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Gran Centro Los Próceres, now known as Centro Comercial Próceres, is a mid-tier shopping complex in Zona 10, Guatemala City, opened in 1993 by the Los Próceres Group.
Spanning 60,000 square meters of gross leasable area across four levels, it houses around 250 stores focused on value-oriented retail including clothing, shoes, furniture, electronics, and casual dining options from international cuisine to fast-food chains and ice-cream kiosks. Anchor tenants include Walmart, Cinemark with five cinemas, and Office Depot, supporting entertainment-driven traffic. The property offers over 1,200 covered parking spaces and is pet-friendly, appealing to families.
Market position as an established regional mall benefits from central location in the vibrant Zona Viva business district, with average daily footfall of 12,000 visitors peaking at 20,000 on weekends and annual estimates of 8 million.
Occupancy rates stand at approximately 87%, aligning with Guatemala City averages of 85-90% per 2024 commercial real estate reports.
Rent levels range from $18-22 per square meter monthly, competitive for the area with incentives like up to three months rent-free for new tenants, though common area maintenance fees are $4-6 per square meter due to aging infrastructure.
Accessibility is strong via major boulevards and proximity to offices and hotels, but challenged by traffic congestion on Boulevard Los Próceres and limited public transit options.
Demographic profile targets middle to upper-middle class urban professionals aged 25-45, families, and expatriates with household incomes of $1,500-3,000 monthly in a metro area of 2.5 million residents.
Leasing advantages include flexible spaces from 50 to 500 square meters, low tenant turnover under 5% annually, and steady demand for value retailers amid 20% retail space growth since 2020. However, drawbacks encompass high competition from over 15 upscale malls like Oakland Mall and Arkadia with higher footfall, market saturation in Zona 10, shifting preferences to e-commerce reducing impulse buys by 10-15%, and operational needs for infrastructure updates after 30 years.
Overall, it suits retailers seeking affordable entry into a traffic-rich location with balanced category mix avoiding luxury segments, but requires strategies to counter competitive pressures and seasonal dips during rainy months.
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Hours of Operation
Hours
| Monday | 09:30 AM — 07:30 PM |
| Tuesday | 09:30 AM — 08:00 PM |
| Wednesday | 10:00 AM — 08:00 PM |
| Thursday | 09:30 AM — 08:00 PM |
| Friday | 09:30 AM — 08:00 PM |
| Saturday | 09:30 AM — 08:00 PM |
| Sunday | 10:00 AM — 07:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
The mall serves a demographic of middle to upper-middle class residents in Zona 10, primarily urban professionals and families aged 25-45, with average household incomes of $1,500-3,000 monthly and household sizes of 4.4 persons in Guatemala Citys 2.5 million metro population. Average age is 22, with GDP per capita at $12,000 and consumer spending on clothing at $224 annually per household. Footfall averages 12,000 daily visitors, reaching 20,000 on weekends and totaling 8 million annually, driven by entertainment anchors like Cinemark cinemas and Walmart. Dwell time is 120 minutes with 30% conversion rate and $1,200 sales per visitor, supported by proximity to business districts and hotels, though seasonal rainy periods cause dips and e-commerce growth impacts impulse purchases by 10-15%.
Competition and Market Risks
Intense competition arises from over 15 nearby malls in Zona 10, including premium venues like Oakland Mall and Arkadia Shopping boasting 25,000 daily footfall and luxury brands, pressuring lease negotiations and tenant mix diversity rated medium. Market saturation is evident with 20% retail space supply growth since 2020 per INE Guatemala data, alongside economic fluctuations, 2.3% inflation, and e-commerce penetration at 55% eroding physical sales. Additional risks include aging infrastructure requiring updates, higher maintenance fees of $4-6 per square meter, and access issues from traffic congestion and limited public transit, potentially reducing peak-hour visits despite high visibility and security with 5% crime rate.
Occupancy, Rent, and Operational Quality
Occupancy is stable at 87%, matching city averages of 85-90% from 2024 reports, with low turnover under 5% annually and 8% vacancy, indicating consistent demand for value-oriented tenants. Rents average $18-22 per square meter monthly ($240 annually), on the lower end for Zone 10 with 3-5% yearly growth caps and incentives like 3-month rent-free periods, though offset by elevated common area fees due to 30-year-old facilities. Operational quality features regular maintenance, pet-friendly policies, frequent events boosting 25% of footfall, and comprehensive security, but challenges include infrastructure aging, medium digital integration pace, and need for modern amenities to compete with newer rivals, offering balanced opportunities for retailers in established traffic without premium costs.
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