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Altamira Reserve mixed-use complex under construction in Guaynabo

Altamira Reserve, an 80,133 square-foot mixed-use complex in Guaynabo next to the busy Econo Altamira grocery store, is currently under construction with plans to open in the first quarter of 2022.

The project is already visible from Martinez Nadal Ave. (PR-20) and is being developed by Bellagio Corp. for owner Rúa, LLC, which is also the proprietor of Econo, this media outlet confirmed.

According to the project description, JLL Puerto Rico Realty is in charge of leasing spaces spanning from 800 to 22,000 square feet, spread out across two floors. There will be lobby areas on both levels, as well as two balcony areas on the second story.

Vanessa Pérez, vice president of transactions at JLL, said the list of potential tenants includes restaurants, clinical labs, a beauty salon, and boutiques, among others, for the first level, and corporate offices for the top floor.

“The interest has been noticeable, because people are calling. We didn’t think it would be this fast, given the COVID-19 situation, but because we’re being aggressive and making good leasing offers to the first tenants,” she said, without disclosing the names of the future tenants.

The project is already visible from Martinez Nadal Ave. (PR-20).

Altamira Reserve will join a number of established retail neighbors within a five-mile radius, including San Patricio Plaza, Galería San Patricio, Plaza Caparra and Garden Hills Plaza, which combined generate significant traffic.  

In the marketing brochure, JLL also notes that the property will offer above-ground parking — 132 regular and nine handicapped spaces — as well as reserved underground parking facilities, offering 74 regular and four handicapped spaces that tenants may lease for exclusive use, Pérez said.

The property will connect to the Econo next door, so there will be additional parking available, Pérez confirmed.

Altamira Reserve will have access from the Econo entrance, as well as through another opening on PR-19, better known as Luis Vigoreaux Ave. The complex is walking distance — about four or five minutes away — from the Martinez Nadal Urban Train Station.

Author Details
Author Details
Business reporter with 30 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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