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Plaza Los Fundadores is a modest neighborhood commercial center in the San Francisco district of Ciudad de Panamá, Panama. Positioned on Avenida Los Fundadores near Via España, it serves the local community with essential retail and services. The tenant mix includes pharmacies such as Farmacias Metro, beauty and health outlets, small eateries, and various local shops catering to daily needs. With approximately 5,000-10,000 sqm of gross leasable area, it functions as a convenience hub rather than a regional draw.
Market position reflects Panama's robust retail sector, where neighborhood centers maintain steady performance amid economic growth projected at 4% for 2025.
Leasing advantages encompass affordable rents of $25-35 per sqm monthly, flexible spaces from 50-200 sqm, and proximity to middle-class residential areas with 100,000+ residents in the vicinity. Occupancy hovers around 85-90%, supported by high local demand and low vacancy in similar properties.
Accessibility is via major thoroughfares, though traffic congestion poses challenges.
Demographic profile features professionals and families with incomes of $2,000-5,000 monthly, driving consistent footfall of 3,000-6,000 daily.
Operational quality includes basic parking for 100+ vehicles and standard maintenance. Drawbacks involve competition from larger malls like Multiplaza (5 km away) offering broader mixes, potential infrastructure wear, and vulnerability to inflation or tourism fluctuations impacting Panama's economy.
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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
San Francisco neighborhood boasts a middle to upper-middle class demographic, with over 50,000 residents including young professionals, families, and retirees. Average household income ranges from $2,500 to $4,500 monthly, supporting demand for convenience goods. Footfall benefits from residential density and nearby offices, averaging 4,000-7,000 visitors daily, though limited by lack of entertainment anchors compared to prime malls. This ensures stable local traffic but modest sales volumes for non-essential retail.
Occupancy and Rent Levels
Occupancy rates in Panama City's neighborhood retail average 88-92% as of 2025, with Plaza Los Fundadores aligning due to its community focus and limited new supply. Rents are competitive at $25-35 per sqm monthly, below the $45-60 in upscale centers, enabling viable operations for small tenants. Lease structures often include 3-5 year terms with annual escalations of 5-8%, tied to CPI, providing predictability amid Panama's stable inflation of 2-3%.
Competition and Risks
Primary competition stems from nearby Multiplaza Pacific and Soho Mall, drawing higher-income shoppers with diverse tenants and higher footfall of 20,000+ daily. Local saturation in pharmacy and beauty categories may pressure margins. Risks include Panama City's chronic traffic issues delaying access, aging plaza infrastructure requiring capex, and economic sensitivity to global trade via the Canal, where slowdowns could reduce disposable income by 5-10%. Mitigation via targeted local marketing is advisable.
Building Details
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Panama City
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Panama City
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