Considerations When Investing in a Shopping Center

Following the constant expansion and economic potential Vallarta · Nayarit has demonstrated, more and more businesses are coming to this destination in a constant search to offer a varied range of products and services, all this in order to meet the demand of visitors and residents. For this reason, our bay is experiencing a constant boom in a new real estate concept: shopping centers.

To learn more about this subject, Nancy Beltrán, sales manager of Parota Center by SB Realtors, shares from her professional experience some considerations that should be analyzed once the decision is made to invest.

According to our specialist, the main aspects to consider are the added value of the area where the shopping center is located, its quality and infrastructure and the parking, as this last factor has a strong influence on consumer perception.

Location

Before investing in a shopping center, it is necessary to be clear about the type of audience to which the business is directed, that is, if it is a business that offers specialized or popular services and/or products, because this will help determine where the best location would be according to its commercial line.

“It is essential to do a market study of the area to get a more complete picture of the traffic flow, the nearby bus stops, the streets or avenues it crosses and the condition they’re in. This will help you learn the profile of the people who go there and determine if they correspond to the target audience the product or service in mind is aimed at.”

Quality and Infrastructure

It is important that the mall has an attractive and novel design. It is also ideal to consider whether it is an enclosed space with air conditioning or if it has an open style with natural elements in the exterior. Another relevant point to know is the type of amenities it offers and, above all, what the anchor store or business is.

“By anchor store or business, we mean certain franchises or establishments already consolidated nationally or internationally, which people already know, because this represents security to other businesses with respect to the mall’s potential. It is essential that a mall has an anchor store from the beginning.”

Parking

In addition to the aforementioned aspects, something that has a great influence is the fact that the shopping center has ample parking, because, according to Beltrán, people often stop frequenting some place partially or totally because the parking spaces are very limited.

One More Reason to Invest in a Shopping Center

Regarding the advantages of investing in a shopping center, Beltrán shared that one of the main benefits is the fact of being surrounded by other businesses with different products and services, which generates a broader vision for consumers.

“A mall is ideal because it groups different businesses in the same place, so the consumer doesn’t have to move from one place to another, and this is very practical for them. In addition, the flow of movement is different. It is more dynamic because, having more commercial premises next to it, people begin to observe the different business lines that are offered and consider it for future visits to the plaza or even at that moment consume something from a business they hadn’t known was there.”

Beltrán mentioned that another important factor that should be taken into account is the availability of the commercial line in the plaza, as some malls only allow two to three commercial premises with the same business; however, this varies according to each place’s administration.

Contracts, Costs and Maintenance

Once the decision is made to invest in a shopping center and the commercial line is approved by the plaza administration, it is convenient to know if direct financing plans are offered, since these premises are regularly delivered in obra gris (gray work), which represents an extra expense when making corresponding adjustments.

Another aspect that should be considered is the maintenance payment, which covers certain expenses to keep the plaza’s common areas in good condition and, in some cases,  advertising of the shopping center (although this may vary).

Fortunately, Vallarta · Nayarit offers an interesting variety of shopping centers located in strategic areas with a large influx of pedestrians, which represent a great investment opportunity to start or expand any business.