About this property
Property Description
Commercial office building consisting of approximately 62,607 square feet located at 279 Ponce de León Avenue in San Juan, Puerto Rico. The property is undergoing an approximately $5 million full modernization, encompassing significant improvements to the building's common areas, mechanical systems, office spaces, lobby, façade, green areas and connected parking structure.
The building features eight (8) office floors plus a mezzanine level, offering approximately 7,826 square feet per floor and accommodating a variety of single-tenant or multi-tenant occupancy configurations. The modernization is designed to enhance the building's functionality, appearance, and overall tenant experience while positioning the property to accommodate new full-floor office users.
The building's entrance and lobby are being significantly upgraded to create a modern and welcoming arrival experience. New landscaping and a plaza area will enhance the exterior approach, while the lobby will feature contemporary finishes, new lighting, and a digital display installation. The lobby also includes a mezzanine level accessible by both stairs and elevator, providing additional functional office space.
Each of the eight office floors is being upgraded with new tile flooring in the common areas, contemporary wall finishes, improved lighting, and ADA-compliant bathrooms. Existing carpeting within the office spaces will also be replaced. The floor layouts provide open office areas, private offices, and conference rooms designed to accommodate a range of corporate and professional office requirements.
A major component of the modernization is the replacement of the building's existing air-conditioning system with a new modern chiller system, representing an approximately $700,000 investment designed to provide centralized cooling throughout the building. The connected structured parking facility is also being modernized with newly painted parking lines, upgraded lighting, a new fire alarm system, and painting job to the outside and inside of the structure to complement the building's updated appearance.
Location Description
Located along Ponce de León Avenue in the heart of Hato Rey, the property sits within Puerto Rico’s premier financial and commercial district, commonly known as the Milla de Oro. This corridor serves as the island’s primary office market and is home to a dense concentration of financial institutions, corporate headquarters, government agencies, and professional service providers.
The immediate area is anchored by major employers and institutions, including Banco Popular de Puerto Rico, FirstBank Puerto Rico, Oriental Bank, Scotiabank Puerto Rico, and Aon.
The property also benefits from proximity to Plaza Las Américas, the Caribbean’s largest shopping destination, as well as major transportation routes connecting Hato Rey to the broader San Juan metropolitan area. Strong daily traffic counts, public transportation access, and a large daytime workforce contribute to the area's continued demand for office occupancy.
Highlights
- Approximately $5 million investment in full building modernization
- Approximately 62,607 SF office building
- Eight (8) office floors plus mezzanine level
- Approximately 7,826 SF per floor
- Modernized lobby with digital display installation
- New landscaping and plaza area surrounding the building
- New centralized chiller system representing an approximately $700,000 investment
- Upgraded office floor common areas with new flooring, lighting, wall finishes, and ADA-compliant bathrooms
- Open office layouts with private offices and conference rooms
- Modernized connected structured parking facility with newly painted parking lines, upgraded lighting, new fire alarm system, and exterior painting
- Approximately 156 parking spaces
- Parking ratio of approximately 2.49 spaces per 1,000 SF
- Prominent corner location with frontage on Ponce de León Avenue
- Excellent visibility and signage opportunities
- Located in Hato Rey / Milla de Oro, Puerto Rico's primary financial district
- Surrounded by major banks, corporate headquarters, and professional service firms
Property details
- Property Type
- Improved property
- Building Type
- Office
- Building Size
- 62,607 sqft
Available Spaces 1 space
- Lease rate
- $24 / Sq. Ft. / Year
- Lease type
- Triple Net (NNN)
- Total range
- 8,000 – 62,607 Sq. Ft.
| Space | Size |
|---|---|
| Office Building | 8,000 – 62,607 Sq. Ft. |
Location
- Address
-
279 Ponce de Leon Avenue
San Juan, 00918