Plaza San Rafael, Escazú — Stores, Map & Hours

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Brand Fit Snapshot

Best for:

Daily Essentials & GroceryLocal ServicesHealth & WellnessQuick-Service DiningSpecialty Retail

Not ideal if:

Destination RetailLarge Footprint RetailUltra-Luxury Positioning

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Retail Park Escazú Plaza Los Laureles Plaza San Rafael

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Plaza San Rafael is a neighborhood shopping center located in San Rafael de Escazú, an affluent suburb of San José, Costa Rica, approximately 10 km west of the city center. Built in 2005, it spans about 10,000 square meters of gross leasable area on a single level, serving a primary catchment area of 45,000 residents within a 5 km radius and 250,000 within 20 km. The center positions itself as a convenience-oriented retail hub, emphasizing daily essentials over destination shopping, in contrast to nearby regional malls like Multiplaza Escazú.

Tenant mix is balanced for local needs: 35% allocated to groceries and essentials anchored by Saretto supermarket and Farmacia Fischel; 25% to food and beverage including Pizza Picola Pub and Mi Kitchen; 20% to services such as Banco Nacional and pharmacies; and 20% to specialty retail. Occupancy stands at 87% as of 2024 data, reflecting stable demand in a market with 115 sqm of retail per 1,000 residents, though moderate saturation exists in casual dining.

Footfall averages 6,500 visitors daily, peaking at 9,000 on weekends, with an average dwell time of 30 minutes.

Rent levels range from $18 to $24 per square meter monthly, below the $35+ at premium sites, with 3-5 year leases including 5-7% overage on sales above $500 per sqm annually and 5% annual escalations.

Accessibility is strong via the General Cañas Highway, with 100-120 parking spaces (4:100 sqm ratio), though peak-hour congestion can add 5-10 minutes to travel times. The demographic profile supports consistent traffic: high-income households averaging $4,500 monthly, 30% expat population, median age 35.5, 70% tertiary education, and 85% vehicle ownership.

Leasing advantages include flexible terms for small-format retailers, proximity to growing residential developments driving impulse purchases, and operational features like CCTV security and quarterly events boosting engagement by 10%. However, challenges include competition from larger anchors like PriceSmart, aging infrastructure requiring maintenance, and e-commerce growth impacting 15% of non-essential sales.

Overall, it offers reliable performance for convenience-focused tenants in a resilient local market projected to grow 2-4% annually through 2025, tempered by Costa Ricas 3.5% inflation and tourism volatility.

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Hours of Operation

Hours

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Monday	09:00 AM — 06:00 PM
Tuesday	09:00 AM — 06:00 PM
Wednesday	09:00 AM — 06:00 PM
Thursday	09:00 AM — 06:00 PM
Friday	09:00 AM — 06:00 PM
Saturday	09:00 AM — 06:00 PM
Sunday	09:00 AM — 06:00 PM

Holiday Hours

Hours may vary on public holidays. Check with individual stores for specific holiday schedules.

Ruta 121, Escazú, Costa Rica

Insights

Demographics and Catchment

The primary catchment within 5 km includes 45,000 residents in affluent Escazú, characterized by high median household income of $4,500 USD monthly, 30% expatriate population, average age of 35.5 years, 3.2 persons per household, 70% with tertiary education, and 85% vehicle ownership. This supports strong demand for essentials and services, with consumer spending estimated at $3,000 annually per household on groceries ($500), dining ($1,200), and retail ($400). The areas economic stability, with 7.8% unemployment and $5,457 GDP per capita, fosters consistent footfall, though remote work trends may reduce midday visits by 10-15%. Broader 20 km radius adds 250,000 potential customers, enhancing spillover potential for promotions.

Competition and Market Risks

Plaza San Rafael faces competition from upscale Multiplaza Escazú (2 km away, 100,000 sqm GLA, 20,000 daily visitors focused on fashion and entertainment) and big-box retailers like PriceSmart, which capture 10-15% of potential traffic through broader offerings. Local saturation is moderate at 115 sqm retail per 1,000 residents, with 25% vacancy risk in casual dining and spillover effects from larger malls eroding non-essential sales. Sales per sqm average $8,000 annually for similar neighborhood centers, but e-commerce adoption (15-85% digital preference in categories) and economic caution amid 3.5% inflation pose challenges. Strengths lie in underserved niches like health services, with low overall risk due to community focus.

Lease Terms and Operational Quality

Leases typically span 3-5 years with base rents of $18-24 per sqm monthly, plus 5-7% overage on gross sales exceeding $500 per sqm annually, and 5% escalations tied to inflation. No current vacancies listed, indicating 87% occupancy stability. Operational aspects include ample parking (100-120 spaces), CCTV and guards for low-risk security, and quarterly marketing events achieving 10% tenant participation. Accessibility via General Cañas Highway is good, though infrastructure from 2005 shows aging signs potentially increasing maintenance costs by 5-10%. The centers single-level design aids efficiency, but peak parking strain and traffic delays highlight needs for traffic management to sustain 6,500 daily footfall.