This Thursday, December 19, Patio Martín Carrera will open its first section to the public. The community center, which will feature 84 retail spaces spanning 23,000 square meters of gross leasable area (GLA), is located in northeastern Mexico City and will complete its phased launch over the coming months.

According to sources consulted, this is “not a grand opening” but rather a strategy to begin operations partially. At the same time, construction is being completed, and final details for the remaining spaces are yet to be finalized.

Data from SiiLA shows that approximately 80% of the spaces in this development are already leased or in the negotiation stage. Currently, 18 spaces remain available, 45 have signed leases, 14 are designated for restaurants, six are in the process of finalizing contracts, and one is still under negotiation. Confirmed tenants include well-known brands such as Bimbo, Cinemex, Coppel, Sportium, and Walmart.

Of the available space, representing 13% of Patio Martín Carrera’s GLA, retail spaces vary in size, averaging 60 square meters, though some exceed 500 square meters. This diversity and limited availability suggest full occupancy could be achieved in the short term. This approach aligns with the phased launch strategy, ensuring the development operates with minimal vacant or unfinished spaces when the official opening occurs.

Patio Martín Carrera expects significant daily foot traffic due to its strategic location within the Martín Carrera Multimodal Transfer Center (CETRAM), which handles an average of 63,000 passengers daily, according to Mexico City’s government. CETRAM facilities are designed to streamline passenger transfers between different modes of transportation, such as buses, trains, and subways, improving urban mobility and reducing street congestion. Currently, the Martín Carrera CETRAM serves 64 public transport routes.

The Martín Carrera project integrates three complementary components: a shopping and entertainment center, office and residential areas, and the revamped CETRAM. Patio Martín Carrera positions itself as a community center, a commercial hub strategically designed to blend a diverse mix of stores, services, and community spaces into a format more compact than traditional malls. Its goal is to meet the daily needs of the local community in a setting that fosters social connections and offers tailored shopping experiences.

By size, this retail center will be one of the 12 largest in the Aragón submarket. Among these, Patio Martín Carrera will rank as the seventh largest and is one of the most anticipated projects, with delays since last year. This progress indicates that a full launch by 2025 is highly likely.

Mexico’s retail market remains dynamic, with an occupancy rate close to 93%. Patio Martín Carrera is part of this momentum, positioning itself as a key development to enhance commercial offerings in one of Mexico City’s busiest areas. With more than 318,000 square meters of new retail space projected for delivery nationwide starting in 2025, this project reflects the sector’s ongoing growth and modernization.

For more insights into Mexico’s commercial real estate trends, visit SiiLA REsource or contact us at contacto@siila.com.mx.