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Plaza Contemporánea is a mid-sized shopping center located in the Roma Norte neighborhood of Mexico City, covering approximately 45,000 square meters of gross leasable area. Opened in 2015, it positions itself as a contemporary retail destination targeting urban millennials and young professionals in the bustling Cuauhtémoc borough. The tenant mix includes a balanced selection of international and local brands: fashion outlets like Zara and local designers, dining options from casual eateries to upscale cafes such as Starbucks and independent Mexican cuisine spots, and entertainment anchors including a Cinépolis cinema with 8 screens.
Occupancy rates stand at around 92% as per recent commercial real estate reports, reflecting stable demand in a competitive market. Footfall averages 1.2 million visitors monthly, driven by its proximity to trendy residential areas and cultural hotspots.
Accessibility is strong via public transport, with nearby Metrobús lines and easy pedestrian access from Insurgentes Avenue.
Rent levels range from 25 to 35 USD per square meter per month, competitive for the area, offering leasing advantages like flexible terms for pop-up stores and collaborative marketing with anchors. Market factors include Mexico Citys retail sector growth at 4.5% annually, but challenges from e-commerce saturation and economic volatility post-2020. Strengths lie in its vibrant tenant diversity enhancing dwell time, while weaknesses include limited parking (500 spaces) amid high urban density.
Risks involve nearby competition from larger malls like Reforma 222, potentially diluting footfall during peak seasons.
Overall, it suits retailers seeking exposure to affluent demographics with moderate entry costs.
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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
The primary demographic profile features residents aged 25-40 in the Cuauhtémoc borough, with household incomes averaging 25,000-50,000 MXN monthly, per INEGI census data. This group represents 60% of visitors, favoring lifestyle and experiential retail. Surrounding areas have high education levels, with 70% holding university degrees, supporting demand for premium fashion and gourmet food. However, seasonal influx from tourists boosts diversity, though local saturation in casual dining may challenge new entrants in that category.
Competition
Plaza Contemporánea faces intense competition from upscale centers like Antara Polanco (15 km away) and Espacio Condesa (2 km), which boast higher luxury tenant mixes and footfall exceeding 1.5 million monthly. Local street retail on Avenida Álvaro Obregón adds pressure on fashion categories. Market reports from CBRE indicate CDMX retail vacancy at 8%, with power centers dominating sales volumes. Opportunities exist in niche local brands, but risks include market share erosion if infrastructure upgrades lag in competitors.
Lease Terms
Leasing terms offer base rents of 25-35 USD/sqm/month, with additional 10-15% for common area maintenance and promotions. Minimum lease duration is 3 years for anchor spaces, with incentives like rent abatements for first 6 months for qualifying tenants. Escalations are tied to CPI, averaging 4% annually. Advantages include turnkey spaces and co-tenancy clauses ensuring 85% occupancy thresholds. Drawbacks encompass high security deposits (3 months rent) and restrictions on subletting, per standard CRE agreements in Mexico City, potentially increasing upfront costs for smaller retailers.
Building Details
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City Snapshot
Mexico City, CMX
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Interested in this property?
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City Snapshot
Mexico City, CMX
Comprehensive market intelligence for retail expansion in this city
