Tuesday, February 14, 2012

New Construction, New Stores in Puerto Peñasco

Puerto Peñasco is seeing some construction that is not tourist related, which is a good sign for the long term economy of the city.

Two major multinational corporations are bringing their stores to Rocky Point: AutoZone and Sam's Club.

Construction is well underway on the AutoZone store, which is located on the corner of Boulevard Benito Juarez and Samuel Ocana (the first intersection coming into town, with a traffic light). It is expected to bring business and robust revenue into town from nearby municipalities such as Caborca and Sonoyta due to the abundance of old cars in Mexico and a shortage of quality parts.

AutoZone de Mexico, an auto parts super store that opened its first location in 1998 in Nuevo Laredo, now has 49 stores in Mexico and is expanding rapidly. This store will be number 50.

Construction has not yet begun on the Sam's Club, which will be located next to the Bodega Aurrerá on Boulevard Benito Juarez, and the start date for that is unclear. However, all the permits for the construction are already in place. It is estimated that Sam's Club will hire a staff of around 120, which will be an important boost for Puerto Penasco.

In addition to these two new stores is the dangling carrot of potential investment by Donald Trump, Jr., Executive Vice President of Trump International, who recently paid a second visit to Puerto Peñasco to confirm his interest in investing in the area once there are signs of economic recovery in the U.S. Trump Jr. met with Sonora Governor Guillermo Padrés Elías, along with members from the private sector. He told Mayor Alejandro Zepeda Munro that Puerto Peñasco would be the first city in Latin American where he would invest.

Presumably he does not count the fiasco of the Trump Baja condo tower in Rosarito Beach, Baja, as an investment, though at the time the Trumps led buyers to believe they had an equity investment in the property. In reality, the Trumps had merely franchised their name in a branding agreement. Lawsuits over that failed development, as well as several others like it within the USA, are currently making their way through the courts.

It is not yet clear what type of investment is envisioned by the younger Trump, though it is likely to include the hotel segment, and of course there is no concrete date as to when these new investments would be made.

In the meantime, the continuing investment in stores that directly serve the community, such as Bodega Aurrerá, AutoZone and Sam's Club, bring much needed revenue and stability to the Rocky Point area and provides more options for residents in acquiring goods and services.

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