magellan
solutions
March 11, 2010 07:57 pm
magellan
solutions
March 11, 2010 07:57 pm
San Juan Business District commercial leasing market
• Current commercial property market conditions are quite favorable for the establishment of office space in a prime commercial location such as the San Juan Business District ( Business District).
• In the San Juan Business District, supply of commercial space is at historic highs, office vacancies are at historic highs and office rents are at historic lows and forecasted to rise only nominally in 2004.
• The primary advantages of locating in the San Juan Business District include convenience to public transit (important to employees), proximity to international telco nodes and a reliable power grid and access to the Philippines' largest and highest-qualified labor force.
• Table below presents certain statistical information regarding the commercial leasing market in the Business District.
San Juan Business District commercial leasing statistics (US$1.00 = P55.00)
|
|
2004 |
2Q 2003 |
1Q 2003 |
Notes |
|
Rents - Premium grade |
+4.0% |
$0.80/ft. 2 ($8.80/m 2 ) |
$0.84/ft. 2 ($9.24/m 2 ) |
-50.0% since 1997 |
|
Rents - Grade A |
+4.0% |
$0.59/ft. 2 ($6.51/m 2 ) |
N/A |
-55.0% since 1997 |
|
Rents - Grade B and lower |
-5.0% |
$0.46 /ft. 2 ($5.05 /m 2 ) |
$0.48/ft. 2 ($ 5 . 31 /m 2 ) |
-60 .0 % since 1997 |
|
Vacancy - All grades |
N/A |
13.1% |
13.7% |
- |
|
Vacancy - Premium grade |
N/A |
23.1% |
24.1% |
- |
|
Vacancy - Grade A |
N/A |
14.7% |
15.7% |
- |
|
Vacancy - Grade B and lower |
Static |
11.0% |
11.4% |
- |
Sources: Colliers International; FPD Savills.
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