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Centro Comercial Plaza del Oeste is a neighborhood shopping center located at the intersection of PR-2 and PR-122 in San Germán, Puerto Rico, serving as a key retail hub at the citys entrance. Opened in the late 20th century, it features approximately 100,000 square feet of gross leasable area, anchored by Econo Supermercado, the regions largest grocery tenant. The tenant mix includes essential services such as PharmaMax pharmacy occupying the former Kmart space (around 40,000 sq ft), Pep Boys for auto parts, Me Salve drugstore, Grands hardware store, and smaller food outlets like Gratitud Patisserie & Café and Açaí Express.
Occupancy stands at about 85-90% as of recent commercial listings, with spaces available for lease ranging from 650 to 8,000 sq ft at rates of $15-20 per sq ft annually, triple net. Footfall is estimated at 5,000-7,000 daily visitors, driven by local residents rather than tourists, benefiting from high visibility on major highways connecting to Mayagüez and other western towns.
Accessibility is strong via vehicle, with ample parking, though public transit is limited in this rural area. The centers market position is stable in a town of 12,000 residents with a median household income of $18,000, focusing on everyday needs amid Puerto Ricos post-hurricane recovery.
Leasing advantages include low competition from big-box retailers and proximity to the University of Puerto Rico at Mayagüez (20 miles away), potentially drawing student traffic. However, challenges include economic stagnation in western Puerto Rico, with retail sales growth lagging at 2-3% annually per ICSC reports, vulnerability to power outages as seen in 2020, and an aging infrastructure requiring maintenance.
Demographic profile: 95% Hispanic, families with children, emphasizing value-oriented shopping.
Operational quality is average, with basic amenities but no upscale dining or entertainment to boost dwell time.
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Hours of Operation
Hours
| Monday | 09:00 AM — 07:00 PM |
| Tuesday | 09:00 AM — 07:00 PM |
| Wednesday | 09:00 AM — 07:00 PM |
| Thursday | 09:00 AM — 07:00 PM |
| Friday | 09:00 AM — 07:00 PM |
| Saturday | 09:00 AM — 07:00 PM |
| Sunday | 11:00 AM — 05:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
San Germán has a population of approximately 12,000, with a median age of 42 and household income around $18,000, per U.S. Census data. The area is predominantly Hispanic (over 95%), with many families and retirees focused on budget-conscious purchases. Footfall at Plaza del Oeste averages 5,000-7,000 daily, peaking on weekends due to grocery and pharmacy needs, but lacks tourist draw compared to coastal centers. This supports steady but modest traffic for essential retail, though seasonal hurricanes can disrupt patterns, reducing visits by up to 30% during storms.
Tenant Mix and Occupancy
The center hosts a practical mix of anchors like Econo Supermercado (grocery), PharmaMax (pharmacy in ex-Kmart space), Pep Boys (auto), Grands (hardware), and Me Salve (drugstore), alongside quick-service food such as Açaí Express and Gratitud Café. Occupancy hovers at 85-90%, with recent additions like Pharmamax boosting stability. This configuration caters to daily necessities, minimizing vacancy risks in a small market, but lacks fashion or entertainment tenants, limiting cross-shopping opportunities and potential sales per sq ft, which average $300-400 annually per local CRE reports.
Lease Terms and Risks
Available spaces lease at $15-20 per sq ft NNN, with terms of 5-10 years and concessions for build-outs up to $20 per sq ft. Advantages include highway frontage for 20,000+ daily vehicles and low turnover. Risks encompass regional economic challenges, with Puerto Rico retail vacancy at 10-12% amid population decline (down 2% yearly), competition from nearby Mayagüez malls like Mayagüez Mall (15 miles away, drawing 50% more traffic), and infrastructure issues like frequent outages affecting operations. Market saturation in groceries and pharmacies could pressure rents downward by 5-10% in saturated categories.
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San Germán
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San Germán
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