LatAm Logistic Properties Announces New Leases Totaling 17,300 Square Meters (186,000 Square Feet) In Costa Rica
SAN JOSE, Costa Rica, Dec. 14, 2016 /PRNewswire/ -- LatAm Logistic Properties ("LLP") is pleased to announce a build-to-suit lease transaction with a global logistics Fortune 500 company for 12,200 square meters (131,000 square feet). In addition, LLP signed two pre-lease agreements with The Kraft Heinz Company (NasdaqGS: KHC), a major global food and beverage company, and another leading consumer goods company for a combined 5,100 square meters (55,000 square feet).
The three leases are at LatAm Parque Logistico Coyol, a top tier Costa Rican warehouse facility located on the Coyol Highway and in close proximity to the San Jose International Airport. The unique location is well connected to the local consumer population as well as the Pacific and Atlantic ports. LatAm Parque Logistico Coyol can accommodate a total of 65,000 square meters (700,000 square feet) of prime facilities with efficient layouts and clearing height that maximize storage volume.
Mike Fangman, Founder and CEO of LatAm Logistic Properties, said: "We are very excited to sign these new leases. Domestic consumption is strong and we continue to see demand for our modern logistics facilities as companies seek to consolidate their operations to achieve greater efficiency and lower operational costs. LLP's high-quality facilities in premium locations meet customers' demand for higher logistics efficiency. We look forward to supporting our customers as they continue to expand across the region."
"The high quality of our project combined with our strategic location and accessibility has been met with high demand from the market, as evidenced by these deals with top companies," mentioned Aris Stamatiadis, Costa Rica Country Manager of LatAm Logistic Properties.
About LatAm Logistic Properties
LatAm Logistic Properties develops, acquires and owns Class-A industrial properties in the target markets of Costa Rica, Colombia, Peru, and Panama. LatAm Logistic Properties was founded in 2013 by Mike Fangman and Jaguar Growth Partners joined as an investor and strategic partner in 2015. LatAm leverages its team throughout the region via a deep understanding of global customer demands, international best practices in design specifications and construction best practices along with local expertise in market dynamics, site selection and regulatory approvals.
Please see www.latamlogisticproperties.com for additional information.
About Jaguar
Jaguar Growth Partners is a privately-held investment management firm specializing in real estate private equity in growth markets globally. Founded in 2013 by Gary Garrabrant and Thomas McDonald, Jaguar invests in and develops scalable real estate-related operating platforms and companies poised to grow in markets characterized by an expanding middle class, aspirational youth, urbanization and other secular trends found in emerging global economies.
Please see www.jaguargrowth.com for additional information.
CONTACT: Zach Kouwe, 551-655-4032, [email protected]
SOURCE LatAm Logistic Properties
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