Logistic Properties of the Americas (LPA) has signed a new five-year U.S. dollar-denominated lease for 121,600 square feet at its LPA Coyol 4 Logistic Park in San Jose, Costa Rica.
The lease is with a regional third-party logistics (3PL) provider and reflects a 20% increase in net effective rent, including maintenance fees, over the previous lease for the same space.
The company emphasized that this deal illustrates the rising demand and value of institutional-grade logistics facilities in Costa Rica. CEO Esteban Saldarriaga highlighted the expansion of a reputable operator into Coyol 4 as a testament to strong market fundamentals and the firm's strategic execution capabilities.
Luis Conejo, Country Manager for Costa Rica, noted that the Coyol area remains a prime destination for top logistics providers due to its superior connectivity and advanced warehouse infrastructure.
The new lease supports LPA's broader mission to expand its Latin American footprint while offering high-quality logistics solutions tailored to modern supply chain needs.
LPA is currently trading at $7.5, or 5.35% lower on the NYSE American.
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