Brand Fit Snapshot
Best for:
Not ideal if:
Similar properties you might like:
Quick assessment - takes 30 seconds
Centro Comercial Portales is a regional shopping center in Zone 11 of Guatemala City, Guatemala, with a gross leasable area of 60,000 square meters across two levels, opened in 2011. It serves as a neighborhood hub for middle-class residents, focusing on everyday retail needs rather than luxury offerings. The tenant mix includes over 100 stores, anchored by Figaly, Cinépolis cinema, Cemaco home goods, and Siman department store, with categories spanning apparel, supermarkets, pharmacies, fast food like Pollo Campero and Krispy Kreme, a food court featuring Guatemalan and international options, and family entertainment such as playgrounds.
Occupancy stands at approximately 90%, supported by daily footfall of 5,000-7,000 on weekdays and up to 10,000 on weekends, averaging 6,000 visitors per day or 2.5 million annually, with a 30% conversion rate and 2-hour dwell time.
Accessibility is facilitated by proximity to major roads and public bus routes, plus 1,500 free parking spaces, though peak-hour traffic congestion poses challenges. In the competitive Guatemala City retail market, where food sales grew 33% to $9.7 billion in 2024, Portales maintains a stable position as a community center resilient to e-commerce pressures, with 20% digital penetration.
Leasing advantages include competitive base rents of $15-20 per square meter monthly, 7-10% overage on sales thresholds, and flexible 3-5 year terms with renewal options, suitable for mid-tier and startup retailers. However, market saturation in apparel and fast food, competition from larger malls like Oakland Mall and Zona Pradera, and economic volatility affecting consumer spending present drawbacks.
Operational quality is average, with modern infrastructure but occasional maintenance issues in common areas, and low crime rates enhanced by CCTV and security.
Interested in this property?
Choose how you'd like to proceed
Advertise at this property?
Reach high-intent shoppers across digital screens, atria, and experiential placements.
Hours of Operation
Hours
| Monday | 10:00 AM — 08:00 PM |
| Tuesday | 10:00 AM — 08:00 PM |
| Wednesday | 10:00 AM — 08:00 PM |
| Thursday | 10:00 AM — 08:00 PM |
| Friday | 10:00 AM — 09:00 PM |
| Saturday | 10:00 AM — 09:00 PM |
| Sunday | 10:00 AM — 08:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
The primary demographic comprises middle-income families in Zone 11, with household earnings of $800-1,500 monthly, targeting urban professionals and young families averaging 22 years old, 4.5 persons per household, and 15% urban density within a 5 km radius of 300,000 people growing at 1.5% annually. Consumer spending averages $500 USD monthly, with $100 on food, $200 on apparel, and $50 on entertainment, emphasizing value-oriented purchases amid 3.5% GDP growth and inflation pressures. Footfall benefits from this local base, averaging 6,000 daily visitors, but fluctuates with school schedules and economic conditions, potentially limiting peak performance compared to tourist-driven malls. Strengths include family-friendly amenities boosting dwell time to 2 hours, while risks involve reduced traffic during economic downturns.
Tenant Mix and Competition
The diverse tenant mix of 170 stores balances national chains, local boutiques, and services like banks, with strengths in everyday essentials and entertainment drawing consistent local traffic. However, saturation in fast food and apparel categories pressures smaller tenants, and the absence of luxury or premium anchors limits appeal to higher-income shoppers. In Guatemala Citys retail landscape, Portales competes with nearby Metrocentro for similar mid-tier positioning and larger regional centers like Oakland Mall and Zona Pradera, which offer broader mixes and higher footfall, potentially diverting premium traffic and challenging lease sustainability for non-essential retailers amid 60% digital adoption and e-commerce growth.
Leasing Terms and Risks
Leasing terms feature base rents of $15-20 USD per square meter monthly, plus 7-10% overage on sales above thresholds, with 3-5 year leases providing flexibility for renewals, making it accessible for smaller retailers in a market with average property values of $1,425 USD per square meter. Advantages include high 90% occupancy and stable neighborhood demand, but drawbacks encompass traffic congestion delaying access, aging infrastructure risks in high-use areas, and market saturation increasing vacancy potential for weak categories. Broader risks involve economic volatility reducing non-essential spending and competition from e-commerce, with 3,000 square meters currently available, advising caution for long-term commitments without performance benchmarks.
Building Details
Detailed Market Analytics
City Snapshot
Guatemala City
Comprehensive market intelligence for retail expansion in this city
Other Retail Destinations in Guatemala City
Discover more shopping centers in Guatemala City.
Popular in Guatemala
Top retail destinations across Guatemala.
Interested in this property?
Choose how you'd like to proceed
Advertise at this property?
Reach high-intent shoppers across digital screens, atria, and experiential placements.
City Snapshot
Guatemala City
Comprehensive market intelligence for retail expansion in this city
