Plaza Centro Mall

In 1986, being developed by S.B.S.C.A. Associates, Plaza Centro would open its doors to the public with its main anchors Kmart and a Pueblo Xtra supermarket. This ambitious project would become a reality at a cost of $13 million being financed by Banco Popular de Puerto Rico.^[1][2]

Enclosure and success: 1990s-2000s

On April 10, 1998, it was reported that JCPenney would be expanding in Puerto Rico, planning to open two stores by 1999. One being in Caguas at the time soon to open Plaza Centro II expansion, and another in Humacao at the Plaza Palma Real shopping center.^[3]

On August 17, 2000, it was reported that the 280,000 square foot expansion that connected Plaza Centro I and Plaza Centro II had been inaugurated. The mall, renamed the Plaza Centro Mall, comprised some 980,000 square feet of retail space. Plaza Centro was said to be 95% open by that following month. At the time, the mall was 50% open. Plaza Centro retail stores included Almacenes Plaza, A Toda Moda,

On September 14, 2000, it was reported that the Group U.S.A. chain of stores had recently opened its third and largest local store at the Plaza Centro Mall. The 24,000 square foot store featured a bridal salon and had been received very well, according to then local company manager Luciana Cazares.[5]

On October 8, 2000, it was reported New York based RD Management, then owner and operator of various malls in Puerto Rico, had almost fully opened the doors of its latest shopping center, Plaza Centro Mall. The 280,000 square foot mall expansion featured more than 50 retail stores including JCPenney, Sam's Club, Group U.S.A., and a Caribbean Cinemas. Already operating in the mall's food court at the time was The Hot Potato, KFC, Sbarro, Burger King, and Panda Express while Church's, Taco Bell, Charley's Steakery, Churro Time, Quiznos, and El Sandwichon were getting ready to open.^[6]

On June 21, 2005, it was reported that Chuck E. Cheese would be opening their second location on the island at the Plaza Centro Mall, the location would be around 13,000 square feet and would employ some 60 people. At the time they were waiting for Pueblo Supermarkets to give up their space and close to make space for the new Chuck E. Cheese.^[7]

On January 26, 2006, it was reported that

In 2008, Burlington Coat Factory would open a 37,000 square foot store at the Plaza Centro Mall, serving as an anchor and taking up space of the former Pueblo Supermarkets.^[9]

On September 17, 2009, it was reported that California based International House of Pancakes (IHOP) was coming back to the local market. Construction was underway on a new IHOP location in Caguas' Plaza Centro at an estimated $1.7 initial investment.^[10]

2010s, and on

On May 12, 2011, it was reported that

On October 26, 2016, it was reported that local retailer Grand Way would inaugurate a new store at the Plaza Centro Mall on Caguas on October 27, shopping center officials said. The Plaza Centro store would occupy a 10,000 square foot space and would create 35 jobs. Grand Way's inauguration followed other store openings at Plaza Centro Mall including Helados Ico Rico, a local artisanal sherbet kiosk that catered to local taste buds, and others that would open shortly at the time such as Dream's Art, specializing in collectible toys, and Sarah's Palace, a women's clothing store.[12]

On January 29, 2018, it was reported that the Walgreens chain had confirmed the closure of 12 locations around Puerto Rico. This included the location at the Plaza Centro Mall, which had been affected after the Hurricane Maria in 2017.^[13]

On December 10, 2019, it was reported that local retailer Me Salvé was making history with the opening of its 101st store, the largest and most emblematic of the company, which had been serving the Puerto Rican people for 37 years. With the opening of the Me Salvé store in the Plaza Centro Mall, 15 to 20 direct jobs and over 50 indirect jobs were created.^[14]

On January 12, 2020, it was reported that the Kmart store located in Plaza Centro I, had announced that it would close its doors after over 30+ years of service. At the time, the exact date of the store's closure had not been reported, however liquidation sales would be available starting that week.^[15]

On February 18, 2021, it was reported that Plaza Centro I shopping center, owner MJS Caguas Limited Partnership, faced a $24.6 million collection and foreclosure lawsuit from U.S. Bank National Association, filed in the Caguas Superior Court. The lawsuit was correspondent to an outstanding $28 million loan originated by Canadian Imperial Bank of Commerce in January 2011. The loan was payable on monthly installments of $172,400.82 with an annual interest rate of 6.25% According to the legal filing, MJS Caguas stopped making the full monthly installments, pertaining to the outstanding principal and interest, beginning April 2020. In the document, U.S. Bank accuses MJS Caguas of defaulting under the terms of the note and loan agreement. The entire outstanding principal amount of the loan was due on February 1, 2021. U.S. Bank was asking the court to order the sale of the real estate property through public auction, the immediate appointment of a receiver to take possession of and manage, collect rents and other income derived from the property and the termination of the current property management agreement. Plaza Centro I is situated on a plot of land with an area of approximately 26 “cuerdas,” or 102,149 square meters, located in the Bairoa neighborhood of Caguas. It borders Highway 30, going from Caguas to Humacao, and Rafael Cordero Ave. Kimco Realty Corp. owns the adjacent Plaza Centro II retail property which has Costco, Sam's Club and PetSmart among its tenants.^[16]

On April 12, 2022, it was reported that BH Properties, a Los Angeles based real estate investment company, had acquired out of foreclosure Plaza Centro I, a 283,454 square foot strip shopping center. The strip center was built as the first phase of the nearly one million square foot Plaza Centro Mall. Renovated in 2017, it was at the time 50 percent occupied by 29 tenants. The adjacent and enclosed second phase, which was not part of the collateral, is anchored by Sam's Club, PetSmart, JCPenney, OfficeMax and Costco.^[17]

Current Anchors

• JCPenney
• Sam's Club
• Costco
• Burlington
• PetSmart
• OfficeMax
• Party City
• Planet Fitness
• Chili's Grill & Bar
• Ponderosa Steakhouse
• Chuck E Cheese's

Outparcel Tenants

• Pepboys
• Walmart
• Longhorn Steakhouse
• Krispy Kreme

Former Anchors

• Kmart
• Pueblo Supermarkets
• Masso

References