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Plaza Obelisco is a mid-sized shopping center located at 16 Calle in Zona 10, Guatemala City, near the iconic Obelisco monument and major avenues including Avenida Reforma and Boulevard Los Proceres. Opened as part of the city's commercial landscape, it spans approximately 15,000 square meters with a focus on convenience retail and dining. The property benefits from high visibility due to its central position in a bustling urban area with excellent connectivity via public transport and major roads, though traffic congestion is common.
Tenant mix comprises about 40% fashion and accessories stores, 30% casual dining and food services, 15% entertainment and services like musical instrument shops, and 15% automotive showrooms including car dealerships. Notable anchors include international chains such as Hooters, Subway, and local favorites like Taqueria El Pinche and Mono Loco, attracting a mix of local shoppers and travelers. Occupancy stands at around 85-90% based on regional averages, with footfall estimated at 200,000-300,000 monthly visitors, driven by its proximity to office districts and residential zones.
Rent levels range from 8-12 USD per square meter per month, competitive within the market where city-wide averages are 10 USD/sqm/month.
Accessibility is strong with on-site parking for 500 vehicles, some complimentary through tenants, and medium public transport links in Zona 10. The demographic profile targets middle-income urban professionals and families, with Guatemala City's 3.2 million population featuring a median household income of 12,000 USD annually and 62% in the 15-64 age group.
Market position is solid for neighborhood retail, supported by 2% annual retail growth, but faces saturation from 15 competing malls like Oakland Mall and Miraflores.
Leasing advantages include flexible terms for smaller spaces (50-200 sqm), promotional support from management, and potential for pop-up events near the plaza. However, challenges include aging infrastructure in some areas, high competition in dining categories, and security concerns with city-wide crime rates at 39.9 homicides per 100,000.
Overall, it offers balanced opportunities for retailers seeking accessible urban exposure amid a market with 5% projected growth in retail space demand.
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Hours of Operation
Hours
| Monday | 08:00 AM — 11:00 PM |
| Tuesday | 08:00 AM — 11:00 PM |
| Wednesday | 08:00 AM — 11:00 PM |
| Thursday | 08:00 AM — 11:00 PM |
| Friday | 08:00 AM — 11:00 PM |
| Saturday | 08:00 AM — 11:00 PM |
| Sunday | 08:00 AM — 11:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
Plaza Obelisco serves a primary trade area of 500,000 residents in Zonas 9-11, characterized by urban middle-class families and young professionals with household sizes averaging 4.5 and literacy rates at 80%. Consumer spending emphasizes apparel (15%) and dining (20%), with per capita retail sales at 5,000 USD annually. Footfall averages 250,000 monthly visitors, peaking on weekends due to nearby events at the Obelisco plaza, though high vehicle traffic reduces walk-ins. This supports steady performance for convenience-oriented tenants but highlights risks from price-sensitive shoppers preferring larger malls for major purchases.
Competition and Market Saturation
The center competes with 15 major malls in Guatemala City, including nearby Oakland Mall and Tikal Futura, which draw 50 million annual visits city-wide. Local saturation is medium, with 500+ stores in the vicinity focusing on supermarkets and fashion, leading to 10% retail leakage to premium destinations like Zona Viva. Strengths include unique automotive and entertainment niches, but weaknesses arise from overlapping casual dining options, potentially diluting sales in saturated categories. Retail growth is projected at 4% annually, offering opportunities for differentiated tenants amid low e-commerce penetration (12%).
Lease Terms and Operational Risks
Leasing rates at Plaza Obelisco range 8-12 USD/sqm/month, below city averages for smaller units, with terms typically 3-5 years including base rent plus 8-10% turnover. Advantages encompass management-assisted marketing and high accessibility via major boulevards, with parking ratios of 1:50 sqm. Operational challenges involve variable occupancy (85%) due to economic fluctuations and infrastructure maintenance needs, alongside city-wide risks like shoplifting (5% of losses) and congested access during peak hours (45-minute average commutes). Sustainable practices are emerging, but aging elements may require tenant investments for long-term viability.
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Guatemala City
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Guatemala City
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