Logistic Properties of the Americas announced the execution of a new five-year, U.S. dollar-denominated lease for 121,600 square feet of logistics space. The agreement was signed with a regional third-party logistics provider at LPA Coyol 4 Logistic Park in San Jose, Costa Rica. This new lease reflects approximately a 20% increase in the net effective rental rate, including common area maintenance fees, compared to the previous agreement for the same space.
This significant rental rate increase underscores the high demand and rising value of institutional-grade logistics properties in Costa Rica. The LPA Coyol 4 Logistic Park is located in the country’s leading logistics corridor, offering exceptional connectivity to key transportation routes and state-of-the-art Class-A warehouse facilities.
CEO Esteban Saldarriaga stated that the rental increase demonstrates strong market fundamentals and the team’s ability to generate value through strategic execution. This agreement further extends LPA’s expanding presence in Latin America and aligns with its mission to offer high-quality logistics spaces.
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