Logistic Properties of the Americas (LPA) announced the execution of a new five-year U.S. dollar- denominated lease for 121,600 square feet of logistic space with a regional third-party logistics provider at LPA Coyol 4 Logistic Park in San Jose, Costa Rica. This new agreement reflects approximately a 20% increase in the net effective rental rate, including common area maintenance fees, compared to the previous lease for the same space, which underscores the high demand and increasing value of institutional-grade logistics properties in Costa Rica.
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