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Plaza Boulevard Alajuela, located in Rio Segundo near Juan Santamaria International Airport, is a 50,000 sqm two-level mall with 150 stores, opened in 2005. It targets middle-income demographics in Alajuela (pop. 300,000+), with average incomes of $1,200/month, serving families, airport staff, and industrial workers.
Tenant mix: 35% F&B (Starbucks, Rosti Pollos), 25% services, 20% apparel (Mango), 20% specialty. Anchors: supermarket, pharmacy, cinema, Banco de Costa Rica. Occupancy 85-90%, footfall 4,000-6,000 daily (4M annual), dwell time 90 min. Rents $18-25/sqm/month (avg $20), 3-5 yr leases with pop-up flexibility. Strong highway access via Route 1, public buses every 15 min, 300 parking spots. Market: 92% regional occupancy, 4% econ growth.
Advantages: transient traffic (20-30%), logistics proximity, diverse mix. Drawbacks: competition from City Mall, e-commerce, seasonality, aging infra, flooding risks.
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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 Catchment
The primary catchment includes 425,000 people within 5km, average age 32, 3.2 persons/household, 3% annual growth. 60% visitors aged 25-45, middle-income $1,200/month, consumer spending $2,000/year total ($300 food, $1,500 apparel). Supports stable demand for essentials from local families and industrial parks employing thousands.
Competition and Market Risks
Competes with City Mall Alajuela (365 stores, 10M visitors/year, 25,000 daily footfall) for premium spending, and smaller plazas for services. Alajuela market saturated in food (35% mix here). Risks: market share loss to larger venues, e-commerce (15% impact), seasonal tourism fluctuations, 11% unemployment indicator. Overall 92% regional occupancy but potential erosion.
Lease Terms and Operational Quality
Leases 3-5 years at $20/sqm/month incl. CAM fees, medium flexibility for pop-ups. Occupancy 85-90%, 300 parking, CCTV security (2 incidents/1,000 visitors). Weekly events engage 30% visitors. Strengths: efficient ops, airport-driven footfall. Weaknesses: aging infrastructure (recent HVAC/lighting upgrades), parking congestion, limited pedestrian paths, occasional flooding.
Building Details
Detailed Market Analytics
City Snapshot
Alajuela
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City Snapshot
Alajuela
Comprehensive market intelligence for retail expansion in this city
