot;Population growth rate&quot;,&quot;value&quot;:&quot;1.5&quot;,&quot;description&quot;:&quot;Annual growth rate for Panama City urban areas, 2023-2025 estimate&quot;},{&quot;label&quot;:&quot;Median age&quot;,&quot;value&quot;:&quot;30 Years&quot;,&quot;description&quot;:&quot;Median age in Bella Vista district, aligned with Panama national average&quot;},{&quot;label&quot;:&quot;Household size&quot;,&quot;value&quot;:&quot;3.2 Persons&quot;,&quot;description&quot;:&quot;Average household size in urban Panama City neighborhoods&quot;},{&quot;label&quot;:&quot;Education level (tertiary)&quot;,&quot;value&quot;:&quot;25.0&quot;,&quot;description&quot;:&quot;Percentage of population with tertiary education in Panama City districts like Bella Vista&quot;}],&quot;Economic Indicators&quot;:[{&quot;label&quot;:&quot;Median household income&quot;,&quot;value&quot;:&quot;2,500 USD per month&quot;,&quot;description&quot;:&quot;Monthly median income in affluent areas like Bella Vista, per similar mall reports&quot;},{&quot;label&quot;:&quot;Unemployment rate&quot;,&quot;value&quot;:&quot;7.2&quot;,&quot;description&quot;:&quot;Unemployment rate in Panama Province, 2025 estimate&quot;},{&quot;label&quot;:&quot;Cost of living index&quot;,&quot;value&quot;:&quot;95 Index (US=100)&quot;,&quot;description&quot;:&quot;Cost of living in Panama City, adjusted for urban retail areas&quot;}],&quot;Consumer Spending&quot;:[{&quot;label&quot;:&quot;Retail spending per capita&quot;,&quot;value&quot;:&quot;1,200 USD per year&quot;,&quot;description&quot;:&quot;Annual retail expenditure per person in Panama urban areas&quot;},{&quot;label&quot;:&quot;Spending on apparel&quot;,&quot;value&quot;:&quot;250 USD per year&quot;,&quot;description&quot;:&quot;Estimated annual per capita spending on clothing and fashion&quot;},{&quot;label&quot;:&quot;Spending on groceries&quot;,&quot;value&quot;:&quot;450 USD per year&quot;,&quot;description&quot;:&quot;Annual per capita grocery spending, influenced by nearby supermarkets&quot;},{&quot;label&quot;:&quot;Spending on electronics&quot;,&quot;value&quot;:&quot;150 USD per year&quot;,&quot;description&quot;:&quot;Per capita annual electronics purchases in Panama City&quot;}],&quot;Mall Traffic \u0026 Performance&quot;:[{&quot;label&quot;:&quot;Annual foot traffic&quot;,&quot;value&quot;:&quot;500,000 Visitors&quot;,&quot;description&quot;:&quot;Estimated yearly visitors for a small urban plaza in high-traffic Bella Vista&quot;},{&quot;label&quot;:&quot;Dwell time&quot;,&quot;value&quot;:&quot;45 Minutes&quot;,&quot;description&quot;:&quot;Average time shoppers spend in the mall, based on similar small retail centers&quot;},{&quot;label&quot;:&quot;Conversion rate&quot;,&quot;value&quot;:&quot;20.0&quot;,&quot;description&quot;:&quot;Percentage of visitors making a purchase, typical for neighborhood plazas&quot;},{&quot;label&quot;:&quot;Sales per square meter&quot;,&quot;value&quot;:&quot;800 USD per year&quot;,&quot;description&quot;:&quot;Annual sales revenue per square meter of retail space, estimated for Panama&quot;}],&quot;Competition \u0026 Tenant Mix&quot;:[{&quot;label&quot;:&quot;Number of retail stores&quot;,&quot;value&quot;:&quot;25 Stores&quot;,&quot;description&quot;:&quot;Approximate number of shops in Plaza Bella Vista, a small commercial center&quot;},{&quot;label&quot;:&quot;Anchor tenant presence&quot;,&quot;value&quot;:&quot;Yes&quot;,&quot;description&quot;:&quot;Presence of anchor like Riba Smith supermarket opposite, drawing traffic&quot;},{&quot;label&quot;:&quot;Competitor density (same category)&quot;,&quot;value&quot;:&quot;3 per km²&quot;,&quot;description&quot;:&quot;Density of similar small plazas in Bella Vista area&quot;},{&quot;label&quot;:&quot;Tenant diversity&quot;,&quot;value&quot;:&quot;Medium&quot;,&quot;description&quot;:&quot;Mix of retail, services, and food outlets in the plaza&quot;},{&quot;label&quot;:&quot;Unique Concepts&quot;,&quot;value&quot;:&quot;5 Stores&quot;,&quot;description&quot;:&quot;Number of specialty or unique retail concepts, estimated&quot;}],&quot;Real Estate \u0026 Leasing&quot;:[{&quot;label&quot;:&quot;Gross Leasable Area&quot;,&quot;value&quot;:&quot;2,500 sqm&quot;,&quot;description&quot;:&quot;Estimated total leasable retail space for the small plaza&quot;},{&quot;label&quot;:&quot;Number of Levels&quot;,&quot;value&quot;:&quot;1 Levels&quot;,&quot;description&quot;:&quot;Primarily single-level commercial space&quot;},{&quot;label&quot;:&quot;Average rent per square meter&quot;,&quot;value&quot;:&quot;15 USD per month&quot;,&quot;description&quot;:&quot;Monthly rental rate per m² in Bella Vista commercial areas&quot;},{&quot;label&quot;:&quot;Vacancy rate&quot;,&quot;value&quot;:&quot;5.0&quot;,&quot;description&quot;:&quot;Estimated vacancy in stable urban retail spaces&quot;},{&quot;label&quot;:&quot;Lease term flexibility&quot;,&quot;value&quot;:&quot;High&quot;,&quot;description&quot;:&quot;Flexible lease terms common in small Panamanian plazas&quot;},{&quot;label&quot;:&quot;Available retail space&quot;,&quot;value&quot;:&quot;500 m²&quot;,&quot;description&quot;:&quot;Current available space, based on local listings&quot;}],&quot;Accessibility \u0026 Infrastructure&quot;:[{&quot;label&quot;:&quot;Proximity to main roads&quot;,&quot;value&quot;:&quot;0.1 km&quot;,&quot;description&quot;:&quot;Direct access to Calle 45E and Via España&quot;},{&quot;label&quot;:&quot;Public transport access&quot;,&quot;value&quot;:&quot;High&quot;,&quot;description&quot;:&quot;Multiple Metrobus lines nearby, excellent connectivity&quot;},{&quot;label&quot;:&quot;Parking spaces&quot;,&quot;value&quot;:&quot;50 Spaces&quot;,&quot;description&quot;:&quot;Estimated parking for shoppers in the plaza area&quot;},{&quot;label&quot;:&quot;Pedestrian traffic&quot;,&quot;value&quot;:&quot;High&quot;,&quot;description&quot;:&quot;Busy pedestrian area in central Bella Vista&quot;}],&quot;Digital \u0026 E-commerce Trends&quot;:[{&quot;label&quot;:&quot;E-commerce competition&quot;,&quot;value&quot;:&quot;Medium&quot;,&quot;description&quot;:&quot;Growing online retail in Panama, impacting physical stores&quot;},{&quot;label&quot;:&quot;Click-and-collect adoption&quot;,&quot;value&quot;:&quot;15.0&quot;,&quot;description&quot;:&quot;Percentage of sales via click-and-collect in urban malls&quot;},{&quot;label&quot;:&quot;Internet penetration&quot;,&quot;value&quot;:&quot;85.0&quot;,&quot;description&quot;:&quot;Household internet access in Panama City, 2025&quot;}],&quot;Safety \u0026 Security&quot;:[{&quot;label&quot;:&quot;Retail crime rate&quot;,&quot;value&quot;:&quot;Low&quot;,&quot;description&quot;:&quot;Low crime in secure urban commercial zones&quot;},{&quot;label&quot;:&quot;Security measures&quot;,&quot;value&quot;:&quot;CCTV and Guards&quot;,&quot;description&quot;:&quot;Standard security with cameras and personnel&quot;}],&quot;Marketing \u0026 Events&quot;:[{&quot;label&quot;:&quot;Promotional events&quot;,&quot;value&quot;:&quot;Monthly&quot;,&quot;description&quot;:&quot;Regular promotions in neighborhood plazas&quot;},{&quot;label&quot;:&quot;Loyalty program penetration&quot;,&quot;value&quot;:&quot;10.0&quot;,&quot;description&quot;:&quot;Adoption of loyalty programs among shoppers&quot;},{&quot;label&quot;:&quot;Digital signage presence&quot;,&quot;value&quot;:&quot;Yes&quot;,&quot;description&quot;:&quot;Digital displays for advertising in the plaza&quot;}],&quot;Growth Potential&quot;:[{&quot;label&quot;:&quot;Projected foot traffic growth&quot;,&quot;value&quot;:&quot;3.0&quot;,&quot;description&quot;:&quot;Expected growth aligned with urban development&quot;},{&quot;label&quot;:&quot;New tenant pipeline&quot;,&quot;value&quot;:&quot;5 Tenants&quot;,&quot;description&quot;:&quot;Planned new stores in the coming year&quot;},{&quot;label&quot;:&quot;Mall expansion plans&quot;,&quot;value&quot;:&quot;nan&quot;,&quot;description&quot;:&quot;No major expansion for small established plaza&quot;}]}" data-map-mapbox-token-value="pk.eyJ1Ijoib2NjdXBpIiwiYSI6ImNtZXFkdHZwczBtNjIya215OWVpaGtucXoifQ.xiNo8HmyyKim2YrJ3LdqdQ" data-map-nearby-malls-value="{&quot;primary&quot;:[{&quot;id&quot;:6428,&quot;slug&quot;:&quot;multiplaza-mall&quot;,&quot;name&quot;:&quot;Multiplaza Mall&quot;,&quot;lat&quot;:&quot;8.9847493&quot;,&quot;lng&quot;:&quot;-79.5118761&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;Multiplaza Mall, located in the upscale Punta Pacifica neighborhood of Panama City, serves as a premier luxury shopping destination with approximately 100,000 square meters of gross leasable area (GLA) and over 350 retail concepts. Opened in 2007 and expanded with a dedicated Luxury Avenue wing, it positions itself as the most exclusive mall in Panama, attracting high-end international brands such as Louis Vuitton, Gucci, Ferragamo, and BOSS alongside local and regional retailers. The tenant mix emphasizes fashion (women&#39;s, men&#39;s, and accessories), fine dining at Las Terrazas food court featuring global cuisines, entertainment options including a multi-screen cinema, and essential anchors like the Riba Smith supermarket. Market reports from sources like Oxford Business Group highlight its role in introducing luxury retail to Panama, contributing to the city&#39;s growing status as a regional hub for affluent consumers. Occupancy rates remain strong at around 95%, supported by the area&#39;s economic vitality and proximity to residential towers and offices. Footfall benefits from the demographics of Punta Pacifica, home to high-income professionals, expatriates, and tourists, with annual visitors estimated in the millions. Accessibility is enhanced by connections to major roads like Via Brasil, though traffic congestion poses challenges. Rent levels are premium, ranging from $40 to $80 per square meter monthly, reflecting the high-value tenant mix but potentially deterring mid-tier retailers. Leasing advantages include robust marketing support, events like fashion weeks, and free Wi-Fi, fostering high sales per square foot. However, risks involve economic sensitivity in luxury segments, competition from larger venues like Albrook Mall, and occasional infrastructure strains in the densely populated district. Overall, it offers stable performance for brands targeting upscale demographics amid Panama&#39;s retail market growth projected at 4-5% annually through 2025.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Gucci, Dolce \u0026 Gabbana, Hermes, Louis Vuitton, Chanel, Riba Smith, Cinepolis&quot;,&quot;distance&quot;:0.55,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;190&quot;,&quot;gla_sqm&quot;:&quot;50000&quot;,&quot;anchor_tenants&quot;:&quot;Gucci, Dolce \u0026 Gabbana, Hermes, Louis Vuitton, Chanel, Riba Smith, Cinepolis&quot;}},{&quot;id&quot;:6375,&quot;slug&quot;:&quot;plaza-agora-transistmica&quot;,&quot;name&quot;:&quot;Plaza Agora Transistmica&quot;,&quot;lat&quot;:&quot;9.0101055&quot;,&quot;lng&quot;:&quot;-79.5173246&quot;,&quot;property_type&quot;:&quot;Shopping Centre&quot;,&quot;description&quot;:&quot;Plaza Agora Transistmica is a commercial center located along Via Transistmica in Panama Citys Pueblo Nuevo corregimiento, offering approximately 12,000 square meters of net rentable area. Acquired by the Libra Group in 2009, it functions primarily as a business hub with a mix of office and retail spaces, catering to local professionals and commuters. The tenant mix includes financial institutions like Scotiabank, call centers such as NARS, and smaller retail outlets, providing essential services rather than luxury shopping. In Panamas robust retail market, which saw moderate growth in 2024-2025 with rising consumer health sales and e-commerce integration, this property holds a neighborhood position, benefiting from high traffic on the Transistmica highway but overshadowed by larger malls like Albrook Mall with over 300,000 square meters GLA and millions in annual footfall. Accessibility is strong via major roads and proximity to metro line 1 construction areas, though ongoing highway rehabilitation may cause temporary disruptions. Occupancy levels appear stable based on long-term leases, with recent 2025 listings showing spaces available for sale at around $1,083 per square meter for 300-square-meter units including parking. Leasing advantages include competitive rents estimated at $15-25 per square meter monthly in secondary markets, targeted demographics of middle-income workers aged 25-45 in urban Panama, and lower competition in niche services compared to saturated prime malls. However, challenges include aging infrastructure from the 2000s build, vulnerability to economic fluctuations in the logistics-heavy Transistmica corridor, and limited draw for high-end retail due to the functional tenant profile. Market reports from Euromonitor indicate Panamas retail sector resilience, but smaller centers like this face pressure from online shifts and major anchors elsewhere.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;NARS, Scotiabank&quot;,&quot;distance&quot;:2.98,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;80&quot;,&quot;gla_sqm&quot;:&quot;12000&quot;,&quot;anchor_tenants&quot;:&quot;NARS, Scotiabank&quot;}},{&quot;id&quot;:6690,&quot;slug&quot;:&quot;plaza-la-cosecha&quot;,&quot;name&quot;:&quot;Plaza La Cosecha&quot;,&quot;lat&quot;:&quot;8.9984493&quot;,&quot;lng&quot;:&quot;-79.532989&quot;,&quot;property_type&quot;:&quot;Shopping Centre&quot;,&quot;description&quot;:&quot;Plaza La Cosecha is a modest neighborhood retail center located in Panama City, Panama, catering primarily to local residents in a mid-density urban area. Opened around 2024 based on commercial registrations, it features approximately 20-30 units across ground and upper levels, focusing on everyday essentials rather than luxury retail. The property spans about 5,000-7,000 square meters, with anchor tenants likely including a small supermarket, pharmacy, and basic apparel stores. Tenant mix emphasizes convenience-oriented businesses such as food services, personal care, and local services, with limited international brands. Market position is that of a community hub rather than a destination mall, benefiting from proximity to residential neighborhoods and basic accessibility via local roads. Footfall estimates around 2,000-4,000 daily visitors, driven by nearby demographics of middle-income families. Occupancy rates hover at 80-90%, typical for secondary retail in Panama&#39;s saturated market. Rent levels range from $15-25 per square meter monthly, lower than prime malls like Multiplaza ($40+), offering affordability for startups. Advantages include lower competition from mega-malls and stable local demand, but challenges involve limited parking (200-300 spaces) and dependence on foot traffic without major draws. Contextual factors: Panama&#39;s retail sector grew 4-5% annually pre-2025, per CBRE reports, but secondary properties face pressure from e-commerce and economic volatility tied to canal traffic. Overall, suitable for lessees targeting everyday retail with moderate risk.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith, MultiCines&quot;,&quot;distance&quot;:2.46,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;40&quot;,&quot;gla_sqm&quot;:&quot;15000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith, MultiCines&quot;}},{&quot;id&quot;:7104,&quot;slug&quot;:&quot;plaza-las-mercedes&quot;,&quot;name&quot;:&quot;Plaza Las Mercedes&quot;,&quot;lat&quot;:&quot;9.0058705&quot;,&quot;lng&quot;:&quot;-79.5336553&quot;,&quot;property_type&quot;:&quot;Convenience&quot;,&quot;description&quot;:&quot;Plaza Las Mercedes is a neighborhood shopping center located in the Betania district of Panama City, serving the local residential community in a middle-income area. Opened in the early 2000s, it spans approximately 10,000 square meters with around 40 tenants, focusing on everyday retail needs. The tenant mix includes a supermarket anchor such as Super99 or Riba Smith, pharmacies like Metro or Fisa, local clothing and shoe stores, a few casual dining options including fast food chains, and services like banks and beauty salons. Occupancy stands at about 88 percent as of late 2024, slightly below the Panama City average of 92 percent for similar properties, reflecting stable but not exceptional demand. Footfall is estimated at 5,000 to 7,000 visitors daily, driven by proximity to residential neighborhoods and limited draw from tourists. Accessibility is good via major roads like Vía España, with ample parking for 200 vehicles, though public transport options are moderate with nearby bus stops. Rent levels range from $18 to $25 per square meter per month for ground-floor spaces, competitive for local plazas but lower than upscale malls like Multiplaza at $30 plus. The market position is as a convenience-oriented center, benefiting from low vacancy risks in a growing urban area, but facing challenges from e-commerce expansion projected to reach $1.83 billion by 2025 and competition from larger regional malls. Demographic profile includes families with average household incomes of $1,500 to $2,500 monthly, with strong demand for groceries and essentials. Operational quality is adequate, with modern but aging infrastructure requiring occasional maintenance. Leasing advantages include flexible terms for small retailers and proximity to 100,000 residents within a 3-kilometer radius. Drawbacks involve limited anchor power and potential saturation in basic retail categories amid broader retail evolution toward sustainability and digital integration.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Farmacia Metro&quot;,&quot;distance&quot;:3.13,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;45&quot;,&quot;gla_sqm&quot;:&quot;800&quot;,&quot;anchor_tenants&quot;:&quot;Farmacia Metro&quot;}},{&quot;id&quot;:7101,&quot;slug&quot;:&quot;plaza-york&quot;,&quot;name&quot;:&quot;Plaza York&quot;,&quot;lat&quot;:&quot;8.9833&quot;,&quot;lng&quot;:&quot;-79.5199&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;Plaza York is a mid-sized shopping center in Panama City, Panama, with 30,000 sqm of gross leasable area across two levels and 80 stores. Opened in 2008 under ownership of Panama Retail Group, it occupies a medium market position amid high competition density of three malls per square kilometer. Tenant mix rates high, anchored by Riba Smith supermarket and Cinemark cinema, encompassing fashion, dining (drawing 35% of visitors), general shopping (40%), and home decor (25%). Suggested enhancements include trendy clothing, sustainable brands, international cuisine, and family play areas to align with consumer preferences. Occupancy approximates 95% with vacancy at 5%, bolstered by 5 million annual visitors or 416,667 monthly, 1.5-hour average dwell time, and 20% conversion rate. Accessibility features good public transport access within 1 km and 1,000 parking spaces at medium capacity, though overall infrastructure is medium. Catchment within 5 km covers 500,000 residents, average age 32, household size 3.2, 1.5% yearly growth, $15,000 average income, and 7% unemployment. Rent averages $20 per sqm monthly. Leasing benefits encompass robust footfall and 5% annual growth potential, yet hurdles include low safety protocols, 30% e-commerce penetration, and medium operational quality in a market with GDP per capita at 65% of U.S. levels.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith, Cinemark&quot;,&quot;distance&quot;:0.35,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;80&quot;,&quot;gla_sqm&quot;:&quot;18000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith, Cinemark&quot;}},{&quot;id&quot;:8243,&quot;slug&quot;:&quot;plaza-almendros&quot;,&quot;name&quot;:&quot;Plaza Almendros&quot;,&quot;lat&quot;:&quot;8.9833&quot;,&quot;lng&quot;:&quot;-79.5199&quot;,&quot;property_type&quot;:&quot;Shopping Centre&quot;,&quot;description&quot;:&quot;Plaza Almendros is a modest neighborhood shopping plaza situated in the Juan Diaz district of Panama City, Panama, catering primarily to local residents in a densely populated urban area. Established around 2000, the property covers approximately 8,000 square meters with around 25 retail units, including ground-floor shops and some upper-level offices. The tenant mix features essential retailers such as a mid-sized supermarket (e.g., similar to Super 99 or local chains), a pharmacy, convenience stores, basic apparel outlets, fast-food eateries, and service providers like laundromats and small clinics. It positions itself as a convenient daily needs destination rather than a regional draw, benefiting from proximity to residential neighborhoods and lacking the scale of major competitors like Albrook Mall or Multiplaza Pacific. Leasing advantages include relatively affordable base rents ranging from $15 to $25 per square meter per month, flexible lease terms (typically 3-5 years), and inclusion of common area maintenance (CAM) fees around $5 per sqm. Accessibility is supported by nearby public bus routes and ample parking for 100 vehicles, though heavy traffic on surrounding roads can impact peak-hour visits. The plaza maintains an occupancy rate of about 82% according to recent commercial real estate reports from Colliers International Panama, with stable operational quality but signs of aging infrastructure such as outdated HVAC systems and basic facade maintenance. Demographic profile includes middle-lower income families (average household income $700-1,000 monthly), young professionals, and a diverse ethnic mix reflective of Panamas urban population. Market factors show steady local demand for everyday goods amid Panamas growing retail sector, valued at over $5 billion annually, but challenges arise from market saturation in grocery and pharmacy categories, increasing e-commerce penetration (up 20% post-2020), and economic volatility tied to the Panama Canal and tourism. Overall, it offers practical leasing for small-format retailers seeking community footfall without high entry costs, though risks include limited expansion potential and vulnerability to nearby larger centers drawing away discretionary spending.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith, Cinemark&quot;,&quot;distance&quot;:0.35,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;60&quot;,&quot;gla_sqm&quot;:&quot;12000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith, Cinemark&quot;}},{&quot;id&quot;:6672,&quot;slug&quot;:&quot;plaza-cincuentenario&quot;,&quot;name&quot;:&quot;Plaza Cincuentenario&quot;,&quot;lat&quot;:&quot;8.9833&quot;,&quot;lng&quot;:&quot;-79.5183&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Plaza Cincuentenario, on Vía Cincuentenario in Coco del Mar, Panama City, is a 45,000 sqm neighborhood mall with 60 units across 3 levels. It targets upper-middle-income locals (avg. income $5,000+/month), expats, and families in a 15,000-resident area growing 4% annually. Tenant mix emphasizes convenience: anchors Banistmo, Papa John&#39;s; dining like 50 Millas; apparel, services. Occupancy \u003e90% vs. city 8% vacancy. Footfall: 1,500 daily, 2.5M yearly. Rents $20-27/sqm/month incl. maintenance; 3-5yr leases, 2-4% escalations—lower than Multiplaza&#39;s $15-20+. Accessibility: 100 parking spots, major road links, but peak traffic issues. Modern build (2015-2019) with efficient systems. Strong local position, but competes with Multiplaza 3km away. Advantages: high demand, targeted demo, affordable leasing for 100-150 sqm spaces. Risks: economic fluctuations, limited support, competition in dining/services.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Banistmo, Papa John&#39;s&quot;,&quot;distance&quot;:0.18,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;60&quot;,&quot;gla_sqm&quot;:&quot;4000&quot;,&quot;anchor_tenants&quot;:&quot;Banistmo, Papa John&#39;s&quot;}},{&quot;id&quot;:6367,&quot;slug&quot;:&quot;el-dorado-mall&quot;,&quot;name&quot;:&quot;El Dorado Mall&quot;,&quot;lat&quot;:&quot;9.0095409&quot;,&quot;lng&quot;:&quot;-79.5345495&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;El Dorado Mall, located in the El Dorado neighborhood of Panama City, Panama, serves as a community-oriented retail center in a hybrid residential-commercial district near the Metropolitan National Park and known as the citys second Chinatown. Built in 1976 and spanning approximately 50,000 square meters of gross leasable area across three levels, it features 250 stores, 20 restaurants, a food court, and entertainment options including a Cinemark cinema and bowling alley. Anchor tenants such as Riba Smith Supermarket drive 60% of traffic, focusing on everyday essentials alongside categories like electronics, apparel, services, and casual dining. Occupancy stands at 85%, with ground and lower levels nearly fully utilized while upper floors exhibit 20-30% vacancies following recent renovations that improved accessibility with ramps and a new parking garage accommodating 1,619 vehicles. Monthly footfall averages 333,333 visitors, supported by a 5 km radius demographic of 1.2 million people, average age 30.3 years, household size 3.2, and 1.3% annual population growth, primarily middle-class families, young professionals, and expats. In Panama Citys saturated market with over 20 major malls and 3 per 100,000 residents, El Dorado positions as a mid-tier, affordable option with stable 3-5% growth, offering leasing advantages for budget-conscious retailers in underserved upper-floor spaces at rents around 25 USD per square meter monthly, though challenges include aging infrastructure and competition from upscale venues like Multiplaza and Albrook.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith Supermarket, Cinemark, Various Retail Brands&quot;,&quot;distance&quot;:3.52,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;250&quot;,&quot;gla_sqm&quot;:&quot;20000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith Supermarket, Cinemark, Various Retail Brands&quot;}},{&quot;id&quot;:6405,&quot;slug&quot;:&quot;excel-mall-panama&quot;,&quot;name&quot;:&quot;Excel Mall Panama&quot;,&quot;lat&quot;:&quot;8.9825008&quot;,&quot;lng&quot;:&quot;-79.5198573&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;Excel Mall Panama, located in central Panamá City, is a mid-tier shopping mall established in 2002 and owned by Grupo Los Pueblos. It features 45,000 square meters of gross leasable area across 3 levels, hosting around 100 stores. The tenant mix is balanced: 50% fashion and accessories with mid-tier brands like Mango, Pull\u0026Bear, and Bershka; 25% food and beverage including a food court with 15 outlets offering Panamanian cuisine and chains like Subway; 15% services such as banks and clinics; 10% entertainment. Anchor tenants include Riba Smith Supermarket (5,000 sqm), El Rey Supermarket, and Cinemark Theaters. Occupancy rate is 90%, with market-wide retail at 95%, though fashion vacancies are 12% due to category weakness. Daily footfall averages 7,500, rising to 12,000 on weekends, with 5 million annual visitors and 120-minute dwell time. The trade area serves 150,000 middle-class residents (ages 25-44, median income $2,200 monthly) in urban neighborhoods, with 500,000 within 5 km. Accessibility via major avenues and Metro Line 1 (1 km away) is strong, supported by 1,200 parking spaces, but congestion and rainy season issues persist. In Panamas retail market, growing 4.2% in 2023 and 4% in 2024 below regional averages due to trade disruptions, Excel positions as value-oriented amid competition from Multiplaza Pacific and Albrook Mall. Rents average $24 per sqm monthly ($20-28 range), below city $30 average, with flexible 3-5 year leases, 5-10% CPI escalations, pop-up opportunities, and co-marketing benefits. Operational quality is fair post-$2 million renovations addressing aging infrastructure, but risks include economic volatility from Panama Canal dependencies and 25% e-commerce penetration.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith Supermarket, Cinemark Theaters, El Rey Supermarket&quot;,&quot;distance&quot;:0.36,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;100&quot;,&quot;gla_sqm&quot;:&quot;380000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith Supermarket, Cinemark Theaters, El Rey Supermarket&quot;}},{&quot;id&quot;:8358,&quot;slug&quot;:&quot;gran-morrison-via-espana&quot;,&quot;name&quot;:&quot;Gran Morrison Via España&quot;,&quot;lat&quot;:&quot;8.983&quot;,&quot;lng&quot;:&quot;-79.51&quot;,&quot;property_type&quot;:&quot;Retail&quot;,&quot;description&quot;:&quot;Gran Morrison Via España is a prominent department store and retail property situated on one of Panama Citys three primary commercial corridors, Via España, in the Pueblo Nuevo district. This location spans approximately 2,000 square meters of leasable space, focusing on variety retail including books, art supplies, stationery, souvenirs, indigenous crafts, clothing, toys, and home goods, catering to both locals and tourists. The property benefits from its central urban position, with high visibility along a busy thoroughfare that sees thousands of vehicles and pedestrians daily. Market position is strong within the mid-tier retail segment, supported by Panama Citys economic stability and growing middle class, though it faces challenges from larger enclosed malls and e-commerce. Tenant mix includes the anchor Gran Morrison store alongside complementary small shops and services in the vicinity, such as supermarkets and fast food outlets. Leasing advantages include direct access to public transport via the nearby Iglesia del Carmen metro station on Line 1, reducing reliance on personal vehicles and enhancing footfall. Operational quality is solid, with modern interiors and air-conditioned spaces, but the open-street format exposes it to weather variability. Contextual factors include Panamas retail sector recovery post-pandemic, with overall occupancy rates around 85-90% in similar corridor properties per 2025 Colliers reports, though saturation in general merchandise categories poses risks. Accessibility is excellent, with proximity to banking districts and residential areas, drawing a diverse demographic of professionals aged 25-55 with moderate to high disposable income. Potential drawbacks involve competition from upscale developments like Soho Mall and economic sensitivities tied to logistics disruptions in the canal region. Overall, it offers balanced leasing potential for niche retailers seeking high-traffic exposure without mall overheads, with average footfall estimated at 4,000-6,000 visitors daily based on urban retail benchmarks.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Gran Morrison&quot;,&quot;distance&quot;:0.74,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;15&quot;,&quot;gla_sqm&quot;:&quot;4500&quot;,&quot;anchor_tenants&quot;:&quot;Gran Morrison&quot;}},{&quot;id&quot;:7133,&quot;slug&quot;:&quot;villa-fontana&quot;,&quot;name&quot;:&quot;Villa Fontana&quot;,&quot;lat&quot;:&quot;8.9523666&quot;,&quot;lng&quot;:&quot;-79.533494&quot;,&quot;property_type&quot;:&quot;Shopping Centre&quot;,&quot;description&quot;:&quot;Villa Fontana, situated in Panama Citys Casco Antiguo, a UNESCO World Heritage site, represents a boutique mixed-use development blending residential apartasuites with limited ground-floor commercial spaces for retail leasing. The propertys market position capitalizes on the districts revitalization as a cultural and tourist hub, attracting over 1 million visitors annually according to tourism board data. Tenant mix emphasizes niche operators such as artisan boutiques, cafes, galleries, and lifestyle stores, complementing the areas vibrant scene of restaurants and bars. Leasing advantages include high visibility from pedestrian traffic, flexible short-term options for pop-ups, and proximity to attractions like the Cinta Costera and Mercado de Mariscos, enhancing accessibility for walk-in customers. Retail rents average $28 per square meter monthly, with occupancy rates holding steady at 85-90 percent amid Panamas growing economy. Demographics skew toward affluent tourists aged 25-55, expats, and creative professionals, driving demand for unique, experience-based offerings rather than commoditized goods. Footfall benefits from the neighborhoods walkability and events, though limited parking poses challenges. Operational quality features modern interiors within historic shells, but aging infrastructure requires vigilant maintenance. Potential drawbacks encompass seasonal tourism fluctuations, competition from larger malls like Multiplaza, and preservation regulations restricting facade alterations. Overall, it suits retailers targeting cultural enthusiasts, with risks balanced by the areas upward trajectory in visitor spending, reported at $50 average per shopper in district analyses.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith, Farmacia Arrocha, Cinemark&quot;,&quot;distance&quot;:3.9,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;85&quot;,&quot;gla_sqm&quot;:&quot;12000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith, Farmacia Arrocha, Cinemark&quot;}},{&quot;id&quot;:6416,&quot;slug&quot;:&quot;plaza-paitilla&quot;,&quot;name&quot;:&quot;Plaza Paitilla&quot;,&quot;lat&quot;:&quot;8.9749725&quot;,&quot;lng&quot;:&quot;-79.5139718&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;Plaza Paitilla is a mid-tier commercial center in Panama Citys upscale Punta Paitilla neighborhood at the end of Balboa Avenue, built in 1975 with 15,000 sqm gross leasable area across 3 levels, connected to the 14-story RBS Tower. The tenant mix comprises approximately 40 stores focused on everyday essentials and professional services, including supermarkets, restaurants, coffee shops, pet stores, spas, banks, law firms, real estate agencies, and tech startups, serving local affluent residents. Occupancy rates stand at 85-90%, with average monthly rents of $20-30 per sqm for retail spaces and $25-35 for offices, including utilities and parking, subject to 3-5% inflation escalations. Footfall averages 83,333 monthly visitors, equating to about 1 million annually, drawn primarily from a 5 km radius catchment of 150,000 people with median household incomes exceeding $50,000, average age 35, and 60% middle-upper class professionals in finance and logistics. Accessibility benefits from nearby Multicentro bus stop, Corredor Sur toll road, and 300 parking spaces, though Balboa Avenue congestion poses challenges during peak hours. In Panamas stable economy with 6% GDP growth, the mall holds a solid market position as a neighborhood hub for niche retail and services, offering leasing advantages like flexible short-term options, quick setups without hidden fees, fiber-optic connectivity, and clauses for footfall guarantees. However, it lacks entertainment anchors, limiting broader appeal, and faces risks from aging infrastructure requiring updates and intense competition from larger adjacent malls.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith, Cinemark, Multiplaza&quot;,&quot;distance&quot;:0.97,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;40&quot;,&quot;gla_sqm&quot;:&quot;18000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith, Cinemark, Multiplaza&quot;}},{&quot;id&quot;:7100,&quot;slug&quot;:&quot;plaza-virginia&quot;,&quot;name&quot;:&quot;Plaza Virginia&quot;,&quot;lat&quot;:&quot;8.9667&quot;,&quot;lng&quot;:&quot;-79.4833&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Plaza Virginia is a mid-sized community shopping center in the Virginia neighborhood of Panama City, Panama, spanning about 15,000 square meters of gross leasable area. Opened in the early 2000s, it caters primarily to local residents with a balanced tenant mix including a major supermarket anchor (Riba Smith), pharmacy (Farmacias Arrocha), apparel stores (such as local brands and mid-tier international like Pull\u0026Bear), electronics outlets, and a variety of quick-service restaurants and cafes. Occupancy stands at approximately 87% as of late 2023, according to commercial real estate reports from Cushman \u0026 Wakefield Panama, reflecting stable demand in the residential area. The center benefits from its strategic location near residential developments and schools, with daily footfall estimated at 4,000-6,000 visitors, driven by convenience shopping rather than destination retail. Rent levels range from $25 to $40 per square meter monthly, offering competitive pricing compared to premium malls like Multiplaza ($50+ psm). Accessibility is facilitated by proximity to the Transistmica corridor and Tumba Muerto avenue, though traffic congestion during peak hours poses challenges. The demographic profile includes middle-income families (average household income $1,800-$3,000 monthly) aged 25-50, with a population density of over 50,000 within a 3 km radius. Leasing advantages encompass flexible terms (3-5 years with renewal options), promotional support from management, and low turnover due to loyal local patronage. However, drawbacks include limited entertainment options, aging infrastructure requiring periodic maintenance, and competition from nearby larger centers like Albrook Mall, which draw regional traffic. Market factors show Panama&#39;s retail sector growing at 3-4% annually, supported by urban expansion, but vulnerable to inflation and logistics disruptions via the Canal. Overall, it suits retailers targeting everyday essentials and local services, with risks from market saturation in grocery and pharmacy categories.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith, Cinema&quot;,&quot;distance&quot;:4.11,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;80&quot;,&quot;gla_sqm&quot;:&quot;12000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith, Cinema&quot;}},{&quot;id&quot;:8204,&quot;slug&quot;:&quot;agora-mall-1&quot;,&quot;name&quot;:&quot;Agora Mall&quot;,&quot;lat&quot;:&quot;9.01&quot;,&quot;lng&quot;:&quot;-79.5172&quot;,&quot;property_type&quot;:&quot;Shopping Centre&quot;,&quot;description&quot;:&quot;Agora Mall, situated in the Chanis neighborhood of Parque Lefevre in Panama City, spans 8,000 square meters of gross leasable area over two levels and was constructed in 2016 by owner FCA Group. It functions as a mid-tier community shopping center with robust accessibility through proximity to Via Transistmica, public transport including nearby Metro stations, and more than 500 parking spaces, though peak-hour traffic congestion presents occasional challenges. The tenant mix prioritizes convenience-oriented retail, featuring anchor supermarkets such as Super Xtra and Supermercados Rey, casual dining like McDonald&#39;s, a Smart Fit gym, pharmacies, apparel outlets, electronics retailers, and local eateries, comprising 15 stores with high diversity and 40 percent allocated to food and beverage categories. Occupancy remains steady at 85-90 percent, bolstered by daily footfall estimates of 5,000 to 7,000 visitors, drawn mainly from local residents rather than tourists, with weekday boosts from adjacent office areas. Rent levels range from $8 to $12 per square meter monthly, positioning it competitively below premium venues like Multiplaza at $15-20 per square meter, while including common area maintenance fees of 15-20 percent of gross rent. The primary catchment area within 5 kilometers encompasses 150,000 residents, characterized by middle-income households with median ages around 32 years and monthly incomes of $1,500 to $2,500, supporting consistent spending on essentials and casual services. In Panama City&#39;s retail landscape, which experiences 4-5 percent annual growth per CBRE reports, Agora Mall holds a niche in neighborhood formats amid market saturation in convenience sectors, offering leasing advantages through flexible 3-5 year terms, pop-up opportunities, and low turnover for small to medium retailers, yet it contends with economic volatility in middle-class demographics and rising utility costs.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Various retail brands including supermarkets and fashion outlets&quot;,&quot;distance&quot;:2.97,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;15&quot;,&quot;gla_sqm&quot;:&quot;8000&quot;,&quot;anchor_tenants&quot;:&quot;Various retail brands including supermarkets and fashion outlets&quot;}},{&quot;id&quot;:6426,&quot;slug&quot;:&quot;plaza-concordia-2&quot;,&quot;name&quot;:&quot;Plaza Concordia&quot;,&quot;lat&quot;:&quot;8.984679&quot;,&quot;lng&quot;:&quot;-79.525998&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;Plaza Concordia is a compact, established shopping center located on Vía España in the El Cangrejo neighborhood of Panama City. Opened decades ago, it occupies a prime spot in a bustling commercial corridor known for its mix of local businesses, hotels, and banking institutions. The property spans approximately 10,000 square meters with multiple levels, offering around 50-60 retail units primarily focused on everyday consumer needs. Tenant mix includes technology repair and accessory shops like SMT Company PTY, pharmacies, casual dining options, a weekday foodcourt, coffee outlets such as Duran Coffee Store, and service providers like Western Union. Occupancy rates hover around 85-90% based on recent listings of available spaces, with some units marketed for sale or lease. Rent levels in this older facility range from $15-25 per square meter monthly, lower than newer luxury malls, providing cost-effective entry for small retailers. Market position benefits from high visibility on a major thoroughfare, attracting a diverse footfall of local residents, office workers, and expats. Leasing advantages include flexible terms for short-term pop-ups, proximity to metro stations (Iglesia del Carmen 270 meters away), and a stable demographic draw. However, aging infrastructure may require tenant investments in fit-outs, and competition from larger centers like Multiplaza impacts premium category performance. Overall, it suits budget-conscious operators targeting convenience-driven categories amid Panama City&#39;s retail saturation in fashion and luxury segments.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Pharmacy, local clothing stores, restaurants&quot;,&quot;distance&quot;:1.03,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;50&quot;,&quot;gla_sqm&quot;:&quot;12000&quot;,&quot;anchor_tenants&quot;:&quot;Pharmacy, local clothing stores, restaurants&quot;}},{&quot;id&quot;:7330,&quot;slug&quot;:&quot;plaza-herrera&quot;,&quot;name&quot;:&quot;Plaza Herrera&quot;,&quot;lat&quot;:&quot;8.9519594&quot;,&quot;lng&quot;:&quot;-79.536772&quot;,&quot;property_type&quot;:&quot;Mixed-Use&quot;,&quot;description&quot;:&quot;Plaza Herrera is a historic public square in the heart of Casco Viejo, Panama Citys UNESCO World Heritage site, functioning as an open-air commercial hub rather than a traditional enclosed mall. Surrounded by colonial-era buildings, it features a mix of boutique shops, art galleries, cafes, restaurants, and occasional pop-up vendors catering to tourists and locals. The areas revitalization since the early 2000s has boosted its appeal, with footfall driven by cultural events, street performances, and proximity to landmarks like the Panama Cathedral and National Theater. Tenant mix emphasizes experiential retail: artisanal crafts, souvenirs, gourmet food outlets, and lifestyle brands, avoiding large chains to preserve historic charm. Occupancy hovers around 80-85 percent based on recent listings, with several ground-floor spaces available for lease. Rent levels range from $15 to $25 per square meter monthly, competitive for a prime tourist zone but higher than suburban malls due to location premium. Accessibility is strong via pedestrian walkways, the Albrook Metro line (Line 1 station nearby), and taxi services, though narrow streets limit vehicle access. Market position is niche: tourism-dependent, benefiting from Panamas 2.5 million annual visitors, yet vulnerable to economic fluctuations affecting travel. Strengths include authentic ambiance fostering high dwell time and social media buzz; drawbacks encompass regulatory restrictions on modifications, seasonal dips in footfall during rainy season (May-December), and competition from nearby modern retail in Costa del Este. Overall, it suits retailers targeting affluent tourists and expats seeking unique, Instagram-worthy spaces, with average sales per square meter estimated at $200-300 monthly from tourism reports.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Banistmo, American Trade Hotel, local restaurants, cafes&quot;,&quot;distance&quot;:4.12,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;20&quot;,&quot;gla_sqm&quot;:&quot;1200&quot;,&quot;anchor_tenants&quot;:&quot;Banistmo, American Trade Hotel, local restaurants, cafes&quot;}},{&quot;id&quot;:7582,&quot;slug&quot;:&quot;plaza-via-espana&quot;,&quot;name&quot;:&quot;Plaza Via España&quot;,&quot;lat&quot;:&quot;8.98652&quot;,&quot;lng&quot;:&quot;-79.52348&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Plaza Via España, also known as World Wide Plaza, is a mixed-use development in the Obarrio neighborhood of Panama City, Panama, combining residential apartments and commercial spaces. Built in 2005, it features a gross leasable area of 12,000 square meters across two levels with 45 stores, targeting neighborhood-oriented retail for small to medium businesses such as boutiques, cafes, and services. Anchor tenants include Riba Smith supermarket, local retailers, and pharmacies, creating a tenant mix focused on everyday needs with categories in fashion, food and beverage, health, and professional services. The property offers 200 to 250 parking spaces, modern amenities like elevators, backup power, and CCTV security. Located on the bustling Via España thoroughfare in the banking and commercial district, it benefits from high visibility and proximity to the Via Argentina metro station (590 meters away) on Line 1, enhancing accessibility via public transport and major roads. Panama Citys retail market, valued at over $5 billion, experiences 4-5 percent annual growth driven by tourism, logistics from the Panama Canal, and urban development, with citywide mall occupancy averaging 90 percent and vacancy at 5-7 percent. Plaza Via España holds a niche position in the upper-middle-class Obarrio and El Cangrejo areas, serving a population of 800,000 within 5 kilometers, including young professionals aged 25-40, expats, and families with household incomes exceeding $3,000 monthly. Leasing advantages include flexible terms for spaces from 20 to 800 square meters, cost-effective base rents of $15-25 per square meter monthly under triple-net structures (average $22), below the city average of $30 for prime locations, with 3-5 year durations, renewal options, and percentage rent clauses (5-8 percent of sales). Common area maintenance fees are approximately $5 per square meter, with up to 20 percent fit-out allowances for startups and pop-ups. Operational quality is supported by 12 annual marketing events and a 15 percent budget allocation to counter e-commerce trends (20 percent penetration). However, challenges include traffic congestion during peak hours, potential renovation needs ($10,000-20,000), and market saturation in fashion categories. The propertys moderate footfall of 5,000-7,000 daily visitors (1.2 million annually) peaks at lunch and evenings, driven by office commuters and university proximity, with 45-minute dwell times and 25 percent conversion rates, yielding $4,800 average transaction values. Overall, it provides stable opportunities for convenience retail amid Panamas 5.2 percent economic growth in early 2025, though retailers should negotiate co-tenancy clauses and assess digital integration for 10-15 percent sales potential.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith, Local Retailers, Pharmacies&quot;,&quot;distance&quot;:0.83,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;45&quot;,&quot;gla_sqm&quot;:&quot;4000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith, Local Retailers, Pharmacies&quot;}},{&quot;id&quot;:7138,&quot;slug&quot;:&quot;plaza-florida&quot;,&quot;name&quot;:&quot;Plaza Florida&quot;,&quot;lat&quot;:&quot;9.0014711&quot;,&quot;lng&quot;:&quot;-79.5233337&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Plaza Florida is a compact commercial plaza located in the Marbella district of Panama City, Panama, within the bustling banking and business corridor near Calle 50. This urban retail hub spans approximately 5,000 square meters across multiple levels, featuring a mix of small to medium-sized tenants focused on fashion, beauty, fabrics, and specialty retail. Key anchors include boutique clothing stores like Flamingo Flamingo and Pink Lab Beauty, fabric suppliers such as Couture Fabrics, and various independent shops offering accessories and personal care products. The tenant mix emphasizes niche, local brands catering to fashion-conscious consumers, with limited food and beverage options, primarily small cafes. Positioned in a high-traffic area with proximity to major offices, hotels like Riu Plaza, and larger malls such as Multiplaza Pacific (1.5 km away), Plaza Florida benefits from strong visibility and accessibility via major avenues like Via Espana. Footfall is estimated at 2,000-3,000 daily visitors, driven by office workers and nearby residents, though it lags behind mega-malls due to its smaller scale. Occupancy rates hover around 85-90%, supported by competitive rents averaging $25-35 per square meter monthly, lower than premium malls but reflective of the area&#39;s desirability. Leasing advantages include flexible short-term options for pop-ups and small businesses, quick access to affluent demographics, and lower operational costs compared to enclosed malls. However, challenges include limited parking (about 100 spaces), competition from e-commerce and larger retail centers, and vulnerability to economic fluctuations in the financial sector. Market reports from Colliers International Panama (2024) highlight Marbella&#39;s retail vacancy at 12%, with steady demand for boutique spaces amid post-pandemic recovery. Overall, Plaza Florida suits emerging retailers seeking targeted exposure in a vibrant urban setting without the high barriers of flagship malls.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Local stores&quot;,&quot;distance&quot;:2.15,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;40&quot;,&quot;gla_sqm&quot;:&quot;4000&quot;,&quot;anchor_tenants&quot;:&quot;Local stores&quot;}},{&quot;id&quot;:6671,&quot;slug&quot;:&quot;plaza-van-gogh&quot;,&quot;name&quot;:&quot;Plaza Van Gogh&quot;,&quot;lat&quot;:&quot;8.978&quot;,&quot;lng&quot;:&quot;-79.515&quot;,&quot;property_type&quot;:&quot;Mixed-Use&quot;,&quot;description&quot;:&quot;Plaza Van Gogh is a modest neighborhood shopping center in the city of Panamá, positioned in a residential district known for its middle-class communities. Opened in the early 2000s, it spans approximately 5,000 square meters with around 20 retail units, focusing on everyday essentials rather than luxury or entertainment. The tenant mix includes supermarkets like a local Mini Super, pharmacies such as Farmacias Arrocha, clothing boutiques, and casual dining options, achieving an occupancy rate of about 82% based on 2024 commercial real estate data from Cushman \u0026 Wakefield. Rent levels remain affordable at $18-25 per square meter monthly, appealing to independent operators. Accessibility relies on Via España and nearby streets, with public transport options but only 50 parking spaces, which can lead to congestion during evenings. Footfall averages 400-600 daily visitors, drawn from a 2km radius demographic of 15,000 residents with median household incomes of $1,200-$1,800, per INEC Panama statistics. The plaza holds a niche market position in a competitive landscape dominated by giants like Albrook Mall (over 500 stores) and Multiplaza Pacific, where retail sales per square meter reach $8,000 annually versus Plaza Van Goghs estimated $4,500. Advantages include lower operational costs and community loyalty, fostering repeat business for grocery and service tenants. Drawbacks encompass limited draw for tourists or high-traffic events, aging infrastructure with occasional maintenance issues reported in local directories, and vulnerability to economic slowdowns-Panama retail sector growth slowed to 3% in 2024 amid inflation pressures, according to Euromonitor reports. Overall, it suits small-format retailers targeting local needs but requires careful evaluation of competition from e-commerce and nearby strip centers.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Local Shops&quot;,&quot;distance&quot;:0.62,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;120&quot;,&quot;gla_sqm&quot;:&quot;5000&quot;,&quot;anchor_tenants&quot;:&quot;Local Shops&quot;}},{&quot;id&quot;:6378,&quot;slug&quot;:&quot;santa-ana-plaza&quot;,&quot;name&quot;:&quot;Santa Ana Plaza&quot;,&quot;lat&quot;:&quot;8.9538444&quot;,&quot;lng&quot;:&quot;-79.5388502&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Santa Ana Plaza in Panama City functions as an open-air retail and social hub in the historic Santa Ana neighborhood adjacent to Casco Viejo. The property encompasses the central plaza surrounded by ground-level commercial spaces, including street vendors, small shops, and eateries along Avenida Central. It positions as a community-oriented retail destination rather than a traditional enclosed mall, drawing from local market dynamics where open plazas maintain positive absorption rates amid stable overall retail occupancy around 90% citywide per Colliers reports. Tenant mix comprises approximately 40% food and beverage outlets like cafes and produce stalls, 30% general merchandise such as toys and mobile accessories, and 30% services including shoeshine and small repairs, supporting everyday needs for residents. Demographic profile targets middle to lower-income locals aged 25-55, with a metro population exceeding 1.5 million and high pedestrian density in the urban core. Leasing advantages include accessible entry rents estimated at $15-25 per square meter monthly for 50-200 sqm units, based on local listings, and robust daily footfall of 5,000-8,000 visitors fueled by its cultural significance and proximity to tourist sites. Accessibility relies on public transport and walking, with limited parking posing a challenge. Operational quality features vibrant but informal setup, with some aging infrastructure offset by neighborhood revitalization initiatives. Market factors show competition from upscale malls like Albrook (high footfall 50,000+ daily) and Multiplaza, yet Santa Ana offers niche authenticity for budget retailers. Potential drawbacks encompass security perceptions in the gritty area, market saturation in basic categories, and vulnerability to economic fluctuations affecting local spending power.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;El Machetazo, Local Markets&quot;,&quot;distance&quot;:4.08,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;50&quot;,&quot;gla_sqm&quot;:&quot;10000&quot;,&quot;anchor_tenants&quot;:&quot;El Machetazo, Local Markets&quot;}},{&quot;id&quot;:6689,&quot;slug&quot;:&quot;plaza-la-joya-2&quot;,&quot;name&quot;:&quot;Plaza La Joya&quot;,&quot;lat&quot;:&quot;8.9984493&quot;,&quot;lng&quot;:&quot;-79.532989&quot;,&quot;property_type&quot;:&quot;Shopping Centre&quot;,&quot;description&quot;:&quot;Plaza La Joya is a neighborhood shopping center in the La Joya district of Panama City, Panama, established in 2012 with approximately 20,000 square meters of gross leasable area. It features around 60 tenants, including anchor stores such as a Riba Smith supermarket and a local pharmacy chain, alongside fashion outlets, electronics shops, and a small food court with 10 eateries offering casual dining options. The tenant mix emphasizes everyday retail needs, with 40% dedicated to groceries and services, 30% to apparel and accessories, and 20% to entertainment like a mini-cinema. According to Panama commercial real estate reports from 2023 by CBRE, occupancy hovers at 82%, reflecting stable demand in a middle-class area. Daily footfall estimates reach 4,000-6,000 visitors, driven by proximity to residential communities and bus routes along Vía Porras. Rent levels average $25-40 per square meter per month, lower than central malls, providing cost-effective entry for small retailers. Accessibility benefits from nearby metro line extensions, though traffic congestion during peak hours can impact visibility. The demographic profile includes 45,000 residents within a 3km radius, with average household incomes of $1,200-2,000 monthly, favoring value-oriented shopping. Operational quality is adequate, with modern HVAC systems but occasional maintenance issues noted in tenant feedback. Market position as a convenience center supports steady sales in essential categories, though luxury goods underperform. Leasing advantages include short-term options up to 3 years and build-out allowances up to 20% of rent. Drawbacks involve competition from larger venues like Albrook Mall, 5km away, which draws 20,000+ daily visitors, potential market saturation in fast food, and risks from economic fluctuations affecting consumer spending in Panama&#39;s retail sector, where overall vacancy rose to 12% in 2024 per Colliers International data.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith, Cinema&quot;,&quot;distance&quot;:2.46,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;25&quot;,&quot;gla_sqm&quot;:&quot;12000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith, Cinema&quot;}},{&quot;id&quot;:8248,&quot;slug&quot;:&quot;plaza-5-de-mayo-1&quot;,&quot;name&quot;:&quot;Plaza 5 De Mayo&quot;,&quot;lat&quot;:&quot;8.9605574&quot;,&quot;lng&quot;:&quot;-79.5408939&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Plaza 5 de Mayo is a historic commercial district in Panama Citys Santa Ana neighborhood, built in 1916, covering 4,000 sqm of gross leasable area across pedestrian-friendly blocks on Avenida Central. It hosts approximately 40 tenants, with a mix emphasizing affordable retail: 60% independent shops offering apparel, household goods, and fast casual food; 20% services such as salons and money exchanges; and 20% informal vendors selling fresh produce and daily essentials, including clothing stores, electronics, and pharmacies. Occupancy rate is 88%, slightly below the city average of 95% due to economic pressures on small operators, but supported by low turnover and long-term leases. Footfall reaches 25,000 daily visitors, equating to 750,000 annually, driven by the adjacent Plaza 5 de Mayo Metro station on Line 1, which handles over 15,000 passengers daily and 100,000 weekly, ensuring consistent commuter-driven traffic with an average dwell time of 45 minutes. The district serves a middle to lower-middle class demographic of 25,000 residents in Santa Ana, with a density of 15,000 per sq km, median age of 29, average household size of 3.1, and median income of $1,200 monthly, reaching 500,000 people within 5 km. Rent levels average $25-35 per sqm monthly, for example $3,950 total for a 150 sqm unit including utilities, 30-40% lower than upscale areas like Costa del Este at $50+ per sqm, with typical 3-5 year terms and 5-10% annual escalations tied to inflation. Market position favors value-oriented retail targeting local consumers in Panamas growing urban sector, projected at 4-6% annual expansion through 2027, with advantages in high visibility, low entry barriers, and flexible leasing for startups. However, drawbacks include urban congestion, overcrowding during peaks, saturation in low-margin categories, informal competition from nearby markets like Mercado de Abastos, and proximity to larger venues such as Albrook Mall 5 km away, alongside risks from economic volatility affecting disposable income and aging infrastructure requiring maintenance.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Local Retailers&quot;,&quot;distance&quot;:3.67,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;40&quot;,&quot;gla_sqm&quot;:&quot;4000&quot;,&quot;anchor_tenants&quot;:&quot;Local Retailers&quot;}},{&quot;id&quot;:6374,&quot;slug&quot;:&quot;city-mall&quot;,&quot;name&quot;:&quot;City Mall&quot;,&quot;lat&quot;:&quot;8.9842&quot;,&quot;lng&quot;:&quot;-79.5228&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;City Mall Alajuela, located adjacent to Juan Santamaría International Airport in Alajuela, Costa Rica, spans approximately 130,000 square meters of gross leasable area and opened in 2018. It serves as a regional retail hub with over 200 stores, attracting around 416,666 monthly visitors, or about 14,000 daily, bolstered by proximity to the airport handling over 5 million passengers annually. The tenant mix is diversified: 40% dedicated to fashion and accessories featuring anchors like Zara and H\u0026M, which account for 30% of sales from international brands; 25% to food and beverage with a mix of local and global options; 15% to electronics and home goods; and 20% to entertainment and services, including Cinemark cinemas. Occupancy stands at 95%, reflecting strong demand in a market with national vacancy rates of 6-8%. Prime rents range from $25-35 per square meter monthly, competitive compared to San José averages but influenced by 5-7% annual inflation. The mall targets middle to upper-middle income demographics in Alajuela Province (population ~350,000, median household income ~$25,000 USD), with broader appeal to the 1.85 million in the region, characterized by urban families, professionals, and airport transients. Accessibility is a strength via the Autopista General Cañas highway, though peak-hour traffic on Route 1 can cause delays. Market position benefits from tourism and local manufacturing growth, yet faces challenges from e-commerce penetration (20% shift) and nearby competitors like Multiplaza Escazú. Leasing advantages include medium flexibility for spaces of 500-5,000 sqm and high conversion rates (30%), but risks involve economic volatility impacting discretionary spending and category saturation in fashion.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Audiofoto, Peugeot, Ajisen Ramen&quot;,&quot;distance&quot;:0.68,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;280&quot;,&quot;gla_sqm&quot;:&quot;30000&quot;,&quot;anchor_tenants&quot;:&quot;Audiofoto, Peugeot, Ajisen Ramen&quot;}},{&quot;id&quot;:6376,&quot;slug&quot;:&quot;plaza-balboa&quot;,&quot;name&quot;:&quot;Plaza Balboa&quot;,&quot;lat&quot;:&quot;8.9789078&quot;,&quot;lng&quot;:&quot;-79.5162119&quot;,&quot;property_type&quot;:&quot;Shopping Centre&quot;,&quot;description&quot;:&quot;Plaza Balboa, also known as Balboa Boutiques, is an exclusive open-air shopping center located on Avenida Balboa in the upscale Punta Paitilla neighborhood of Panama City, Panama. Opened around the early 2000s, it spans approximately 10,000 square meters and features over 45 boutique stores, focusing on high-end fashion, accessories, and lifestyle brands. The tenant mix includes international and local retailers such as Pronovias for bridal wear, Sophia for women&#39;s apparel, and specialty shops like The Coffee Bean and Pinkberry for casual dining. The gastronomic offerings are diverse, with restaurants like Aglio Rosso (Italian), Cocina de la India (Indian), Nation Sushi, and Gelatiamo (gelato), catering to affluent diners seeking quality cuisine. Positioned along the iconic waterfront avenue with direct views of the Pacific Ocean and proximity to the Cinta Costera promenade, it benefits from high visibility and accessibility via major roads, the Panama Metro (nearby stations), and pedestrian traffic from nearby high-rises and offices. The surrounding area has a demographic profile of upper-middle to high-income professionals, expatriates, and families, with average household incomes exceeding $5,000 monthly, drawn from the financial district and residential towers. Market reports from Colliers International indicate Panama City&#39;s retail sector grew 4.5% in 2023, with premium locations like Avenida Balboa maintaining occupancy rates above 90%. Leasing advantages include flexible spaces from 50 to 500 square meters, prime frontage for brand exposure, and marketing synergies with events along the Cinta Costera. However, challenges include high base rents averaging $40-60 per square meter monthly, seasonal weather impacts on open-air layout, and competition from larger enclosed malls like Multicentro directly across the street, which offers broader retail variety and higher footfall of over 10 million annual visitors. Operational quality is strong with modern facilities, valet parking, and WiFi, but aging infrastructure in some sections may require updates. Overall, it suits niche luxury retailers targeting discerning consumers in a saturated urban market where e-commerce pressures affect traditional footfall, estimated at 500,000-800,000 visitors yearly based on similar properties.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Starbucks,McDonald&#39;s,Pronovias&quot;,&quot;distance&quot;:0.49,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;25&quot;,&quot;gla_sqm&quot;:&quot;8000&quot;,&quot;anchor_tenants&quot;:&quot;Starbucks,McDonald&#39;s,Pronovias&quot;}},{&quot;id&quot;:6412,&quot;slug&quot;:&quot;plaza-obarrio&quot;,&quot;name&quot;:&quot;Plaza Obarrio&quot;,&quot;lat&quot;:&quot;8.982&quot;,&quot;lng&quot;:&quot;-79.521&quot;,&quot;property_type&quot;:&quot;Retail&quot;,&quot;description&quot;:&quot;Plaza Obarrio is a mixed-use development located at the intersection of Via España and Calle 50 in the Bella Vista district of Panama City, serving as a key retail node in the Obarrio business corridor. This property features ground-level retail spaces integrated with upper-level offices and residential units, spanning approximately 50,000 square feet of leasable retail area. It occupies a strategic position in Panama City&#39;s financial hub, where high-density office towers and banking institutions drive consistent daytime traffic. The tenant mix emphasizes premium and professional services, including upscale boutiques, financial advisors, beauty salons, and specialty food outlets, with notable anchors like local fashion brands and international coffee chains. Market position is strong within the premium street retail segment, benefiting from proximity to major employers and affluent residential neighborhoods. Leasing advantages include flexible space configurations from 100 to 500 square meters, high visibility from vehicular traffic on two major avenues, and access to over 200 on-site parking spaces, which supports conversion ratios of up to 1:200 for retail tenants. Footfall averages 3,000 to 5,000 visitors daily during peak business hours (9 AM to 7 PM), supported by the area&#39;s 95% office occupancy rate and growing expatriate community. Rent levels range from $18 to $25 per square meter monthly, reflecting the prime location but tempered by seasonal fluctuations in tourist inflows. Accessibility is excellent via public transport, including metro lines within 1 km and ample bus routes along Via España. Demographic profile targets high-income professionals aged 25-55, with average household incomes exceeding $5,000 monthly, drawn from the surrounding banking and legal sectors. Operational quality is solid, with modern infrastructure including HVAC systems and 24/7 security, though some units show signs of aging facades from 2010s construction. Potential challenges encompass heavy traffic congestion during rush hours, reducing pedestrian flow, and competition from larger enclosed malls like Multiplaza Pacific, which capture weekend leisure shoppers. Market saturation in professional services categories may pressure mid-tier retailers, while economic ties to global finance introduce volatility risks from international downturns.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Local shops and businesses&quot;,&quot;distance&quot;:0.49,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;60&quot;,&quot;gla_sqm&quot;:&quot;2200&quot;,&quot;anchor_tenants&quot;:&quot;Local shops and businesses&quot;}},{&quot;id&quot;:8261,&quot;slug&quot;:&quot;plaza-camino-real&quot;,&quot;name&quot;:&quot;Plaza Camino Real&quot;,&quot;lat&quot;:&quot;9.0093313&quot;,&quot;lng&quot;:&quot;-79.5277441&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Plaza Camino Real is a mixed-use development located in the Betania neighborhood of Panama City, Panama, constructed in 2005. It features residential apartments on upper floors and ground-level commercial spaces suitable for small retail and service-oriented businesses. The property spans approximately 10,000 square meters in total, with commercial areas totaling around 1,500 square meters divided into various unit sizes from 50 to 200 square meters. Positioned along the Camino Real de Betania, it benefits from proximity to major thoroughfares like Via Espana and Cinta Costera, providing reasonable accessibility via public transportation and personal vehicles. The tenant mix includes convenience stores, pharmacies, cafes, beauty salons, and professional services such as real estate offices and medical clinics, catering primarily to local residents rather than tourists. Market position as a neighborhood plaza emphasizes everyday essentials over luxury retail, with occupancy rates typically around 85-90% based on Panama City commercial real estate reports from 2023-2025. Rent levels average USD 15-20 per square meter monthly for ground-floor spaces, competitive for small-scale operations but lower than in premium malls like Multiplaza or Albrook. Leasing advantages include flexible terms for short-term leases, lower operational costs due to shared maintenance, and a stable local customer base from surrounding middle-class residential areas. However, challenges include limited footfall compared to larger centers, estimated at 500-1,000 daily visitors, and potential saturation in service categories. The surrounding area has seen steady population growth, with Betanias demographic profile supporting consistent demand for proximity retail. Overall, it suits independent retailers seeking affordable entry into the Panama City market without high competition from international chains.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Local supermarket, pharmacy&quot;,&quot;distance&quot;:3.14,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;12&quot;,&quot;gla_sqm&quot;:&quot;1000&quot;,&quot;anchor_tenants&quot;:&quot;Local supermarket, pharmacy&quot;}}],&quot;secondary&quot;:[{&quot;id&quot;:6371,&quot;slug&quot;:&quot;atrio-mall&quot;,&quot;name&quot;:&quot;Atrio Mall&quot;,&quot;lat&quot;:&quot;9.0219015&quot;,&quot;lng&quot;:&quot;-79.462575&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;Atrio Mall is situated in the upscale Costa del Este district of Panama City, Panama, and opened in 2019 as the first dedicated shopping center in the area. Covering 14,000 square meters, it houses over 120 stores with a tenant mix focused on fashion, lifestyle, and services, including international brands like Starbucks, fitness provider Smart Fit, beauty outlets such as Society Beauty Club, and a medical center. Dining options blend local Panamanian cuisine with global eateries, while entertainment features the Nova Cinema equipped with IMAX screens and family zones. The mall incorporates modern architecture with open spaces, natural lighting, and green areas emphasizing sustainability. Market position leverages Costa del Este high purchasing power zone, home to business hubs, residential developments, and affluent demographics including executives and expatriates. Leasing advantages encompass stable demand from local high-income residents, low immediate competition, and versatile spaces for retail and services. Accessibility via major roads supports vehicle traffic, though public transport options are limited. Operational metrics indicate strong occupancy in premium segments, with Panama retail reports noting average city footfall recovery post-pandemic to 85-90 percent levels. Potential drawbacks include proximity to larger malls like Metromall two miles away, introducing competitive pressures, and occasional feedback on limited food court variety or parking congestion during peaks. Overall, the property suits retailers targeting upscale consumers amid Panama City expanding commercial landscape.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Nova Cinemas, Starbucks, Smart Fit&quot;,&quot;distance&quot;:7.33,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;200&quot;,&quot;gla_sqm&quot;:&quot;14000&quot;,&quot;anchor_tenants&quot;:&quot;Nova Cinemas, Starbucks, Smart Fit&quot;}},{&quot;id&quot;:8162,&quot;slug&quot;:&quot;viva-plaza-los-pueblos&quot;,&quot;name&quot;:&quot;Viva Plaza Los Pueblos&quot;,&quot;lat&quot;:&quot;9.050572&quot;,&quot;lng&quot;:&quot;-79.447153&quot;,&quot;property_type&quot;:&quot;Convenience&quot;,&quot;description&quot;:&quot;Viva Plaza Los Pueblos is a newly developed retail center located in the Juan Díaz district of Panamá City, strategically positioned between Cerro Viento and San Antonio metro stations with direct access to Avenida Domingo Díaz. This enhances connectivity for residents and commuters across the metropolitan area, including proximity to Tocumen International Airport. The property features 31 commercial spaces designed for diverse businesses, with over 70% occupancy by leading brands as of early 2026, indicating growing interest in the location. Tenant mix includes essential retail such as Hiper Rey supermarket, hardware stores like Novey, gardening sections, food courts, and various family-oriented outlets, catering to everyday needs rather than luxury shopping. The surrounding Juan Díaz area has a population of approximately 56,000 residents within 20 square kilometers, drawing from a broader catchment of 100,000 to 150,000 people characterized by middle to lower-middle income households earning $800 to $2,500 monthly. This demographic supports practical retail categories like groceries, home improvement, and casual dining. Leasing advantages include flexible space sizes from 57 m² upward, modern infrastructure integrating commercial areas with green spaces for a family-friendly atmosphere, and potential for high weekend footfall due to metro access and local family outings. However, as a smaller plaza compared to established malls, it faces challenges in achieving consistent traffic volumes initially. Market reports highlight the area&#39;s urban growth, with increasing residential developments boosting local demand, though saturation in basic retail categories could limit expansion for niche tenants. Overall, the plaza positions itself as a convenient neighborhood hub, offering stable occupancy potential amid Panamá&#39;s expanding retail landscape.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Hiper Rey, Novey&quot;,&quot;distance&quot;:10.69,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;31&quot;,&quot;gla_sqm&quot;:&quot;8000&quot;,&quot;anchor_tenants&quot;:&quot;Hiper Rey, Novey&quot;}},{&quot;id&quot;:7162,&quot;slug&quot;:&quot;plaza-juan-diaz&quot;,&quot;name&quot;:&quot;Plaza Juan Diaz&quot;,&quot;lat&quot;:&quot;9.04868&quot;,&quot;lng&quot;:&quot;-79.45042&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;Plaza Juan Diaz is a community-oriented shopping plaza situated in the Juan Diaz district of Panama City, Panama, a vibrant residential area with a population exceeding 100,000 residents primarily from middle to lower-middle income brackets. The district features a mix of housing, small businesses, and proximity to Tocumen International Airport, enhancing its role as a convenient retail hub for daily necessities. Accessibility is a key strength, with direct connections to major thoroughfares like Avenida Domingo Diaz and the Corredor Sur highway, facilitating easy vehicle and public transport access for locals and commuters. The tenant mix focuses on practical retail categories: approximately 35% dedicated to supermarkets and grocery stores such as local chains, 25% to apparel and discount merchandise outlets, 20% to electronics and household goods, 15% to services like pharmacies and banks, and 5% to casual dining options. This composition supports steady footfall estimated at 4,000 to 6,000 daily visitors, driven by neighborhood demand rather than tourist traffic. Occupancy levels are reported around 88-92%, bolstered by competitive rent structures ranging from $12 to $18 per square meter monthly, significantly lower than premium malls like Multiplaza Pacific at $25-35 per square meter. The plaza&#39;s market position as a value-driven neighborhood center offers leasing advantages including reduced operational costs, stable local patronage, and potential for quick lease-ups due to high residential density. However, challenges include competition from nearby larger centers like Los Pueblos, which boasts similar but expanded offerings, and potential access issues from airport-related traffic congestion. Demographic profiles indicate a young to middle-aged population with household incomes averaging $1,200-$2,000 monthly, favoring affordable retail. Operational quality is adequate with surface parking for over 200 vehicles, though aging infrastructure in some sections may require maintenance considerations. Overall, the plaza suits retailers targeting everyday consumer needs in a growing suburban market, with Panama&#39;s retail sector expanding at 3-5% annually per recent commercial reports.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Conway, El Campeón, Arrocha&quot;,&quot;distance&quot;:10.29,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;75&quot;,&quot;gla_sqm&quot;:&quot;30000&quot;,&quot;anchor_tenants&quot;:&quot;Conway, El Campeón, Arrocha&quot;}},{&quot;id&quot;:7585,&quot;slug&quot;:&quot;centro-comercial-los-pueblos&quot;,&quot;name&quot;:&quot;Centro Comercial Los Pueblos&quot;,&quot;lat&quot;:&quot;9.0465286&quot;,&quot;lng&quot;:&quot;-79.4492639&quot;,&quot;property_type&quot;:&quot;Shopping Centre&quot;,&quot;description&quot;:&quot;Centro Comercial Los Pueblos is an open-air shopping center in Panamas Juan Diaz district along Avenida Domingo Diaz, about 10 minutes from Tocumen International Airport. Spanning roughly 50,000 square meters with over 150 tenants, it emphasizes outlet and wholesale retail sourced from the Colon Free Trade Zone, including apparel, electronics, household items, a supermarket, and casual dining like TGI Fridays. The tenant mix targets value-oriented consumers, with 60% discount retail, 20% food and beverage, and 20% services. In Panamas retail market, valued at over $10 billion in 2024 with 4% projected CAGR to 2025, Los Pueblos holds a neighborhood position serving 100,000 residents within 5 km, bolstered by 92% occupancy and daily footfall of 25,000 visitors, peaking on weekends due to family traffic and airport proximity. Leasing advantages encompass 3-5 year terms at $18-22 per square meter monthly base rent, plus 8-10% sales turnover, offering cost-effective entry for mid-tier retailers amid stable demand from working-class demographics. Accessibility features ample parking for 2,000 vehicles and public transport links, though traffic congestion on major roads can hinder flow. Operational quality includes daily hours from 9 AM to 7:45 PM, but challenges arise from aging infrastructure and competition from enclosed malls like Albrook and Multiplaza, which attract premium brands and higher footfall of 50,000+. Retailers should evaluate category fit, as discount segments face saturation, while convenience goods perform steadily supported by local economic ties to logistics and aviation sectors.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Supermarket, Department Stores, Sabeco, Gago, Restaurants&quot;,&quot;distance&quot;:10.21,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;150&quot;,&quot;gla_sqm&quot;:&quot;30000&quot;,&quot;anchor_tenants&quot;:&quot;Supermarket, Department Stores, Sabeco, Gago, Restaurants&quot;}},{&quot;id&quot;:8205,&quot;slug&quot;:&quot;villa-mall&quot;,&quot;name&quot;:&quot;Villa Mall&quot;,&quot;lat&quot;:&quot;9.04223&quot;,&quot;lng&quot;:&quot;-79.48386&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Located in San Miguelito district of Panama City along Avenida Domingo Diaz, Villa Mall (Centro Comercial Villa Lucre) is a neighborhood center with 20,000 sqm gross leasable area over two levels, opened around 2013. It serves over 375,000 residents in a dense urban area with working-class families (average income $800-1,200 monthly, 60% under 35 years old, 3.2 persons per household). Tenant mix prioritizes convenience retail: anchors Super 99 supermarket and Farmacias Arrocha generate 40-50% traffic; 60 stores include banks like Banistmo, shipping services, and restaurants (Italian, fast food, local cuisine). Occupancy at 90% aligns with suburban average of 88%. Footfall averages 5,000-8,000 daily (1.2 million annually), supported by Villa Lucre Metro station proximity. Rents at $12 per sqm monthly ensure low turnover. Market position suits everyday needs in 2% annually growing population, bolstered by Panama retail sector 4-6% sales growth. Leasing advantages: affordable rates, stable local demand, excellent transit access. Drawbacks: traffic congestion, limited high-end appeal, competition from larger malls like Los Pueblos and Albrook. Sales per sq ft $400-600 yearly, below prime averages.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Super 99, Farmacias Arrocha&quot;,&quot;distance&quot;:7.48,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;30&quot;,&quot;gla_sqm&quot;:&quot;12500&quot;,&quot;anchor_tenants&quot;:&quot;Super 99, Farmacias Arrocha&quot;}},{&quot;id&quot;:8360,&quot;slug&quot;:&quot;metro-point&quot;,&quot;name&quot;:&quot;Metro Point&quot;,&quot;lat&quot;:&quot;9.0458&quot;,&quot;lng&quot;:&quot;-79.4722&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;Metro Point is a mixed-use development in central Panama City, featuring two 42-story residential towers with ground-level commercial spaces designed for retail and services. Located behind the Ingenio Metro station, accessible via Calle 50 and Via Espana, it benefits from excellent public transportation connectivity, drawing daily commuters and urban residents. The project targets middle-to-upper-income professionals, with apartments ranging from studios to three-bedroom units. Commercial areas total approximately 5,000 square meters, including shops, cafes, and convenience stores to serve residents and passersby. Market position is strong in the bustling El Cangrejo and Bella Vista neighborhoods, where retail demand is driven by office workers and tourists. Tenant mix emphasizes everyday essentials like supermarkets, pharmacies, and quick-service eateries, with potential for boutique retail. Leasing advantages include flexible terms starting at three years, competitive rents of $25-35 per square meter monthly, and high visibility from high-traffic streets. Occupancy rates in similar central developments hover around 90%, supported by Panama&#39;s growing economy and urban migration. However, challenges include nearby competition from established malls like Multicentro, which offer broader entertainment options. Footfall estimates reach 10,000-15,000 daily visitors due to metro proximity, though parking is limited, favoring pedestrian-oriented tenants. Operational quality is modern, with energy-efficient designs and security features. Demographic profile includes young professionals aged 25-45, with average household incomes of $3,000 monthly, contributing to stable retail performance. Risks involve economic fluctuations in Panama&#39;s service-based economy and potential oversupply of residential units impacting local spending.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;El Machetazo, Stevens, Cinépolis, Multimax&quot;,&quot;distance&quot;:8.5,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;85&quot;,&quot;gla_sqm&quot;:&quot;81300&quot;,&quot;anchor_tenants&quot;:&quot;El Machetazo, Stevens, Cinépolis, Multimax&quot;}},{&quot;id&quot;:6676,&quot;slug&quot;:&quot;plaza-san-miguelito&quot;,&quot;name&quot;:&quot;Plaza San Miguelito&quot;,&quot;lat&quot;:&quot;9.0412861&quot;,&quot;lng&quot;:&quot;-79.5282241&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;Plaza San Miguelito is a mid-tier shopping center located in the San Miguelito District of Panama City, along Domingo Diaz Avenue and Via Tocumen, offering direct access to the Transistmica highway and Metro Line 1 at San Miguelito station, with connections to Metro Line 2 and proximity to Tocumen International Airport. The property spans a gross leasable area of 65,000 square meters across three levels, established in 1975 and owned by Cencosud, featuring over 300 stores that cater to everyday shopping needs in a dense suburban area. The tenant mix emphasizes anchors such as Almacen El Rey supermarket, Super 99, Cinemark cinema, and Levi&#39;s, alongside Riba Smith supermarket, international fashion brands like H\u0026M, local clothing chains, electronics outlets, and a diverse food and beverage selection including fast food, sit-down restaurants, and a food court. This composition supports a community-oriented retail environment with high diversity across categories, though saturation exists in supermarkets and fast fashion. Market position as a neighborhood hub benefits from a local population of 375,000 in San Miguelito, characterized by middle to lower-middle income households averaging USD 1,200-1,800 monthly, median age of 30 years, and average household size of 3.2 persons, driving consistent demand for value-oriented retail. Annual footfall reaches 5 million visitors, with weekday averages of 15,000-20,000 and weekend peaks of 25,000-30,000, bolstered by 5,000-7,000 weekly transient airport-related visitors via metro connectivity; average dwell time is 120 minutes, with 30% repeat visits. Occupancy stands at 92%, reflecting stable demand amid Panama City&#39;s retail sector, where GDP per capita is USD 12,000 and unemployment is 8%. Leasing advantages include flexible terms of 3-10 years with renewal options, average rents of USD 25-35 per square meter monthly (base USD 20 plus 8-12% turnover rent and USD 5-7 common area maintenance), and operational strengths like 2,000 parking spaces, modern HVAC, 24/7 security with CCTV (2 incidents per 1,000 visitors), and 5% annual growth potential through infrastructure upgrades and event-driven marketing (15% traffic boost). However, challenges include competition from larger malls like Albrook and Multiplaza Pacific, category saturation within 5 km (over 20 similar outlets), aging elements requiring maintenance, traffic congestion on access routes, and e-commerce penetration at 20% impacting physical sales, necessitating differentiation strategies for tenants.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Almacén El Rey, Cinemark, Super 99, Levi&#39;s&quot;,&quot;distance&quot;:6.57,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;150&quot;,&quot;gla_sqm&quot;:&quot;65000&quot;,&quot;anchor_tenants&quot;:&quot;Almacén El Rey, Cinemark, Super 99, Levi&#39;s&quot;}},{&quot;id&quot;:6694,&quot;slug&quot;:&quot;plaza-la-arboleda&quot;,&quot;name&quot;:&quot;Plaza La Arboleda&quot;,&quot;lat&quot;:&quot;9.0145593&quot;,&quot;lng&quot;:&quot;-79.4660502&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;Plaza La Arboleda is a neighborhood commercial plaza located in Puerto Caimito, La Chorrera, within Panama Oeste province, approximately 25 kilometers west of Panama City. Opened as a local shopping center, it primarily serves the surrounding residential communities in San Pablo Viejo and nearby areas, focusing on everyday retail needs rather than luxury or entertainment-driven shopping. The property spans a modest size, estimated at around 5,000-10,000 square meters, with an open-air format that includes ground-level stores and some upper-level units. Key anchors include Supermercado La Arboleda, a mid-sized grocery store providing essential goods, and Farmacia Cruz Verde, a national pharmacy chain occupying a prominent local. Other tenants comprise local eateries such as La Fondita del West offering typical Panamanian breakfasts and casual dining, alongside basic services like salons, mini-marts, and small apparel or household goods shops. The tenant mix emphasizes convenience-oriented categories: 40% grocery and pharmacy, 30% food and beverage, and 30% general merchandise and services, with limited high-end or international brands. In the broader Panama retail market, as per Colliers International reports from 2022-2023, open plazas like this one have shown positive absorption rates due to pent-up consumer demand post-pandemic, with overall vacancy in suburban areas below 10%. Plaza La Arboledas market position is that of a community hub in a growing suburban corridor, benefiting from population expansion in Panama Oeste, which saw a 5.2% annual growth rate per national census data. Accessibility is via the main Arraijan-La Chorrera highway, with ample free parking, though public transport options are limited to local buses. Rent levels for similar properties average 25-35 USD per square meter per month, lower than central Panama City malls at 40-55 USD, offering cost-effective entry for small retailers. Advantages include steady footfall from local residents, reduced competition from mega-malls, and potential for cross-shopping with the supermarket anchor. Drawbacks involve seasonal sales dips during rainy periods and reliance on local economy, which is tied to construction and agriculture sectors vulnerable to national fluctuations. Operational quality is adequate with basic maintenance, but infrastructure shows signs of aging in some areas, requiring potential investments for modern facades or digital signage to boost appeal. Overall, it suits budget-conscious retailers targeting middle to lower-middle income families, with opportunities in essential goods categories amid market saturation in fashion and electronics elsewhere.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Do It Center, Farmacias Arrocha, MNG&quot;,&quot;distance&quot;:6.56,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;20&quot;,&quot;gla_sqm&quot;:&quot;25000&quot;,&quot;anchor_tenants&quot;:&quot;Do It Center, Farmacias Arrocha, MNG&quot;}},{&quot;id&quot;:7588,&quot;slug&quot;:&quot;centro-comercial-villa-lucre&quot;,&quot;name&quot;:&quot;Centro Comercial Villa Lucre&quot;,&quot;lat&quot;:&quot;9.04223&quot;,&quot;lng&quot;:&quot;-79.48386&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Centro Comercial Villa Lucre is a neighborhood shopping center located in the Villa Lucre area of San Miguelito district, Panama City, along Avenida Domingo Díaz. Opened around 2013, it serves the local residential community with a focus on everyday retail needs. The mall spans multiple levels, offering approximately 10,000-15,000 square meters of gross leasable area, anchored by Super 99 supermarket and Farmacias Arrocha pharmacy. Tenant mix includes banks like Banistmo, shipping services such as MBE, and various restaurants offering Italian, fast food, and local cuisine options. Occupancy rates are estimated at 85-95% based on regional retail trends, with available spaces leasing at around $12 per square meter monthly. The surrounding area features a population of over 300,000 in San Miguelito, characterized by middle to lower-middle income households averaging $800-1,200 monthly. Footfall benefits from proximity to the Villa Lucre Metro station on Line 2, opened in 2019, which has increased daily visitors by facilitating commuter traffic. Market position is strong for convenience shopping, though challenged by competition from larger regional malls like Los Pueblos and Albrook Mall. Leasing advantages include stable demand from dense urban demographics and good visibility on a major thoroughfare, but potential drawbacks involve traffic congestion on Domingo Díaz and limited high-end retail appeal. Operational quality is average, with standard security and parking for 300+ vehicles. Retail performance in Panama City shows 4-6% annual sales growth in neighborhood centers, supported by population expansion, but saturation in grocery and pharmacy categories poses risks.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Super 99, Farmacias Arrocha&quot;,&quot;distance&quot;:7.48,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;60&quot;,&quot;gla_sqm&quot;:&quot;10000&quot;,&quot;anchor_tenants&quot;:&quot;Super 99, Farmacias Arrocha&quot;}},{&quot;id&quot;:8247,&quot;slug&quot;:&quot;plaza-luna&quot;,&quot;name&quot;:&quot;Plaza Luna&quot;,&quot;lat&quot;:&quot;8.9852167&quot;,&quot;lng&quot;:&quot;-79.5752407&quot;,&quot;property_type&quot;:&quot;Convenience&quot;,&quot;description&quot;:&quot;Plaza Luna is a modest neighborhood shopping center in the Tumba Muerto district of Panama City, covering about 5,000 square meters across two levels with approximately 30 retail spaces. Opened in the early 2000s, it functions as a local convenience hub in a densely populated urban area near major thoroughfares like Via Cincuentenario. The tenant mix prioritizes everyday needs, with 55% allocated to grocery anchors, pharmacies, and basic apparel; 30% to casual dining and quick-service eateries like local panaderias and fast food outlets; and 15% to services such as banks and repair shops. This composition caters to practical shopping rather than leisure, aligning with the areas working-class profile. Market position reflects Panamas retail landscape, where neighborhood centers like this maintain steady performance amid overall sector growth of 4% annually driven by urban expansion and canal-related economy. Occupancy hovers at 87%, slightly below the city average of 90% for similar formats, indicating stable but not exceptional demand. Rent levels range from $16-23 per square meter monthly, more affordable than upscale malls like Multiplaza at $40+, offering entry points for small retailers. Accessibility benefits from proximity to public transport and highways, though heavy traffic in Tumba Muerto reduces drive-in convenience. Footfall estimates 4,500-6,500 visitors daily, peaking midweek for lunch crowds and weekends for family outings, supported by 150 parking spots. Operational quality is adequate with basic maintenance, but aging facades suggest potential upgrades needed. Leasing advantages include flexible short-term options (3-5 years) and lower common area fees, fostering viability for budget brands. Drawbacks encompass competition from nearby larger venues like Albrook Mall (10km away, 20,000+ daily visitors) drawing away entertainment spenders, market saturation in convenience categories, and vulnerability to economic dips affecting middle-income spending. Overall, it suits resilient operators targeting local loyalty over high-volume traffic, with sales per square meter around $6,000 yearly per commercial reports.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Restaurants, Local Shops&quot;,&quot;distance&quot;:6.43,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;25&quot;,&quot;gla_sqm&quot;:&quot;1500&quot;,&quot;anchor_tenants&quot;:&quot;Restaurants, Local Shops&quot;}},{&quot;id&quot;:8249,&quot;slug&quot;:&quot;plaza-terrazas-de-albrook&quot;,&quot;name&quot;:&quot;Plaza Terrazas De Albrook&quot;,&quot;lat&quot;:&quot;8.9746622&quot;,&quot;lng&quot;:&quot;-79.5656688&quot;,&quot;property_type&quot;:&quot;Shopping Centre&quot;,&quot;description&quot;:&quot;Plaza Terrazas de Albrook is a five-level commercial plaza located in the Albrook district of Panama City, along Avenida Omar Torrijos Herrera, directly across from the Omar Torrijos International Airport (formerly Marcos A. Gelabert). Developed by Empresas Bern, it comprises 186 retail and office spaces ranging from 64 to 275 square meters, with street-level units exclusively for lease. The property offers 863 parking spaces, three elevators, five staircases, backup generator, water storage, and communal gas lines suitable for restaurants. Accessibility is strong via major avenues connecting to downtown Panama City, the Panama Canal, and Pacific ports, benefiting from the areas high traffic from airport passengers and local commuters. In the context of Panamas retail market, which saw 4.5% growth in 2024 per Colliers International reports, this plaza holds a niche position as a convenient stop for travelers and residents in the Ancon district. Tenant mix includes potential for small shops, services, and professional offices, though specific anchors are not detailed in directories; it complements rather than competes directly with larger venues. Leasing advantages include flexible space combinations, included air conditioning and half-bathrooms per unit, and proximity to Albrook Malls draw of over 15 million annual visitors, potentially spilling over footfall. However, occupancy data is limited, estimated at 80-85% based on similar properties, with average rents of 25-30 USD per square meter monthly. Drawbacks involve dependency on airport traffic, which can fluctuate with aviation trends, and competition from nearby retail giants risking tenant retention in weaker categories like apparel amid market saturation in Panama Citys west side.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith, Local Retailers&quot;,&quot;distance&quot;:5.46,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;186&quot;,&quot;gla_sqm&quot;:&quot;27900&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith, Local Retailers&quot;}},{&quot;id&quot;:8257,&quot;slug&quot;:&quot;san-miguelito-mall&quot;,&quot;name&quot;:&quot;San Miguelito Mall&quot;,&quot;lat&quot;:&quot;9.0485176&quot;,&quot;lng&quot;:&quot;-79.5082571&quot;,&quot;property_type&quot;:&quot;Shopping Mall&quot;,&quot;description&quot;:&quot;San Miguelito Mall, located in the San Miguelito District of Panama City along Domingo Diaz Avenue and Via Tocumen, is a mid-tier neighborhood shopping center built in 1975 and owned by Cencosud. It spans approximately 50,000 to 65,000 square meters of gross leasable area across three levels, accommodating 120 to 300 stores and offering 2,000 parking spaces. The mall serves a dense residential area with 375,000 inhabitants, functioning as a community hub with anchors including supermarkets like Almacen El Rey, Super 99, and Riba Smith; fashion retailers such as H\u0026M and Levi&#39;s; electronics outlets; Cinemark cinemas; and a food court featuring fast food and casual dining. Occupancy stands at 92 percent as of 2024 reports, supported by average monthly footfall of 416,667 visitors, equating to 5 million annually, with weekday averages of 15,000 to 20,000 and weekend peaks of 25,000 to 30,000. Rents average USD 25 to 35 per square meter monthly, plus 8 to 12 percent turnover and USD 5 to 7 common area maintenance fees, with lease terms of 3 to 10 years offering flexibility for smaller retailers. Market position emphasizes value-oriented retail amid suburban growth, benefiting from Metro Lines 1 and 2 connectivity and proximity to Tocumen International Airport, which adds transient traffic. However, challenges include category saturation in apparel and groceries, aging infrastructure requiring maintenance, and traffic congestion on access roads. Leasing advantages include adaptable terms for emerging tenants and steady local demand from middle to lower-middle income demographics, though competition from nearby centers like Albrook Mall and Multiplaza Pacific poses risks to premium segments. Operational quality is adequate with modern security and HVAC, but e-commerce penetration at 70 percent impacts traditional sales, necessitating differentiation through events and experiential offerings.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Riba Smith, Super 99, Almacen El Rey, H\u0026M, Levi&#39;s, Cinemark&quot;,&quot;distance&quot;:7.31,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;300&quot;,&quot;gla_sqm&quot;:&quot;65000&quot;,&quot;anchor_tenants&quot;:&quot;Riba Smith, Super 99, Almacen El Rey, H\u0026M, Levi&#39;s, Cinemark&quot;}},{&quot;id&quot;:6418,&quot;slug&quot;:&quot;downtown-amador-plaza&quot;,&quot;name&quot;:&quot;Downtown Amador Plaza&quot;,&quot;lat&quot;:&quot;8.9403878&quot;,&quot;lng&quot;:&quot;-79.5510352&quot;,&quot;property_type&quot;:&quot;Mixed-Use&quot;,&quot;description&quot;:&quot;Downtown Amador Plaza is a revitalized mixed-use development located along the Amador Causeway in Panama City, Panama, spanning approximately 300 meters of waterfront space. Formerly known as Zona Viva, it integrates historical buildings with modern amenities, positioning itself as a cultural and leisure hub. The property features a diverse tenant mix including nine to ten initial restaurants offering Panamanian and international cuisine, a 36-room Boutique Hotel La Palma, the Figali Convention Center for events, a new cruise terminal, a Sports Hall of Fame museum, a Las Vegas-style zip line, and La Calle del Arte, an artistic corridor in collaboration with local talents. Opened on August 30, 2024, it aims for 80% occupancy by year-end, benefiting from collaborations with the Panama City Mayors Office and security entities for safe operations. Accessibility is enhanced by the causeways proximity to the Panama Canal and international cruise arrivals, drawing tourist footfall. In the broader Panama retail market per Colliers Q1 2024 report, the sector remains stable with 12,270 square meters absorbed and high demand in commercial plazas, though rents hold steady amid economic recovery. The areas market position leverages tourism growth, with Panama receiving over 2 million visitors annually, but faces challenges from seasonal fluctuations and competition from established malls like Multiplaza and Albrook. Operational quality includes daily afternoon dining and evening entertainment, appealing to a demographic of middle-to-upper income locals, expats, and international tourists. Potential leasing advantages include visibility to cruise passengers and event-driven traffic, though drawbacks involve unproven long-term footfall and infrastructure integration in a tourism-dependent economy.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Figali Convention Center, Sports Hall of Fame, Various Restaurants&quot;,&quot;distance&quot;:6.08,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;85&quot;,&quot;gla_sqm&quot;:&quot;5000&quot;,&quot;anchor_tenants&quot;:&quot;Figali Convention Center, Sports Hall of Fame, Various Restaurants&quot;}},{&quot;id&quot;:8529,&quot;slug&quot;:&quot;plaza-villa-lisa&quot;,&quot;name&quot;:&quot;Plaza Villa Lisa&quot;,&quot;lat&quot;:&quot;9.0288752&quot;,&quot;lng&quot;:&quot;-79.485993&quot;,&quot;property_type&quot;:&quot;Shopping Centre&quot;,&quot;description&quot;:&quot;Plaza Villa Lisa is a mid-sized neighborhood shopping center located in Panama City, Panama, constructed in 1990 spanning 18,500 square meters of gross leasable area over two levels. It hosts 45 stores with a high-diversity tenant mix across six categories, anchored by a supermarket and local specialty shops, focusing on everyday essentials like groceries, apparel, banking, and casual dining. The mall draws from a 5 km radius catchment of 250,000 residents, featuring a young average age of 31 years, household size of 3.2 persons, average annual income of 12,500 USD, and 2.1 percent population growth rate, amid a cost of living index of 82 relative to the US at 100. Occupancy is solid at around 92 percent, with vacancy at 8 percent, supported by annual sales of 4,800 USD per square meter. Footfall averages 16,666 monthly visitors or 900,000 annually, with visits lasting 55 minutes on average, driven by 40 percent shopping, 35 percent dining, and 25 percent home goods purposes. Rent averages 22 USD per square meter monthly, aligning with Panama&#39;s retail market growth of 4 to 6 percent projected through 2025, fueled by middle-class expansion and dollarized stability. Accessibility benefits from high-traffic adjacency, good public transport links, and 450 parking spaces. In the broader market, it holds a medium-density position suitable for convenience retail, with operational strengths including low safety incidents via CCTV and guards, plus 10 annual events. Leasing opportunities offer stable traffic for essential categories and potential from 8 planned new tenants amid 4.5 percent growth. However, challenges include aging infrastructure requiring minor renovations, high competition from dominant regional centers like Multiplaza Pacific and Albrook Mall, e-commerce encroachment at 18 percent market share, and saturation in grocery and basic apparel segments, exposing it to middle-income spending volatility with 7.2 percent unemployment.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Local shops, Supermarket&quot;,&quot;distance&quot;:6.09,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;45&quot;,&quot;gla_sqm&quot;:&quot;4000&quot;,&quot;anchor_tenants&quot;:&quot;Local shops, Supermarket&quot;}}],&quot;outside&quot;:[{&quot;id&quot;:6693,&quot;slug&quot;:&quot;plaza-la-siesta&quot;,&quot;name&quot;:&quot;Plaza La Siesta&quot;,&quot;lat&quot;:&quot;9.0782877&quot;,&quot;lng&quot;:&quot;-79.3669187&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Plaza La Siesta is a neighborhood-oriented shopping center in the Tocumen district of Panama City, situated along the main La Siesta road. It caters to a residential-heavy area with over 115,000 inhabitants based on 2017 health ministry data, making it a primary local retail destination. The facility comprises three anchor stores and about 28 leasable spaces on ground and mezzanine levels, spanning roughly 5,000 square meters. Tenant mix emphasizes everyday essentials, featuring Mr. Price as the supermarket anchor, quick-service restaurants such as KFC, Domino&#39;s, and Subway, discount retailer Todo a Dollar, and specialty outlets like Molly Pets and Brasas Latinas. In the market context, it holds a solid position for convenience shopping amid Tocumens growth as a suburban extension of the capital, supported by airport proximity and expanding housing developments exceeding 6,000 units nearby. Leasing benefits include affordable rents averaging USD 12-15 per square meter monthly, occupancy rates near 95 percent, and straightforward access via public transport and major thoroughfares. Strengths lie in consistent local footfall estimated at 6,000-8,000 daily visitors from middle-lower income demographics, bolstered by operational efficiencies like ample parking for over 150 vehicles. Potential drawbacks encompass competition from larger venues such as Metro Mall, which siphons premium traffic, and category overlaps in fast food amid street-level vendors. Infrastructure remains relatively modern with recent builds, though seasonal traffic congestion and minor access bottlenecks during peak airport hours could impact performance. Overall, it suits retailers targeting budget-conscious families seeking stable, low-risk neighborhood presence.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Local supermarkets and retailers&quot;,&quot;distance&quot;:19.55,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;60&quot;,&quot;gla_sqm&quot;:&quot;4000&quot;,&quot;anchor_tenants&quot;:&quot;Local supermarkets and retailers&quot;}},{&quot;id&quot;:7454,&quot;slug&quot;:&quot;plaza-24-de-diciembre&quot;,&quot;name&quot;:&quot;Plaza 24 De Diciembre&quot;,&quot;lat&quot;:&quot;9.098781&quot;,&quot;lng&quot;:&quot;-79.3609007&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Plaza 24 de Diciembre is a community-focused shopping plaza situated in the densely populated 24 de Diciembre district of Panama City, approximately 10 km east of the city center. Covering around 15,000 sqm of gross leasable area, it primarily serves local residents through a practical tenant mix of essential retail and services. Key anchors include a supermarket, pharmacy, and basic apparel stores, complemented by fast-casual dining and utility providers like banks and mobile services. The plaza maintains an occupancy rate of approximately 88%, supported by steady local demand in a neighborhood with over 60,000 inhabitants. Average monthly rents range from $7 to $12 per sqm, significantly below those in premium centers like nearby MegaMall ($20+ per sqm), making it attractive for small to medium retailers targeting value-conscious consumers. Footfall averages 7,000 to 9,000 visitors daily, with peaks during evenings and weekends, driven by public bus access and proximity to the Corredor Sur highway. In the broader Panama City retail market, where overall occupancy hovers at 92% and sales per sqm reach $8,000 annually, this plaza holds a niche as an affordable, convenience-oriented venue. Leasing advantages encompass flexible short-term leases (3-5 years), minimal common area maintenance fees ($2-3 per sqm), and opportunities for pop-up or seasonal tenants. However, challenges include competition from larger malls drawing away entertainment-seeking shoppers, potential infrastructure wear in an established urban area, and sensitivity to local economic fluctuations, as the demographic features middle-lower income households averaging $1,000-1,500 monthly. Operational quality is adequate, with standard security and parking for 300 vehicles, but lacks advanced amenities like multiplex cinemas found in upscale competitors.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;El Fuerte, Joyeria Sapir&quot;,&quot;distance&quot;:21.39,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;25&quot;,&quot;gla_sqm&quot;:&quot;4000&quot;,&quot;anchor_tenants&quot;:&quot;El Fuerte, Joyeria Sapir&quot;}},{&quot;id&quot;:7095,&quot;slug&quot;:&quot;plaza-los-pinos-1&quot;,&quot;name&quot;:&quot;Plaza Los Pinos&quot;,&quot;lat&quot;:&quot;9.0835678&quot;,&quot;lng&quot;:&quot;-79.397614&quot;,&quot;property_type&quot;:&quot;Neighborhood&quot;,&quot;description&quot;:&quot;Plaza Los Pinos is a neighborhood shopping center situated in Tocumen district of Panama City, along the Pan-American Highway towards Darien. Developed as a local retail hub, it spans approximately 10,000 square meters of gross leasable area, hosting around 40-50 tenants focused on everyday needs. The tenant mix comprises anchor stores such as a supermarket, pharmacy, and hardware outlets, complemented by apparel shops, electronics vendors, and quick-service restaurants like local eateries and fast food chains. Market position reflects a community-oriented venue serving middle-income residents in the expanding Tocumen area, near Tocumen International Airport, with emphasis on convenience rather than luxury retail. Occupancy rates hover between 85% and 92%, according to regional commercial real estate data, indicating stable demand despite economic fluctuations in Panama&#39;s retail sector. Rent levels range from $10 to $16 per square meter per month, positioning it as an affordable option for small to medium-sized retailers compared to premium malls like Multiplaza. Accessibility benefits from direct connection to the Pan-American Highway and proximity to Las Mananitas Metro station, approximately 500 meters away, enhancing public transport linkage for commuters and airport workers. Demographic profile targets families with median household incomes of $1,200-$2,000 monthly, young professionals, and service sector employees, supported by a local population exceeding 120,000 and growing due to residential developments. Operational quality includes basic amenities like parking for 200 vehicles and security, though some reports note occasional maintenance needs in common areas. Leasing advantages encompass low overhead costs, reliable local footfall of 4,000-7,000 daily visitors, and flexibility for pop-up or short-term leases; however, drawbacks involve limited national brand presence, vulnerability to highway traffic disruptions, and competition from larger regional centers that capture higher spending power. Contextual market factors, including Panama&#39;s 4-5% annual retail growth, favor such locales for essential goods categories, but saturation in groceries poses risks for new entrants.&quot;,&quot;city&quot;:{&quot;name&quot;:&quot;Panamá&quot;},&quot;anchor_tenants&quot;:&quot;Farmacia, Fantastic Casino, Parada Sabrosa&quot;,&quot;distance&quot;:17.19,&quot;cover_photo&quot;:null,&quot;key_stats&quot;:{&quot;retail_stores_count&quot;:&quot;65&quot;,&quot;gla_sqm&quot;:&quot;4000&quot;,&quot;anchor_tenants&quot;:&quot;Farmacia, Fantastic Casino, Parada Sabrosa&quot;}}]}" data-map-update-url-value="/malls/centro-comercial-bella-vista" id="mall-map-wrapper"><div data-city="Panamá" data-current-mall="true" data-id="centro-comercial-bella-vista" data-lat="8.9833" data-lng="-79.5167" data-map-target="mall" data-name="Centro Comercial Bella Vista" style="display: none;"></div><div data-map-target="map" id="map"></div><div class="demographic-panel collapsed" data-map-target="demographicPanel"><div class="panel-header"><h4><i aria-hidden="true" class="ri-bar-chart-line"></i> Market Demographics</h4><button class="toggle-btn" onclick="this.parentElement.parentElement.classList.toggle(&quot;collapsed&quot;)"><i aria-hidden="true" class="ri-arrow-down-s-line"></i></button></div><div class="panel-content"><div class="stats-category"><h5>Mall Demographics</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">5 km</div><div class="stat-label">Primary Catchment Area</div></div><div class="stat-card"><div class="stat-value">15 km</div><div class="stat-label">Secondary Catchment Area</div></div><div class="stat-card"><div class="stat-value">150,000 People</div><div class="stat-label">Catchment area population</div></div><div class="stat-card"><div class="stat-value">1.5</div><div class="stat-label">Population growth rate</div></div></div></div><div class="stats-category"><h5>Economic Indicators</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">2,500 USD per month</div><div class="stat-label">Median household income</div></div><div class="stat-card"><div class="stat-value">7.2</div><div class="stat-label">Unemployment rate</div></div><div class="stat-card"><div class="stat-value">95 Index (US=100)</div><div class="stat-label">Cost of living index</div></div></div></div><div class="stats-category"><h5>Consumer Spending</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">1,200 USD per year</div><div class="stat-label">Retail spending per capita</div></div><div class="stat-card"><div class="stat-value">250 USD per year</div><div class="stat-label">Spending on apparel</div></div><div class="stat-card"><div class="stat-value">450 USD per year</div><div class="stat-label">Spending on groceries</div></div><div class="stat-card"><div class="stat-value">150 USD per year</div><div class="stat-label">Spending on electronics</div></div></div></div><div class="stats-category"><h5>Mall Traffic &amp; Performance</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">500,000 Visitors</div><div class="stat-label">Annual foot traffic</div></div><div class="stat-card"><div class="stat-value">45 Minutes</div><div class="stat-label">Dwell time</div></div><div class="stat-card"><div class="stat-value">20.0</div><div class="stat-label">Conversion rate</div></div><div class="stat-card"><div class="stat-value">800 USD per year</div><div class="stat-label">Sales per square meter</div></div></div></div><div class="stats-category"><h5>Competition &amp; Tenant Mix</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">25 Stores</div><div class="stat-label">Number of retail stores</div></div><div class="stat-card"><div class="stat-value">Yes</div><div class="stat-label">Anchor tenant presence</div></div><div class="stat-card"><div class="stat-value">3 per km²</div><div class="stat-label">Competitor density (same category)</div></div><div class="stat-card"><div class="stat-value">Medium</div><div class="stat-label">Tenant diversity</div></div></div></div><div class="stats-category"><h5>Real Estate &amp; Leasing</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">2,500 sqm</div><div class="stat-label">Gross Leasable Area</div></div><div class="stat-card"><div class="stat-value">1 Levels</div><div class="stat-label">Number of Levels</div></div><div class="stat-card"><div class="stat-value">15 USD per month</div><div class="stat-label">Average rent per square meter</div></div><div class="stat-card"><div class="stat-value">5.0</div><div class="stat-label">Vacancy rate</div></div></div></div><div class="stats-category"><h5>Accessibility &amp; Infrastructure</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">0.1 km</div><div class="stat-label">Proximity to main roads</div></div><div class="stat-card"><div class="stat-value">High</div><div class="stat-label">Public transport access</div></div><div class="stat-card"><div class="stat-value">50 Spaces</div><div class="stat-label">Parking spaces</div></div><div class="stat-card"><div class="stat-value">High</div><div class="stat-label">Pedestrian traffic</div></div></div></div><div class="stats-category"><h5>Digital &amp; E-commerce Trends</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">Medium</div><div class="stat-label">E-commerce competition</div></div><div class="stat-card"><div class="stat-value">15.0</div><div class="stat-label">Click-and-collect adoption</div></div><div class="stat-card"><div class="stat-value">85.0</div><div class="stat-label">Internet penetration</div></div></div></div><div class="stats-category"><h5>Safety &amp; Security</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">Low</div><div class="stat-label">Retail crime rate</div></div><div class="stat-card"><div class="stat-value">CCTV and Guards</div><div class="stat-label">Security measures</div></div></div></div><div class="stats-category"><h5>Marketing &amp; Events</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">Monthly</div><div class="stat-label">Promotional events</div></div><div class="stat-card"><div class="stat-value">10.0</div><div class="stat-label">Loyalty program penetration</div></div><div class="stat-card"><div class="stat-value">Yes</div><div class="stat-label">Digital signage presence</div></div></div></div><div class="stats-category"><h5>Growth Potential</h5><div class="stats-grid"><div class="stat-card"><div class="stat-value">3.0</div><div class="stat-label">Projected foot traffic growth</div></div><div class="stat-card"><div class="stat-value">5 Tenants</div><div class="stat-label">New tenant pipeline</div></div><div class="stat-card"><div class="stat-value">nan</div><div class="stat-label">Mall expansion plans</div></div></div></div></div></div></div></template></turbo-stream>