Cushman & Wakefield Global Cities Retail Guidecushwakeretail.com/reports/americas/Peru_Lima_RetailGuide.pdf · Crepier, Topi Top, Payless Shoesource, Pizza hut, Bembos, La Lucha,

0Cushman & Wakefield | Lima | 2019

LIMACushman & Wakefield

Global Cities Retail Guide


LIMA

OVERVIEW

Lima is not just the name of the capital of Peru. Lima forms

the region 'Lima Metropolitana'. Lima, with 9.4 million

people, generates half of all economic activity in Peru but is

home to only a third of the country's population and more

than 60% of the national income.

Lima is a very diverse cosmopolitan city full of ancient history, but also

very modern in places. It is a melting pot of different Peruvian and

international cultures and traditions.

There are a number of major infrastructure projects planned for the

coming years, including the development of new lines of the Lima Metro

System, among other projects. There are also a few shopping centre

projects in the pipeline for the next couple of years, such as Mall Santa

Maria and Mall Plaza Comas, among others.

In the 1970s and 1980s, many mid-sized shopping malls were opened:

Plaza San Miguel, still operating, modernized, extended and very

popular; Polvos de Higuereta, an accumulation of many small stores and

supported by two big retailers; Arenales shopping centre, due to be

modernized soon, and Camino Real in San Isidro, the most significant

shopping centre of the 1980s, but today nothing compared to its former

splendor. Other malls opened in the 1980s were the Plaza Camacho,

Molicentro, Caminos del Inca and El Polo. All were remodeled in the last

few years to meet modern standards and to be able to compete against

the new, ultramodern shopping malls popping up in Lima.

Since 1997 a new generation of shopping malls conquered the capital of

Peru. Starting with Lima's showpiece mall, the Jockey Plaza. After this

model places like Larcomar, Marina Park, Real Plaza Primavera, Plaza

Norte, Plaza Lima Sur, Molina Plaza and many more were built such as

all the malls developed by Real Plaza, Open Plaza and Mall Aventura

Plaza in different districts of the capital.

FACTS ABOUT CITY

9.4 million Metropolitan Population

More than 300,000 people walking through Jiron de la Union daily


SAN ISIDRO DISTRICT

San Isidro is one of the most modern and wealthiest

districts in Lima. It is the financial and commercial centre

of the modern area of the capital. It is located just south

of downtown and features a number of high-end

restaurants, first-class luxury shopping areas, theatres,

galleries and museums, and the headquarters of some of

the most important and powerful businesses in all Latin

America. The district is also known for its large green

areas, including a Golf club and The Olivar Park, a

National Monument since1959.

Conquistadores Avenue is one of the busiest shopping

avenues in San Isidro. It is also one of the most exclusive

retail streets in Lima, running parallel to Camino Real. On

this street some of the most exclusive Peruvian designers

have their stores, along with many international brands.

Pardo y Aliaga, Camino Real, and Emilio Cavenecia

avenues are also areas of commercial activity. Miguel

Dasso is also the home of exclusive boutiques,

bookstores, coffee shops, bank agencies, photography

studios, etc.

While Larcomar or Jockey Plaza may have more of the

flagship stores of luxury brands, Conquistadores avoids

the mall trend, and allows shoppers to walk its quaint,

cobblestone streets.

In Las Begonias Avenue and the neighboring avenues,

such as Rivera Navarrete, República de Panamá, and

Canaval y Moreyra, there are shopping malls and offices

of local and international companies. Santa Cruz Avenue

is also an attractive avenue, mainly because of the food

service choices in it, restaurants such as La Vaca Loca,

Friday’s, Delifrance and Pardo’s Chicken.

LIMAKEY RETAIL STREETS & AREAS

MIRAFLORES DISTRICT

Known for its shopping areas, public space/parks and

beaches, Miraflores is one of the city’s upscale districts.

Tourism dominates the economy of the district and it is

also a cultural centre, home of theatres, cinemas and art

galleries. The district has several hotels, cafés, pubs,

restaurants and shops, which draw large crowds of the

local population on Sundays.

Parque Kennedy, Miraflores central plaza, regularly has

flea markets and art exhibitions. Larcomar shopping

centre overlooks the Pacific coast and is very popular

among tourists, young people, and the middle and upper

classes. There are restaurants, stores, a food court, ice

cream shops, arcades, bowling alleys, nightclubs, bars,

among others.

The main shopping streets in the district of Miraflores are

Larco Ave., Comandante Espinar Ave., Benavides Ave.,

La Mar Ave. and Santa Cruz Ave. The district also has an

important park called Parque Reducto, which is

considered a National Monument.

The Calle de las Pizzas ("Pizza Street") in downtown

Miraflores is popular among teenagers and young adults.

It also has some of the most prestigious high schools in

Peru, including the British schools Markham College, San

Silvestre School, Deutsche Schule Alexander von

Humboldt Lima (German school), Pestalozzi (Swiss

school) and Carmelitas School. It is also home to the

University of Piura.


SANTIAGO DE SURCO DISTRICT

Santiago de Surco is a district mixed in terms of its

demographics. The northern parts of Santiago de Surco,

(which is close to San Borja and La Molina), known as

Monterrico and Chacarilla, are considerably more

developed than the southern side of the district. These

two areas have more upper-class housing and the three

major shopping centres of the district.

Many of Lima’s significant shopping centres such as

Jockey Plaza, Caminos del Inca, and El Polo (I and II) are

located in this district.

Also, important avenues (including Benavides Ave.,

Caminos del Inca Ave., Primavera Ave., La Encalada Ave.

and El Polo Ave.) pass through Santiago de Surco,

including the south avenues, which connect the district

with downtown Lima, San Isidro and Miraflores.

Some of the most important private universities are

located here, including the University of Lima, Universidad

Peruana de Ciencias Aplicadas, ESAN, and Ricardo

Palma University.

LIMAKEY RETAIL STREETS & AREAS

JESUS MARIA DISTRICT

Jesús María is one of a number of small districts close to

each other, and near to the city centre. In the past few

years, it has seen much residential development which

has led to a modernisation of this specific zone. It is a

lower-middle to upper-middle class, high density district,

considering its proximity to San Isidro and Magdalena del

Mar.

The main avenues in Jesús María are Salaverry Ave.,

Mariategui Ave. and San Felipe Ave. One of the most

significant shopping centres is located in this district, Real

Plaza Salaverry, where several exclusive and international

brands are located such as Mango, Guess, Desigual,

Zara, Forever 21, Prune and Tous, among others.

General Garzón Avenue is the key retail street. In this

avenue there are several shops and small restaurants that

make the place one of the most important commercial

areas.

SAN MIGUEL DISTRICT

San Miguel is also considered a key commercial district,

located in the west side of Lima, 15 minutes from

international airport Jorge Chávez. There are numerous

shopping malls, commercial streets, supermarkets, banks,

bars and restaurants.

La Marina avenue is the main thoroughfare in the district,

where you can find Plaza San Miguel, one of the oldest

shopping malls in the city and other stores and

restaurants nearby, besides new office buildings. The

exponential development of homes in the area has

motivated the greater commercial movement and the

expansion in the diversity of services here.


LIMAMARKET OVERVIEW

KEY AREAS / STREETS CONSUMER

PROFILE

MAJOR RETAILERS PRESENT TYPICAL RENT FOR

UNIT OF 200 SQM

RANGE OF UNIT

SIZES (*)

Conquistadores Avenues (San

Isidro)

NSE A and B Tommy Hilfiger, Salomon, Colloky, Coliseum, MNG, Dejavu, Arrow,

Philosophy, Mentha y Chocolate, Coco Jolie

$22 to $52 per sqm 240 to 540 sqm

Santa Cruz Avenue (Miraflores /

San Isidro)

NSE A and B Marco Aldany, Baliq Joyas, Stenberg, Almudena Miliani, Delifrance, G&G

Joyeros, Gucci, Omega, Breitling, Aston Martin, Toffany & Co., O’Neil,

Friday’s

$31 per sqm 240 sqm

Camino Real Avenue (San Isidro) NSE A and B Quicksilver, The Box Coreshop, The Northface, Norka Peralta, Trek,

Charlotte, Moda & cía, Mentha y Chocolate, OPI, Telepizza

$15 to $45 per sqm 250 to 498 sqm

Comandante Espinar Avenue

(Miraflores)

NSE A and B Drimer, Adidas, Decorlux, Starbucks, Ibero Bookstore, Epoca, Bookstore,

Mitsui, Lartiza, GMO, Florerias Unidas, Baby Infanti

$29 to $32 per sqm 288 to 307 sqm

Larco Avenue (Miraflores) NSE A and B All Alpaca, Far West, Cuy Arts, Crisol Bookstore, Ishop, GMO, Bata, Kuna,

Crepier, Topi Top, Payless Shoesource, Pizza hut, Bembos, La Lucha,

Starbucks, News Café, Manolo’s, Bembos

$21 to $41 per sqm 243 to 1,600 sqm

28 de julio Avenue (Miraflores) NSE A and B Coco Jolie, Marco Aldany, Casa Banchero, Miss Cupcakes, Starbucks,

Adidas, GMO, Coolbox, Tottus, Montalvo, Don Mamino

$27 to $35 per sqm 218 to 504 sqm

Alfredo Benavides Avenue

(Miraflores)

NSE A and B Baby Infanti, Coolbox, Todo Bebe, Kitchen Aid, Big Head, Camping centre,

Tailoy, Globilandia, Smartfit, Burger Kin, Pastipan, Caravana, Starbucks,

Chili’s, Mc Donald’s, KFC dunkin Donuts, Krispy Kreme, Domino’s, Sarcletti.

$19.7 to $29 per sqm 480 to 687 qm

Alfredo Benavides Avenue

(Santiago de Surco)

NSE A and B Papa john’s, Rosatel, Plaza Vea supermarket, Pastipan, Renault, Sarcletti,

Burger King, Kukyflor, Mc Donald’s

$12 to $31 per sqm 250 to 390 qm

Caminos del Inca Avenue NSE A and B Wong, Plaza Vea, Don Mamino, Don Belisario, Starbucks, Maestro, Bembos,

Delicass, La Panka.

$15.8 to $24 per sqm 205 to 288 sqm

Aviación Avenue (San Borja) NSE B and C Tai Loy, KFC, Utilex, Bembos, Starbucks, Mr. Sushi, Electrolux, Pandero, Mis

Costillitas, Don Tito, Norky’s, Bembos, Starbucks, Mr. Sushi

$15 to $22 per sqm 260 to 1,750 sqm

West Javier Prado Avenue

(Magdalena del Mar, San Isidro)

NSE A and B KFC, Pastipan, Villa chicken, Dunkin Donuts, Oxxo, Montalvo Salon & Spa,

Pardo’s chicken, Delicass, Hyundai, Curacao, Kia dealer, Gold’s Gym,

Sodimac

$12 to $21 per sqm 200 to 1,500 sqm

West Javier Prado Avenue

(Santiago de Surco, San Borja,

La Molina)

NSE A, B, and C Mundo Bebe, McDonald’s, Gold’s Gym, Ripley, Oficentro, Movistar,

Starbucks, Dercocentre, Kia Motors, Chevrolet, Braillard, Renault, Subway

$11 to $22.5 per sqm 200 to 1,500 sqm

(*) The size of the stores refers to the rental prices indicated, above 200 sqm. In some cases, there could be smaller stores.


LIMAMARKET OVERVIEW

KEY AREAS / STREETS CONSUMER PROFILE MAJOR RETAILERS PRESENT TYPICAL RENT FOR

UNIT OF 200 SQM

RANGE OF UNIT

SIZES

El Polo Avenue (Santiago de

Surco)

NSE A and B Papa john’s, Oxxo, Starbucks, Pinkberry, Bosh $20 to $30 per sqm 460 to 680 sqm

Primavera Avenue (Santiago de

Surco)

NSE A and B Wong, Colineal, Aldo & Co., Sony centre, Bocatta,

La Bistecca, Panchita, Tanta, La Bodega de la

Trattoria, La Folie, Mitsui, Kia Motors

$14 to $38 per sqm 310 to 1617 sqm

Jiron de la Unión (Cercado de

Lima)

NSE B, C, and D Oechsle, Saga Falabella, Ripley, GMO, Starbucks,

Radioshack, Adams, Payless Shoesource, Bata

Not available Not available

Carlos Alberto Eyzaguire Avenue

(Independencia)

NSE B, C, and D La Curacao, Telepizza, Papa john’s, Hiraoka,

among many other restaurants.


Carretera Central (Ate / Santa

Anita)

NSE C and D Tai Loy, Estilos, Lifan Motors, Sodimac, Makro,

Plaza Vea



PLAZA NORTE Plaza Norte is a shopping centre located in the district of

Independencia, north of Lima. The inauguration took place

on July 2009 by the company Corporación EW, after its

sale of Grupo Wong to Cencosud. It is one of the largest

shopping centres in the country with more than 200,000

sqm in total, with very few vacancies. In addition to having

commercial stores and restaurants, there is a church, a

gymnasium, a convention centre, a theatre, government

offices, a television channel (Willax) and a terrestrial

terminal.

JOCKEY PLAZA SHOPPING CENTREJockey Plaza is an exclusive shopping centre, located

between Av. Manuel Olguin and Av. Javier Prado Este in

the district of Santiago de Surco in Lima. It has several

international brand stores such as Calvin Klein, Forever

21, H&M, Mac, Coach, Guess, Hugo Boss, MNG,

Kenneth Cole and Zara (recently expanded), among

others. Some new brands are expected to be opened on

2019: Victoria’s Secret Joaquim Miro, Studio F, and

Enrique Thomas.

LIMASOME OF THE MAIN SHOPPING CENTRES

LA RAMBLALa Rambla is a chain of shopping centres operated by

Urbanova, the real estate arm of the BRECA Group. La

Rambla currently has two commercial operations in Lima:

La Rambla San Borja, inaugurated in 2012 and La

Rambla Brasil, opened in 2014.

REAL PLAZA SALAVERRYOpening in 2014, it is the largest and most exclusive

shopping centre in the Real Plaza chain. It is located in

Jesus Maria, a district that has seen significant residential

growth. Its main stores are Plaza Vea, Saga Falabella,

Oechsle, Ripley, Promart, Zara, Sfera, Forever 21 and

Cineplanet. Its proximity to upper class districts such as

San Isidro and Magdalena del Mar has created a strong

retail offer here.

MALL BELLAVISTAThis is the second commercial centre of the Mallplaza

chain in Peru, located in Bellavista, Callao. It has more

than 100 stores, including Falabella, Ripley, Motorplaza,

Tottus, Cinemark and Sodimac, as well as a gym and

underground parking. In 2014, an expansion process

began to include new brands of all categories and the

addition of Multitienda Paris. Recently, in 2019, a financial

boulevard was opened, gathering the main banks related

services.

PLAZA SAN MIGUELIt is located in La Marina Ave., San Miguel, in the

intersection of two of Lima's main avenues: La Marina

Ave. and Universitaria Ave. It opened its doors on October

15, 1976, being the first attempt to create a shopping

centre in Peru. It is one of the oldest and most iconic

shopping centres in the capital and despite the

development of new mall alternatives it continues to grow,

and it is expected that at the end of 2019, the leasable

area will grow more than 50%, and will include a new

gastronomic and entertainment offer.

REAL PLAZA PURUCHUCOLocated in Ate Vitarte, this shopping centre will be one of

the largest, with 120,000 sqm of leaseable area. It is

expected to open in October 2019 and will receive around

2 million visitors per month. Following investment of

around US$ 130 million, it will have more than 300 shops

and 5,000 parking spaces.


LIMA

NEW DEVELOPMENT

WATCH

DEVELOPMENT TO WATCH OUT FOR

MALL PLAZA COMAS

Total Scheme Size (sqm) 83,000

- Retail GLA (sqm) 83,000

Planned Opening Date 2020

Consumer Profile Mostly NSE C and D

Owner Developed by Mall Plaza

ABOUT THE DEVELOPMENT

Located in Comas, the mall is surrounded by main

avenues such as North Panamericana Highway,

Universitaria Ave., and Tupac Amaru Ave. With

investment totaling around US$80 million, it will have

more than 220 shops and 1,445 parking spaces. It will

be the first shopping mall with a LEED certification.


One of the most famous Peruvian

attractions is its gastronomy, and

Lima plays a significant role in this.

It is no surprise therefore that the

city was named as the ‘Best Culinary

Destination’ during the 25th edition

of the World Travel Awards, for 7

consecutive years.

Tourists from around the world come here to learn and try

the famous flagship dish: ceviche. But the Lima cuisine

has much more to offer, such as “causa limeña”, “lomo

saltado”, “anticuchos” and “aji de gallina”, among many

other famous dishes.

Lima's cuisine has inherited the pre-Hispanic and colonial

culinary secrets and has managed to merge them with the

most delicious cuisines of Europe and the East. The

secret of their success seems to lie in the freedom to

explore new flavors to combine ingredients, to rescue

from oblivion and transform inputs wisely everything tasty

that other people have offered for creating an original

product.

In the past few years, gastronomy has led to an explosion

of a trend for better quality, more elaborate cuisine, which

has been driven by several factors and has managed to

present Peruvian's cuisine and quality to the world. This

growth has allowed the creation of new restaurants and

the expansion of the best ones, with high standards a

variety of creative dishes, that have given Peruvian

cuisine the best reviews.

LIMAFOOD & BEVERAGE

Another positive change to the food offer is that many

food franchises decided to open in the capital and

provided new options to choose from. Some of them are:

Taco Bell, Krispy Kreme Doughnuts, Johnny Rockets and

Chuck E. Cheese, and others that have been in the

market for a while, such as Burger king, KFC, Pizza hut,

Fridays, Tony Roma’s, Dunkin donuts, Starbucks,

McDonald’s, and there is a likelihood that eventually many

other well-known brands will arrive in the capital.


FOOD & BEVERAGE MARKET OVERVIEW

LIMA

KEY AREAS CONSUMER PROFILE FOOD & BEVERAGE OPERATORS RENT FOR 350

SQM UNIT

San Isidro NSE A and B Osaka, Edo Sushi Bar, La Décima, Titi, San Antonio, Astrid y

Gastón, La Bistecca, La Linterna, Tanta, Segundo Muelle, Danica,

Punto Azul, Antica, Villa Chicken, San Ceferino, Crepes & Waffles,

Don Mamino, La Romana, La Bonbonniere, Punta Sal, Señor

Limón, Charlotte, Pardo´s Chicken, Bodega de la Trattoria,

Embarcadero 41, Long Horn, Paseo Colón, Mr. Sushi, La gran

Fruta, 4D, La Caravana, Delicass, La Fondue, Maras, Bravo

Restobar, Hanzo, Lima 27, Malabar, Alfresco, El Olivar, La

Baguette, La Carreta, Dolce Capriccio, among others.

$21 to $32 per sqm

depending on the

location and the

features of the

construction

Miraflores NSE A and B Maido, Fiesta, Osaka, Amaz, Edo Sushi Bar, Carnal, El Mercado,

La Gloria, Manifiesto, Francesco, San Antonio, Central

Restaurante, Matria, La Lucha, Panchita, La Mar, Pescados

Capitales, Tanta, La Plazita, Mangos, Dolce Capriccio, Dánica,

Punto Azul, Tony Roma´s, Crepes & Waffles, Don Mamino, Mis

Costillitas, La Romana, La Piccolina, Punta Sal, Papacho´s,

Madam Tusan, Pardo´s chicken, Rodizio, 4D, Don Belisario,

among others.

$24 to $35 per sqm

depending on the

location and the

features of the

construction

Santiago de Surco NSE A and B Osaka, Edo Sushi Bar, Siam, San Antonio, La Linterna, Tanta,

Segundo Muelle, Hanzo, Punto Azul, Antica, Villa Chicken, Don

Mamino, Mis costillitas, La Baguette, La Bonbonniere, Sarcletti,

Pardo´s Chicken, Rodizio, Pink Berry, 4D, La gran Fruta, Delicass,

Don Belisario, among others.

$16 to $38 per sqm

depending on the

location and the

features of the

construction

San Borja NSE A, B, and C Edo Sushi Bar, El Aguajal, La Bistecca, Pescados Capitales,

Punto Azul, Villa Chicken, La Romana, Sarcletti, Palermo,

Charlotte, among others.

$14 and $24 per sqm

depending on the

location and the

features of the

construction


FOOD & BEVERAGE MARKET OVERVIEW

LIMA

KEY AREAS CONSUMER

PROFILE

FOOD & BEVERAGE OPERATORS RENT FOR 350

SQM UNIT

Barranco NSE A, B, and C Amoramar, Cala, Antica, Rustica, Tio Mario, El Hornero,

Ayahuasca, La Noche Restobar, La 73, among others.

$14 and $21 per sqm

depending on the

location and the

features of the

construction

La Molina NSE and B El Charrua, Edo Sushi Bar, El Hornero, San Antonio, Don

Mamino, Mis costillitas, Punta Sal, Señor Limón, Charlotte,

Pardo´s Chicken, Rodizio, Roky´s, Orgaanika, O-Mei,

Telepizza, La Crocante, among others.

$11 and $30 per sqm

depending on the

location and the

features of the

construction

No warranty or representation, express or implied, is made to the

accuracy or completeness of the information contained herein, and the

same is submitted subject to errors, omissions, change of price, rental

or other conditions, withdrawal without notice, and to any special

listing conditions imposed by our principals.

© 2019 Cushman & Wakefield LLP. All rights reserved.

AISSA LAVALLE

Head of Office

Cushman & Wakefield Perú

Calle Germán Schreiber 210 of. 701 San Isidro

Tel: +51 (1) 223 8160

Email: [email protected]

mailto:[email protected]

Documents

Cushman & Wakefield Global Cities Retail Guidecushwakeretail.com/reports/americas/Peru_Lima_RetailGuide.pdf · Crepier, Topi Top, Payless Shoesource, Pizza hut, Bembos, La Lucha,