Two Minute Tour: León, Mexico

ABOVE PHOTO: El Palacio’s León, Mexico, outpost pays homage to the city’s history while boasting a range of brands across its three levels.

THE NUMBERS

León, Mexico, situated in the center of the country, is a hub of rich history and culture, and with 1.7 million inhabitants and growing, it is Mexico’s fourth-largest city. León’s industrial and population growth resulted from extensive leather and shoemaking production, and because of this, the city gained a reputation as the unofficial “Shoe Capital of the World,” producing approximately 132 million pairs per year, according to the National Institute of Statistics and Geography. The city is also known for its silver mining and production of luxury products from its natural materials. It is considered one of the most environmentally friendly cities in Mexico, according to the Institute for Transportation and Development Policy, having integrated bike lanes, wastewater reuse and energy cogeneration.

THE PULSE

León has a rich cultural heritage: World-renowned architecture including neo-Gothic cathedrals and Mexican Baroque buildings are part of the city’s skyline. The Wigberto Jiménez Moreno State Library and Guanajuato’s Art and History Museum both hold extensive historical collections with specialized exhibits and cultural services. Explora Park is a popular location for families with its walking paths, large green space, wildlife and educational programs.

THE HOT SPOTS

León has several shopping malls and markets, the largest being Plaza Mayor, with 1.2 million square feet of retail space. Plaza Mayor is anchored by Liverpool, West Elm, Innovasport and, most recently, a full-line El Palacio de Hierro store. The 200,000-square-foot space, spread across three levels, incorporates motifs that pay homage to the city’s history, including adding cobblestone in its aisles. “The store’s central atrium, which evokes the feeling of entering a silver mine, is a key architectural feature that symbolizes the town’s industrial heritage,” says Alec Zaballero, Managing Executive, TPG Architecture. “The children’s department showcases hand-drawn illustrations inspired by the local folktale ‘The Shoemaker and the Elves,’ further deepening the store’s connection to local craftsmanship and folklore.”

Beyond the retail space, León’s El Palacio locale also includes outdoor patios and in-store eateries, which “enhance the overall customer experience by offering diverse options and an opportunity for visitors to connect with the vibrant food culture of the region,” Zaballero says.

OBSTACLES AND OPPORTUNITIES

Mexico as a whole has seen an increase in real estate prices, with the average rental price increasing in 2024 by 1.4 percent compared to 2023. In addition, developers are slowing new construction projects for retail spaces and instead focusing on renovating existing spaces in 2025, which could cause increased occupancy rates and fewer vacancy opportunities for new retailers, according to real estate researcher SiiLA.

PHOTO GALLERY (35 IMAGES)
PHOTOS: PAÚL RIVERA, SALT LAKE CITY