JLL: Net absorption of office space San Juan to remain negative in 2015.
According to Jones Lang LaSalle IP’s ‘Office Market Overview’ for Latin America, there was no supply of new office space in San Juan, Puerto Rico in 2014. There will not be any new supply in 2015. Expected net absorption is expected to be NEGATIVE 5,000 square metres in 2015, having been NEGATIVE 24,000 square metres in 2014. This is in the context of an overall vacancy rate of 20% across 768,000 square metres of space at the end of 2014. Class A office rents were USD14-24 per square metre per month.
Source : 31 Mar 2015/JLL/San Juan/OFF