Parque Las Antenas Photo Gallery

Occupancy at Parque Las Antenas reached 90.3% by end-2024, aligning with FIBRA DANHOS retail portfolio average of 93.3%, indicating robust demand in a recovering post-pandemic market. NOI grew 8.3% to 433 million MXN annually, fueled by 9.2% increase in fixed rents and overages, reflecting effective lease management and tenant stability. Lease spreads averaged 5.4% on renewals covering 20,732 sqm, suggesting moderate upward pressure on rates without excessive hikes. Visitor traffic for the portfolio surged 16% to 130 million in 2024, implying strong local draw, though specific footfall data for the property is unavailable; historical 2019 figures exceeded 184 million, highlighting potential for high volume but also operational strain from crowds. Delinquency remains low at 1.31% portfolio-wide, minimizing revenue risks.

The surrounding area in Iztapalapa and Xochimilco features over 1.8 million residents, predominantly middle- to lower-middle-income families with average household incomes of 10,000-15,000 MXN monthly, per INEGI data, fostering demand for affordable retail and dining. This demographic supports consistent everyday shopping, with high reliance on public transport; the mall is accessible via Metrobús lines and avenues like Ermita-Iztapalapa, though traffic congestion on peripheral roads can hinder vehicle access, with 4,351 spaces often at capacity during peaks. Proximity to residential developments enhances walk-in traffic, but urban density contributes to security concerns and informal vending competition outside the center. Overall, the location bolsters leasing for value-oriented tenants, yet requires strategies to manage access bottlenecks for optimal performance.

The tenant mix emphasizes anchors (Liverpool, Sears, Walmart) comprising 40% of GLA, balanced by 30% fashion/sports, 15% F&B, and 15% entertainment/services, promoting synergy and dwell time. Strengths include diverse offerings attracting families, but weaknesses arise from saturation in fast fashion, with over 50 apparel stores potentially diluting sales per unit. Competition includes nearby Plaza Oriente and Perisur, plus informal tianguis markets drawing budget shoppers, pressuring mid-tier rents. Risks encompass economic slowdowns affecting lower-income spending, as seen in 2023 portfolio footfall growth of 22% amid recovery, and infrastructure needs like road upgrades to sustain 1.8 million annual vehicles. Market saturation in Mexico Citys east side limits expansion, advising caution on category overlaps in new leases.