270 Property Highlights>> U.S. standard Class A Building
>> Considered the best office building for rent in Puerto Rico
>> 24-hour security
>> Backup generators
|Building Address||270 Avenida Luis Munoz Rivera, San Juan, Puerto Rico|
|Net Rentable Area||213,453 square feet|
|Location||Prestigious location on the “Golden Mile”, in heart of Hato Rey|
|Stories||20-story office tower, including 7 levels of parking|
|Parking||2.3 spaces per 1,000 square feet|
|Amenities||Provides high-quality services including: concierge, 24-hour security, cleaning, on-site parking, urban train station, a lobby restaurant and prime location on main intersection|
|Typical Floor Plate||18,000 square feet (approx.)|
|Lease Type||Triple Net|
|Base Rent||$25 per square foot|
|Tenant Improvements||Allowance for space improvements|
|Typical Lease Term||Ten (10) years with extension options|
270 Munoz Rivera represents the highest standard of office buildings for lease in Puerto Rico. The building was built in 1993 and is widely considered to be one of the premier office towers in Hato Rey, which is the top office market in Puerto Rico. The property and office spaces were developed and built to the industry’s highest standards, design and finishes. 270 Munoz Rivera features an on-site parking garage and boasts 2.3 per 1,000 square feet parking ratio. The property is able to attract leading institutional and regional tenants thanks to its high quality and superior location.
Standing 20 stories tall, the building is one of the tallest buildings in Hato Rey and it’s double-glazed bronze reflective glass windows offer panoramic views of the Atlantic Ocean, the San Juan landscape and Downtown Hato Rey.
At San Juan’s top commercial property for lease, tenancy includes many multinational, Fortune 500 and investment credit tenants that provide secure, long term cash flow. 270 Munoz Rivera has demonstrated historical stability with an average occupancy of 96%. Additionally, many of the tenants including McConnell Valdes, Xerox and Ikon have been at the property for over a decade.
Details on Surrounding Area & Demographics
Hato Rey is widely considered Puerto Rico’s principal business and financial center, accounting for approximately 48% of the total San Juan office-market. Hato Rey includes the largest concentration of banks, accounting & law firms, as well as insurance companies. The core district of Hato Rey, known as the ‘Golden Mile’, contains the highest quality buildings, including the trophy assets of American International Plaza & 270 Plaza.
270 Plaza is already home to McConnell Valdes, Barclays, Citibank, Xerox and AXA Equitable.