Appraisal of shopping centers

Location is, without a doubt, one of the most decisive aspects in the valuation of a shopping center. Factors such as accessibility from the main roads, connectivity with public transport and population density in its area of influence have a direct impact on its attractiveness to customers, operators and tenants. A shopping center located in an area with high demand, good connectivity and a favorable socioeconomic environment will have a greater capacity to attract the public, which increases its value. In addition, proximity to other commercial areas, schools, offices or residential areas can significantly increase the affluence and economic viability of the property.

The retail mix refers to the variety and quality of the establishments present in the center. A balanced mix of anchor stores (major brands that attract a steady stream of customers), specialty retail, leisure and dining options creates a complete experience that fosters visitor loyalty.
In addition, occupancy rates and the length of leases are key indicators of the asset’s stability. A high occupancy rate, combined with long-term agreements with strong tenants, increases the perception of security and profitability for investors and owners.

Gross leasable area (GLA) is one of the main parameters that determine the revenue potential of a shopping center. An efficient architectural design that optimizes the use of space, together with attractive and functional common areas, contributes to a better visitor experience and, consequently, to higher revenues.
In addition, elements such as the internal layout, the visibility of the premises, the quality of the finishes and natural lighting are factors that influence both the valuation of the property and the public’s perception of it.

The profitability of a shopping center is calculated based on rental income, occupancy rates and projected growth. A thorough analysis of market trends, together with an assessment of the competitive environment, allows for more accurate future revenue projections.
In addition, Tecnitasa takes into account macroeconomic factors, such as growth in consumption or changes in shopping habits, to adjust estimates and accurately reflect market realities.

The general condition of the property and the quality of its facilities are determining factors in the assessment. A well-maintained shopping center, with efficient air conditioning systems, functional access, elevators and escalators in perfect condition, generates a positive perception for both visitors and tenants.
Parking areas, leisure and recreation areas, and security and surveillance systems also play an important role. Investment in facility maintenance and modernization can make the difference between an average asset and a highly valued one.