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The John F. Kennedy Shopping Centre, located on John F. Kennedy Drive in Nassau, Bahamas, serves as a mid-sized retail hub in the western district of New Providence. Positioned near Oakes Field and accessible via the main highway connecting downtown to residential areas, it caters primarily to local residents and some tourists exploring beyond central Nassau. The property spans approximately 50,000 square feet with around 20-25 tenant spaces, featuring a mix of everyday essentials, dining, and services.
Tenant mix includes supermarkets like Super Value, pharmacies, clothing stores, fast-food outlets such as local eateries and international chains, and professional services like banks or clinics.
Market position reflects Nassau's tourism-driven economy, where retail contributes to the 70% GDP from tourism and related services, with annual visitor numbers exceeding 8 million, 85% from the US.
Leasing advantages include stable local demand from a population of 296,000 on New Providence, proximity to residential neighborhoods, and on-site parking for 200+ vehicles. Footfall estimates average 5,000-7,000 daily visitors, higher on weekends, supported by the island's 4.3% GDP growth projection for 2023.
Occupancy rates hover at 85-90%, typical for secondary retail in Nassau amid economic rebound post-pandemic.
Rent levels range from $12-18 per square foot annually on a triple net basis, competitive against prime downtown spots at $25+.
Accessibility via jitney buses ($1.25 fare) and taxis ($10-20 from downtown) enhances reach, though traffic on JFK Drive can pose delays.
Demographic profile targets middle-income families (median household income ~$30,000 BSD), young professionals, and budget-conscious tourists seeking authentic Bahamian experiences over luxury.
Operational quality is solid with daily hours from 8 AM to 9 PM, clean facilities, and occasional cultural events. However, challenges include competition from larger venues like the Mall at Marathon (100+ stores) and saturation in grocery/fast-food categories, potentially pressuring weaker tenants.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
Nassau's population of 296,522 on New Providence drives steady local traffic to the centre, with a demographic skew toward middle-income households earning $25,000-$40,000 BSD annually, including families and working professionals in tourism and services. Visitor influx benefits from 8 million annual tourists, though only 10-15% venture to western districts like JFK Drive, yielding 5,000-7,000 daily footfall. Peak periods align with cruise ship arrivals and weekends, but weekday lulls reflect reliance on commuters. This profile supports stable sales in essentials but limits high-end retail viability, with risks from 8.8% unemployment impacting discretionary spending.
Competition and Market Factors
The centre faces moderate competition from nearby Oakes Field outlets and the dominant Mall at Marathon, Nassau's largest indoor mall with 100 tenants drawing 20,000+ daily visitors via better anchoring (e.g., department stores). Downtown Bay Street and Paradise Island's Atlantis complex capture luxury/tourist segments, contributing to market saturation in souvenirs and dining (over 500 vendors island-wide). Local factors like tourism recovery (projected 4.3% GDP growth) bolster performance, but economic vulnerabilities from hurricane risks and import dependency (90% of goods) can elevate operational costs by 15-20%. Strengths lie in underserved local needs, reducing direct overlap.
Lease Terms and Risks
Leasing at $12-18 PSF NNN includes common area maintenance, taxes, and insurance passed to tenants, with typical terms of 5-10 years and 3-5% annual escalations. Advantages encompass flexible spaces (500-5,000 SF) and incentives like rent abatements for anchors. Risks involve aging infrastructure (built 1980s, some updates needed), potential access issues from JFK Drive congestion during peak hours, and category weaknesses in non-essentials amid retail saturation. High occupancy (85-90%) signals demand, but turnover in weaker spots (e.g., apparel) averages 15% yearly, influenced by broader market shifts toward e-commerce and post-COVID preferences.
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Nassau
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Nassau
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