Industrial Real Estate: Leasable Area Up 5%

Between the first quarter of 2020 and the same period of 2021, the total leasable area in Panama City increased by 4.79%.

Tuesday, June 22, 2021

Commercial real estate consulting firm Newmark Central America reported that the industrial and logistics real estate market inventory in the Panamanian capital totaled 1,420,480 square meters (m2) of total leasable area, a figure that exceeds the estimate of a year ago.

Newmark estimates that the vacancy rate for this type of real estate is close to 8%, a level that is considered healthy in the real estate sector.

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Danny Quiros, Market Research Director of Newmark Central America, told "... for the rest of 2021, it is expected that the logistics industry and value-added activities will maintain these positive occupancy levels, as well as real estate under construction that corresponds to the BTS model (buildings tailored to the users)."

Regarding sector trends, Quiros said that "... the market must maintain and increase demand levels and provide products with the flexibility and specifications required by users that add value to the logistics industry, manufacturing, and local distribution."

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Cien Bodegas

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Phone: (502) 5204 0426 - (502) 4457 8334

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