A new tenant has been secured for the former Kmart location at Plaza Las Américas shopping mall in San Juan, Puerto Rico, marking a key step in the mall’s revitalization efforts.
Plaza Las Américas reached a definitive agreement with the new tenant on February 20, 2026, according to reports. While details regarding the identity of the new occupant have not yet been publicly released, the move comes as the mall responds to recent retail changes, including the closures of both Sears and Sears Brand Central.
The Kmart store had been vacant since 2022, and its closure followed years of financial challenges for the department store chain, which ultimately led to restructuring, and downsizing. The arrival of a new tenant is a crucial component of Plaza Las Américas’ plans for expansion of both its commercial and food offerings before the end of the year, as reported by El Nuevo Día.
Edwin Tavárez, general manager of Plaza Las Américas, confirmed in a written statement to El Nuevo Día that the mall had entered into a definitive agreement with the lessee. El Nuevo Día sources indicate that the agreement covers part or all of the building formerly occupied by Kmart.
The changes at Plaza Las Américas reflect broader trends in the retail sector, as shopping malls adapt to evolving consumer preferences and the growth of e-commerce. The mall’s expansion plans suggest a focus on diversifying its tenant mix to attract shoppers and maintain its position as a leading retail destination in Puerto Rico. Further details are available from Archyde.
