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Super Barú Plaza is a neighborhood shopping center in David, Chiriquí, Panama, constructed in 2015 with 15,000 square meters of gross leasable area over two levels and owned by Super Barú S.A. It accommodates 60 stores, anchored by the Super Barú supermarket and complemented by local retailers specializing in groceries, basic apparel, and essential services. The tenant mix offers medium uniqueness with five distinctive outlets, catering primarily to daily shopping needs in a mid-tier market position.
Accessibility is strong with direct entry points and high-quality infrastructure, including 500 parking spaces to facilitate visitor convenience. Footfall metrics show 62,500 monthly visitors, totaling 1.2 million annually, with an average dwell time of 90 minutes and 25 percent repeat visits, supporting reliable traffic for lessees.
Rent levels are set at 18 USD per square meter per month, alongside an 8 percent vacancy rate and average available spaces of 1,200 square meters, reflecting stable leasing demand. The 10-kilometer catchment area encompasses 200,000 residents with an average age of 30 years, household size of 3.2, and 2.5 percent annual population growth, bolstered by David citys 160,000 population and 1.5 percent growth rate.
In a competitive environment with three malls per 100,000 residents, the property maintains medium operational quality through 12 annual events attracting 20 percent of customers and robust marketing.
Leasing advantages include 5 percent projected growth and 10 planned tenants, though drawbacks encompass medium tenant competition, basic security measures like CCTV and guards, low e-commerce penetration at 7.5 percent, and consumer preferences for additional family amenities, diverse dining, and trendy fashion to enhance appeal.
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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 Catchment Profile
The catchment area within 10 kilometers features 200,000 residents, an average age of 30 years, household size of 3.2 persons, and 2.5 percent annual population growth. David city supports this with approximately 160,000 inhabitants, 65 percent in the 15-64 working-age group, 25 percent aged 0-14, and 10 percent over 65. These factors drive demand for everyday retail but indicate potential saturation in basic categories, limiting opportunities for specialized or luxury tenants amid steady but not explosive expansion.
Competition and Tenant Mix Analysis
Super Barú Plaza encounters medium competition from nearby centers such as City Mall and Federal Mall, with three malls per 100,000 residents in the region. The tenant mix relies on local anchors like Super Barú for essential goods, featuring 60 stores with only five unique offerings, which supports consistent footfall but hinders differentiation from larger, more diverse venues. This setup benefits value-oriented retailers yet poses challenges for brands seeking premium positioning in a market favoring affordability over novelty.
Lease Terms and Operational Considerations
Base rents are 18 USD per square meter monthly, with 8 percent vacancy and average available units of 1,200 square meters signaling balanced availability. Operational quality is medium, including 12 events per year with 20 percent customer participation and high marketing efforts, alongside basic security via CCTV and guards. Potential risks involve post-2015 infrastructure maintenance needs and limited family or dining enhancements per consumer feedback, offset by 5 percent annual growth potential and 10 planned tenants for future vitality.
Building Details
Detailed Market Analytics
City Snapshot
David
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City Snapshot
David
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