May 21, 2012
-- By Pedro Santos, President, CSSCaribbean
The retail arena in Puerto Rico has demonstrated to be strong despite the last six years of economic turn down. It seems contradictory, however, malls continue to be packed of people and most of their management recently announced the investment of millions of dollars to remodel their infrastructure.
On the other hand more retailers are expanding or considering expansion into Puerto Rico. This fact demonstrates that local, International and US retailers trust Puerto Rican’s economy. Among these retailers is the Swedish Giant IKEA who announced the first opening in Puerto Rico on or before November 2012. Other home improvement/
décor retailers expanding into Puerto Rico are ACE Hardware, Anna’s Linens and Michaels Art and Crafts.
The designer’s and shoe retailers expanding into Puerto Rico are Carolina Herrera who opened their first location in Plaza las Américas, Shoe Carnival and DSW (Designer Shoe Warehouse). Shoe Carnival expects to open four locations during 2012 and DSW plans to open one location before year ends.
Representing the technology segment is Microsoft who plans their first opening in Plaza las Américas the last quarter 2012.
The eating segment is the most competitive one having the following dining and QSR restaurants expanding or considering expansion into Puerto Rico: Red Lobster, Olive Garden, Capital Grille, Shula’s Steak House, Famous Dave’s, Carl’s Jr., Table One O Five (Local), El Churry (Local) and Charley’s Grilled Subs.
Caribbean Strategic Solutions provides strategic planning to retailers and companies expanding into Puerto Rico, the Caribbean and Latin America. Services include Site Selection, Trade Area and Market Analysis, Design and Real Estate Services. Our Real Estate Services include Tenant Representation, Lease and Purchase Negotiation, Asset Management and Real Estate Disposition. Visit http://www.csscaribbean.com