Premises in Shopping Centers vs Condominium Commercial Spaces

Due to the real estate growth Puerto Vallarta and Riviera Nayarit have experienced over the past few years, this destination has become a very attractive place to start a business or establish a national or international franchise.

One of the first and most important decisions faced by entrepreneurs and impresarios alike is the choice of a good place to set up the business, whose success will depend largely on its location, be it on the street or in a large shopping center, as each has unique advantages and targets, as explained briefly below.

Premises in Shopping Centers vs Condominium Commercial Spaces

Premises in Shopping Centers: Balance Between Amenities and Price

Basically, tenants look for a fully functional plaza, one that has ample parking and is located on an avenue with great access and security, among other factors. Obviously, they also require reasonable lease prices and seek to minimize costs to adapt the premises. The more finished the premises are when delivered, the easier it will be to find tenants. When potential tenants see a place they like that meets their business expectations, they begin to calculate the investment required to condition it. It is precisely at that moment that they may decide not to continue. For example, if the rent is around $15,000 pesos per month, but they also need to invest $200,000 to get it in shape, it is very likely that they will not sign a contract. On the other hand, if they are provided with flooring, security gates, electricity and water connections, among other amenities, it will be easier to close the deal.

In the same way, consumers are more attracted to a shopping center that is easily accessible, has good connectivity, provides covered parking and offers an interesting mix of anchor stores, services and products, as well as exquisite dining options and entertainment.

Premises in Condominium Commercial Spaces: A Bet on Pedestrian Traffic

With the construction of several developments throughout the city (such as Marina Vallarta, Versalles and the Hotel Zone, among others), a new way to market products and services has been added: premises in commercial spaces available in condominium access areas.

In the case of the Romantic Zone, this type of location, which counts on pedestrian traffic, can be found in high-end developments such as Zenith, Molino de Agua and The Park Vallarta, among others. They are not places where consumers go specifically to buy something, rather they are businesses that are established in a high-traffic area with a high concentration of people, to try to gain sales. Due to their nature, they do not have anchor stores, so the main types of businesses revolve around fitness (such as gyms or martial arts schools), gastronomy (ice cream parlors, bakeries and small restaurants) and lifestyle items (decor shops, jewelry stores and boutiques). They are eye-catching shops, specializing in attracting those walking in the area.

Entrepreneurs and Impresarios: Aspects to Consider

One of the main questions asked by both entrepreneurs and impresarios looking for a place to establish their business is what factors to take into account for the business to be successful.

The first step and the one with the most impact on the future is to thoroughly analyze the target market they want to focus on. In order to choose a good location, they need to go deep and get to know in detail the type of client to whom they will direct not only their marketing efforts, but the product and/or service they will offer. In this way, they can address a specific sector of the entire commercial spectrum.

Although various commercial areas around Banderas Bay are booming (with others in development) that are ideal for starting a business, both entrepreneurs and impresarios need to determine where they want to direct their product and/or service and, based on this, look for the most suitable location.

Vallarta · Nayarit: A Paradise for Investors

Our destination is a very attractive place, where, in addition to a healthy commercial environment, perceived levels of insecurity are very low, a very good situation for business. If investors perform an excellent market analysis and ultimately present an outstanding product, it will be much easier to see results quickly. Since there is convincing growth in the industry every year, more and more investors turn to this area to start new businesses.

Premises in Shopping Centers vs Condominium Commercial Spaces