The construction of a shopping center is a complex project that must take into account a number of diverse elements to satisfy the needs of its businesses, its customers and its surroundings. Success is not measured by size, nor by luxury, nor by how cosmopolitan a city it is in. Rather, it is measured in revenue per square foot.
According to the International Council of Shopping Centers (ICSC) publication Shopping Centers Today, the most successful shopping centers share several features: They are located in tourist areas, have quality retailers, are close to prosperous population groups and tend to be updated on a regular basis.
With this in mind, we visited four Riviera Nayarit shopping centers that base their success on some of those features.
Plaza Los Amores (Bucerías, Nayarit) – Close to prosperous population groups
Located on Av. Héroes de Nacozari, at the main entrance to the private subdivisions Los Amores and Terralta, this large shopping center is home to a wide variety of businesses, including three restaurants, an English school, a real estate agency, a vacation rental agency, a dry cleaner, a spa, a veterinarian, an auto insurance office, a tour agency and a paint store, among many others. Here, you can find commercial spaces of about 370 square feet with rents starting at $8,200 pesos, or about $410 USD, per month.
Plaza Riviera (Bucerías, Nayarit) – Located in a tourist area
The 16 businesses in this shopping center include a bank branch, a financial securities office, a beauty salon, a gym, a real estate agency, a dental office, a gift shop and a copy center. It is located on Carretera 200 Norte, in one of the areas with a concentration of establishments focused on tourism. The monthly rent for an 860-square-foot space starts at $8,000 pesos, or about $400 USD.
Plaza Bahía (Nuevo Vallarta, Nayarit) – Tends to be updated regularly
Because of its privileged location, almost opposite the main entrance to El Tigre golf course, this shopping center is an important destination for activities in the area. It offers a unique outdoor space that combines beauty, design and quality. Businesses here include a pharmacy, gym, veterinarian, childcare center, barbershop, language center, medical and dental office, salon, beauty clinic, two restaurants and a laundry. Monthly rent for a 440-square-foot space starts at $8,900 pesos, or about $445 USD.
Plaza El Faro (Mezcales, Nayarit) – Has quality retailers
This 19-unit shopping center is located on Carretera 200 Norte, near one of the city’s busiest intersections. Most of the businesses here are focused on construction supplies, including hardware, paint, ceramic products and bathroom fixtures. This is complemented by a shipping service, as well as self-storage units. Its parking lot has approximately 100 spaces. The monthly rent for about 1300 square feet of commercial space starts at $11,300 pesos, or about $565 USD.
On the Horizon
In addition to increasing opportunities in residential real estate, the area’s population growth has caught the attention of shopping center developers, eager to meet the specific needs of those residents. Currently in Riviera Nayarit, Plaza Nuevo Vallarta, located next to Sam’s Club and just opposite Valle Dorado, one of the largest and most enterprising communities in the region, is almost completed.
What other shopping center in Riviera Nayarit shows strong activity? Please share it with us through our Fan Page: facebook.com/ValartaRealEstateGuide.