1Cushman & Wakefield | Lima | 2019
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
2Cushman & Wakefield | Lima | 2019
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.
3Cushman & Wakefield | Lima | 2019
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.
4Cushman & Wakefield | Lima | 2019
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.
5Cushman & Wakefield | Lima | 2019
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.
Not available Not available
Carretera Central (Ate / Santa
Anita)
NSE C and D Tai Loy, Estilos, Lifan Motors, Sodimac, Makro,
Plaza Vea
Not available Not available
6Cushman & Wakefield | Lima | 2019
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.
7Cushman & Wakefield | Lima | 2018
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.
8Cushman & Wakefield | Lima | 2019
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.
9Cushman & Wakefield | Lima | 2019
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
10Cushman & Wakefield | Lima | 2019
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]