In the commercial real estate market, companies' movement in the retail sector continues to surge. SiiLA diligently tracks tenant entries and exits in Mexico's key regions. With consolidated data from the second quarter of 2023, SiiLA REsource's editorial team has crafted a ranking that unveils the companies that absorbed the most space in the nation's prime shopping centers.

Monitoring property gross absorption is pivotal for real estate sector analysis, as it unveils market trends and provides a robust foundation of information for property valuation, as well as for investor and developer financial planning and contractual negotiations.

According to SiiLA Market Analytics, 38% of the absorbed area corresponded to megastores. A "megastore" is a large-scale retail store offering various products under one roof. Typically, they occupy anywhere from thousands to tens of thousands of square meters of retail space. They aim to provide customers with a comprehensive and convenient shopping experience, featuring many products spanning diverse categories. Well-known examples include Liverpool and Walmart.

Following megastores, small and medium-sized stores were highly sought after by tenants, comprising 20% and 19% of the absorbed area in the second quarter of 2023. The absorptions recorded by SiiLA were primarily concentrated in the markets of Monterrey, Mexico City, and Guadalajara.

Among the tenants that absorbed space in the last quarter were prominent firms such as AT&T, Carl's Jr., and Smart Fit. Nevertheless, three tenants absorbed a fifth of the transacted space in major national markets' retail shopping centers. These companies are:

1.- Banco Santander

Taking the top spot on the podium is Banco Santander, one of the world's largest Spanish banks. In the second quarter of the year, this multinational financial services company absorbed nearly 2,600 square meters at Monterrey's Fashion Drive and approximately 300 square meters at Altea Huinala, also located in the Sultana del Norte. With this transaction, Banco Santander further expanded its presence in Mexico's major cities' shopping centers, where in the last three years, the gross leasable area (GLA) it occupies increased by 51%.

2.- Lefties

Lefties self-describes as "one of the leading affordable fashion companies nationally and internationally." This brand, part of the Inditex fashion group operating other brands like Bershka, Zara, and Pull&Bear, absorbed over 2,100 square meters in Guadalajara, featuring a megastore at Gran Terraza Oblatos and a mini-store at La Gran Plaza Fashion Mall. The space taken by Lefties equates to 10% of its GLA in major national shopping centers, where over the last three years, the company nearly doubled its occupied space.

3.- Interhouse

Home product distributor Interhouse will open a store on Thursday, September 14, at Encuentro Fortuna shopping center in Mexico City. Spanning an area of 1,900 square meters, this megastore adds to Interhouse's presence at Plaza Sentura in Tlalnepantla, State of Mexico. It's important to note that recently, Plaza Sentura had significant openings, such as the first Tim Hortons coffee shop in Mexico City, which opened its doors on August 31st.

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