Hato Rey Development Site FOR SALE

Hato Rey Development Site Video

Location: 680 Calle Teniente César Luis González, Hato Rey, San Juan, Puerto Rico 00918

Property Description: The property currently contains a three-story, 17,206 SF office building accompanied by 80 surface parking stalls. With some improvements, the current vacant structure would be ideal for a multi-tenant leasing scenario, a single-user flagship office or a sales center.

On October 3, 2008 the Puerto Rico Planning Board authorized the demolition of the existing improvements and the construction of a 515,400 square foot 18 story office building. However, this approval expired on October 2, 2010. Even though the approval expired, local regulations allow to re-open previously approved location consultations. As such, and considering the existing commercial office use, the assumption lies that middle or high-density commercial uses are and will continue to be legally permissible at the subject property. (Currently zoned R-5, now R-A).

Location Highlights:

• Urban Train, Puerto Rico’s rapid transit system serving San Juan, Guaynabo and Bayamón, has several stations in the immediate area
• Property is complimented by several residential condominium towers, dozens of restaurants, pharmacies, professional services, banks gas stations and other commercial uses within walking distance
• The property enjoys adequate frontage and access to Cesar Gonzalez Street and enjoys proximity to main roadways of the area like Jesus T. Piñero Avenue, Ponce de León Avenue, Luis A. Ferre Expressway and Domenech Avenue, among others.
• The Central Business District is also known as Hato Rey and contains the largest concentration of financial institutions, accounting firms, insurance companies and law firms in Puerto Rico
• Approx. 1 mile from University of Puerto Rico Rio Piedras which offers higher education opportunities to nearly 21,000 students
• Approx. 1 mile from from Plaza las Americas Shopping Mall, the largest and most profitable shopping center in the Caribbean
• The largest indoor arena in Puerto Rico, Coliseo de Jose Miguel Agrelot, is less than 2 miles away and is easily accessible

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