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Plaza de la Libertad is a neighborhood shopping center on Avenida 12 de Octubre in Pueblo Nuevo district, Panama City, Panama. Established in early 2000s and built in 2010, it spans 8,000-10,000 square meters of gross leasable area over two levels, offering spaces from 50-300 square meters.
Tenant mix prioritizes convenience: pharmacies like Farmacias Arrocha, Banco General branches, fast-casual eateries, clothing boutiques, medical clinics, beauty salons. Anchors include Starbucks and Smart Fit, with 25 stores total. Occupancy stands at 80-90%, matching Panama City 12% vacancy average per CBRE reports. Daily footfall of 4,000-6,000 draws from 45,000 residents within 2 km and 150,000 within 5 km, featuring middle-class families, young professionals, average household income $1,200-$2,000 monthly, age 30 years.
Rent levels $15-25 per square meter monthly, 5-7% annual escalations, lower than Multiplaza $40+.
Accessibility via 1 km to Santo Tomas metro, buses, 40,000+ daily vehicles, 150-200 parking spaces.
Market position stable in urban corridor, leveraging density and commuters, but competes with Soho Mall, Multiplaza.
Leasing advantages: flexible 3-5 year terms, short-term options, consistent local traffic for value retail. Challenges: aging HVAC, category saturation in fast food/pharmacies, economic risks from Panama Canal fluctuations. Annual sales per square meter $250-600, below premium malls $400+ per Colliers reports.
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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
Pueblo Nuevo area demographics include 45,000 residents within 2 km, middle-class with $1,200-$2,000 monthly household incomes, average age 30, favoring value purchases in essentials/services per Panama census. Daily footfall 4,000-6,000 from locals/commuters supports convenience retail, with monthly events drawing 15% visitors. Seasonal holiday dips reduce traffic 20%, impacting non-essentials; average dwell time 30 minutes aids sales conversion at 20%.
Competition and Market Risks
Medium competition from upscale Multiplaza/Soho Mall attracts premium brands, higher $400+ sales per square foot. Local saturation in fast food/pharmacies risks margin pressure for similar tenants, amid 12% citywide vacancy per CBRE. Economic volatility from logistics/Panama Canal ties potential slowdowns, affecting discretionary spending; 3 competitors per km2 heighten entry barriers for weak categories like electronics.
Lease Terms and Operational Quality
Affordable rents $15-25 per sqm/month inclusive of maintenance, flexible 3-5 year leases with short-term options, no abatements noted. Occupancy 80-90% signals stability, but 2010 infrastructure aging (outdated HVAC) may raise tenant costs $2-3 per sqm utilities. High accessibility/visibility strengths offset parking turnover issues during peaks; e-commerce at 30% sales influences operational shifts toward omnichannel.
Building Details
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Panama City
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