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Viva Alajuela is a mid-sized shopping center in Alajuela, Costa Rica, positioned as a convenient retail hub for local residents and travelers near Juan Santamaria International Airport.
Spanning 45,000 square meters of gross leasable area, it accommodates over 90 tenants, featuring a mix of international apparel brands like Zara and H&M, electronics outlets, a major supermarket anchor, and diverse food and beverage options including fast-casual chains and local eateries. Entertainment includes a 6-screen cinema and play areas, enhancing family appeal. The centers market position benefits from Alajuelas growing urban economy, with occupancy at 93%, surpassing the national retail average of 92-94% as per 2025 commercial real estate reports.
Footfall averages 750,000 visitors annually, supported by proximity to major highways and public transit routes.
Rent levels range from $25 to $35 per square meter monthly for prime locations, offering affordability compared to capital city malls at $40+.
Accessibility is facilitated by 1,200 parking spaces and shuttle services, though radial road congestion during peaks presents challenges.
Tenant mix strengths lie in balanced categories promoting cross-traffic, while drawbacks include competition from larger nearby properties like City Mall and potential infrastructure upgrades needed for sustained growth. Demographic draw includes middle-income households ($2,000-$3,000 monthly) in a population of 150,000, with risks tied to tourism volatility and e-commerce encroachment.
Leasing advantages encompass flexible terms (5-10 years) and promotional collaborations, but retailers must assess category saturation in fashion and assess economic resilience in this stable yet competitive market.
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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
Alajuelas demographic profile centers on a population of about 150,000, predominantly middle-class families with average monthly household incomes of $2,500, favoring spending on apparel, groceries, and leisure. Viva Alajuela attracts 750,000 visitors yearly, bolstered by airport traffic (5 million passengers annually) and local commuters, per market analyses. However, footfall dips 15% in off-peak seasons due to tourism reliance, highlighting the need for consistent local marketing to maintain steady performance amid growing suburban migration.
Occupancy and Rent Levels
Occupancy at Viva Alajuela holds at 93%, indicative of strong leasing demand in Costa Ricas retail sector where vacancy averages 7%. Rents average $28 per square meter monthly for optimal spaces, inclusive of common area maintenance fees around 12%, making it attractive for emerging brands versus higher San Jose rates. Reports note minimal turnover, with lease escalations capped at 4% annually, though prime spots command premiums; potential lessees should negotiate turnover vacancies and review historical absorption rates for category fit.
Competition and Accessibility Risks
Viva Alajuela faces stiff competition from City Mall Alajuela (330 stores, 2 million footfall) and Plaza Real, contributing to saturation in apparel and dining segments, with overall market sales growth at 3% in 2025. Accessibility via Route 1 is solid but hampered by traffic bottlenecks, reducing impulse visits by 10-20% during rush hours. Aging infrastructure poses maintenance risks, while strengths in diverse tenant synergy aid retention; retailers should factor in e-commerce competition eroding 8% of physical sales and evaluate co-tenancy protections in leases.
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City Snapshot
Alajuela
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City Snapshot
Alajuela
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