Thor Urbana buys Cancun’s Marina Town Center Mall

Thor Urbana has bought a 45,000m² shopping centre in Cancun, Mexico. The scheme, known as Marina Town Center Mall, is located in Puerto Cancun’s mixed-use mega-project on the northeast coast of the Yucatán Peninsula in the Mexican state of Quintana Roo.

Marina Town Center is now the largest retail asset in Thor Urbana’s portfolio which also includes assets like Calle Corazón, in Playa del Carmen, as well as a portfolio of retail units with a GLA of 17,500m² in Playa del Carmen’s Quinta Avenida. The property company also owns assets in Mexico City’s key high streets Altavista and Masaryk.

The shopping centre which started trading in May 2017 has a balanced retail mix in its 150 units including fashion brands such as H&M, Zara, Hugo Boss and Sephora, as well as a complementary offer of general retailers like West Elm, Innovasport and Best Buy.

The shopping center is located at the entrance of the Puerto Cancún project which is being developed by MIRA Companies along with other developers and which is expected to add 5,500 new homes, luxury hotels with over 700 rooms, a marina for 700 boats, a golf course and various beach clubs.

Thor Urbana was founded by Jaime Fasja, Jimmy Arakanji and Joseph Sitt and is a leading real estate investment and development company based in Mexico City which focuses on high quality retail, hotel and mixed-use investment projects. Currently the firm is developing multiple projects spread throughout the country in places such as Mexico City, Guadalajara, Playa del Carmen, Merida, Metepec, Los Cabos, amongst others. Some of the projects that are about to open are Town Square Metepec, in the State of Mexico, with 90,000m² of GLA, the Landmark in Guadalajara, with 25,000m² and The Harbor Mérida with over 70,000m².