The new office center in San Pedro has been built by the group that owns the San Pedro Mall.
The company spokesman, Guido Granados, said in an article on the website of El Financiero that, "Two of the buildings are to be used for class A office rentals in sizes that go from 160 square meters upwards. The third building is devoted to parking, which has a total capacity of 750 spaces. "
The manager of Sigma Business Center added that there is a total area of 20,000 square meters of office space for rent.
When setting up an office block you need to provide ancillary services such as restaurants, banks, pharmacies, gyms, convenience stores, and even health care.
The growing supply of office space requires a differentiation strategy which is not just about the quality of the buildings, but the added value that is given with accessibility to services needed for both corporate functions, and employees.
An increase in the supply of offices in Panama City is putting downward pressure on occupancy levels.
According to the consultant Indesa, the occupancy level in the first quarter of 2011 was 95.4%, versus 86.5% for the same period this year.
Speaking about the topic, the Corporate Finance Director of Indesa, Francisco Escoffier, said that, "In the next couple of years it is not expected that the total demand for offices, including locally generated demand and the demand generated by the arrival of multinationals, will be enough to absorb new supply coming, so the available inventory will go up and occupancy will do down ... in the research occupancy means that there is physically one tenant in the property, which is a conservative definition. "
The east of the capital of Costa Rica has become an important pillar for real estate development, and will receive $40 million in investment for a Class A office center
From the press release:
San Jose, Costa Rica, July 21, 2011 - 4D Real Estate Development has announced the start of works at TERRA Corporate Campus, a Class A office center located in one of the sectors of the city with the fastest growing economic dynamism.
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