Commercial Real Estate Booming In Costa Rica

Take a drive in San Jose, Costa Rica and you will see that commercial real estate seems to be doing quite well.  New commercial developments are opening all over San Jose Costa Rica, and the Central valley. The newest and largest recently announced, City Mall, with 185,000 sq meters for retail, dining, and family entertainment, is open in 2014.................

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One of the largest and most popular shopping centers in Costa Rica is Multiplaza in Escazu and it is expanding to its 5th phase . City Mall, which will be located in Alajuela, will be one of the largest malls in Costa Rica, and equal to all 5 phases of Multiplaza.

City Mall, which has yet to break ground, is already leased or sold at 95% occupancy. Brands such as Kenneth Cole, Abercrombie and Fitch, Chili’s, BW3′s (Buffalo Wing Chain from the midwest) are just a few of the headliners.  Lincoln Plaza is also about to open on the old grounds of the Lincoln School headlining Chili’s, Smashburger, Starbucks and more. Alajuela, Costa Rica has seen some of the fastest growth in Costa Rica. The demand for commercial space, retail and business administration in San Jose Costa Rica has grown dramatically during the past few years. Developers and builders are racing to keep up with the demand from both international and local markets for malls, call centers, call centers, business centers, and retailers.

One of the reasons San Jose is seeing such commercial real estate boom is numerous awards and high placement on several indices. For example, The MasterCard Global Destinations Cities Index 2012, San Jose Costa Rica was ranked as the sixth most important destination city in Latin America.

If you have interest in commercial leasing or commercial real estate in Costa Rica contact here where our San Jose office can specialize and consult more.