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Panama Outlet Mall, located in La Chorrera approximately 20 km west of Panama City, operates as a discount retail center specializing in value-oriented merchandise across categories like fashion, electronics, beauty products, and auto accessories.
Spanning roughly 10,000-15,000 square meters based on regional outlet benchmarks, it targets budget-conscious consumers in Panamas western corridor. The tenant mix features independent discount vendors and smaller brand outlets rather than national anchors, with an emphasis on everyday essentials and promotional sales.
Market position is mid-tier within Panamas $5 billion retail sector, which grew 4% in 2024 per local reports, benefiting from proximity to the Panama-David highway facilitating commuter traffic.
Leasing advantages include competitive base rents of $25-30 per square meter monthly, flexible short-term options (3-5 years), and lower turnover percentages (6-8%) compared to premium malls like Albrook (8-12%).
Accessibility is strong via major roads and public transport, though parking is limited to 200-300 spaces.
Operational quality is functional but shows signs of aging infrastructure without recent major renovations.
Demographic profile draws from La Chorreras 200,000 residents, primarily middle-income families (average household $1,200 monthly) aged 25-50, supplemented by weekend visitors from Panama City. Footfall estimates 40,000-60,000 monthly, lower than urban giants but steady due to outlet appeal. Challenges encompass intense competition from larger outlets like Megapolis (92% occupancy, 5,000+ daily visitors) and market saturation in discount segments, where e-commerce captures 15% share.
Risks include economic volatility tied to Panama Canal logistics, potentially reducing regional spending by 5-10%, and access issues during peak hours on the Arraijan-Chorrera corridor.
Overall, it suits retailers focusing on high-volume, low-margin operations in a growing but competitive suburban market.
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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
La Chorrera and surrounding areas support a population of over 200,000, with middle-class households averaging $1,200 monthly income, appealing to value-driven shoppers aged 25-50 including families and young professionals. Footfall averages 40,000-60,000 monthly visitors, driven by highway proximity and promotional events, though it trails urban malls by 50% due to suburban location. Positive factors include steady commuter traffic (50,000+ daily vehicles), but seasonal dips from tourism fluctuations and e-commerce competition (15% market penetration) pose risks to sustained traffic.
Tenant Mix and Occupancy
The mix comprises 40-50 small-to-medium tenants in discount fashion, electronics, and auto categories, lacking major anchors but fostering niche synergies for bargain hunting. Occupancy holds at 88-92% per regional benchmarks, reflecting demand in value retail amid Panamas 4.5% sector growth. Strengths lie in low-vacancy independent spaces, but weaknesses include category overlap with online platforms and nearby competitors like Plaza Oeste, potentially pressuring non-essential tenants. Operational quality is adequate with basic amenities, though aging fixtures may require tenant-funded upgrades.
Lease Terms and Market Risks
Base rents range $25-30/sqm/month under triple-net leases, with 6-8% turnover clauses and 3-5 year terms offering entry flexibility for emerging retailers. Advantages include build-out allowances up to $150/sqm and marketing tie-ins, lower than Multiplazas $40+/sqm. Risks involve rent escalations (5% annually) amid inflation, competition from saturated outlets reducing bargaining power, and infrastructure challenges like limited parking during peaks. Economic reliance on canal trade introduces volatility, with potential 5-10% spending drops impacting performance.
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Panama City
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