SAN JOSÉ,
The new leases, which comprise a total gross leasable area (“GLA”) of 417,365 square feet, and represent approximately 6.0% of the existing portfolio, include the following:
LatAm Lima Sur Logistic Park ,Lima, Peru . A major Peruvian importing, marketing and distribution company, which distributes its own brands as well as many global brands, has pre-leased 222,700 square feet, or 100%, ofBuilding B500 for a 10-year term. The facility is expected to be completed in the first quarter of 2024.LatAm Lima Sur Logistic Park is a six-building complex located in the Lurin district, a growing urban hub ofPeru . Including the new lease, the total project occupancy for the Lima Sur complex will be approximately 95%.LatAm Callao Logistic Park , Callao,Peru . One of the leading mass consumer branded products companies in theAndean Region , headquartered inPeru and operating across several Latin American countries, has pre-leased 102,000 square feet, or approximately 62%, ofBuilding B100 in this 4-building complex for a 6-year term. Strategically located in a modern complex adjacent to Jorge Chávez Airport,Building B100 is expected to be completed in late 2023. Including the new lease, the total project occupancy for the LatAm Callao complex will be approximately 85%.LatAm Verbena Logistic Park , San José,Costa Rica . A Fortune 500, US-based branded consumer products company has pre-leased 92,665 square feet, or approximately 60%, of a new facility under development, for a 5-year term. The facility is expected to be completed in the first quarter of 2024. The facility is located in the LatAm Verbena Logístic Park complex, which comprises a total of 834,000 square feet. Including the new lease, the total project occupancy for the Verbena complex will be approximately 94%.
“We are pleased that these new leases represent the continued realization of LLP’s well-established strategy of providing modern, world class logistic properties to meet the needs of major multi-national tenants,” stated
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