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PANAMA CITY PANAMA OFFICE RENTALS
Panama Office Rentals is boutique provider of workspace solutions in Panama. We are where we are today thanks to our experienced Office Space Experts, who know the market inside out. Our customers are a group of outstanding diversity, ranging from some of the most successful individuals, entrepreneurs and multi-million-dollar corporations.
Centrally located office rentals space in the heart of Panama City that can suit all your commercial real estate rental needs. Parking, 24-hour security, from ocean and city view office space to small economical full-service offices and in the prime commercial areas of Panama City. Look at our office rental space listings to find the perfect office space for your needs
Plaza Paitilla office mall has opportunities available now
At Panama Office Rentals, we offer centrally located office rentals space in the heart of Panama City, a thriving community that you can become part of and flourish to your fullest potentials. Partnered with Premier Casa we look after people and care about their needs, enabling them to work where they want, how they want, when they want, at a diverse range of prices.
Let Panama Office Rentals find your perfect office.
We currently boast flexible workspace solutions in Plaza Paitilla Mall. Also known as Centro Commercial Plaza Paitilla, it is situated at the Paitilla end of Balboa Avenue, which is one of the capital city's high-end residential and commercial areas.
Plaza Paitilla offices enjoy one of the best locations in Panama City from where you can easily go to the heart of the city, Costa del Este as well as the northern corridor that leads directly to the airport. This accentuates the accessibility necessary for you as well as your clients and your employees to get to the office. Plaza Paitilla with RBS tower is already home to a multitude of institutions and companies who are making the best out of our office rentals. RBS tower is soon to be the home of the newly located Korean Embassy. It is across the street from the Hardrock, Radisson, and Golden Tower 5-star hotel as well as the multicentral retail mall. Interconnected to Plaza Paitilla is RBS office tower, a luxury office building. You can find rental and the occasional sale opportunities on this page, which is primarily focused on space within and in the immediate area of Plaza Paitilla Mall. Or visit our partner's page, Premier Casa, for commercial space throughout Latin America.
See it for yourself by paying a visit to the businesses of the Plaza Paitilla area and feel free to contact us about locating your business in one of Panama City's most high-end areas. We want to create a custom workplace experience here, where you are free from any hassle and free to inspire employees and foster a culture that attracts top talent and boosts
AVE BALBOA, PAITILLA RBS TOWER OCEAN VIEW OFFICE SPACE FULL SERVICE FURNISHED RENTAL
$175 Daily | $700 Weekly | $2,000 Monthly
Location : Panama, Panama City, Punta Paitilla
Panama Rental Office Market
Our investor clients are very curious about the Panama City rental market. They are eager for accurate information based on which they can make the best out of as well as secure their commercial real estate investment.
As a competitive office rental management firm in Panama City, we keep up to date with information on rates, occupancy and the latest trends. More importantly, we interact with countless landlords and tenants, including representatives of multinational corporations, giving us real insight into the market.
This is what we know about the market.
Panama has the most competitive and largest logistics capacity in Latin America and is among the 25% of the countries with the highest score in the world, according to NAI Global's 3Q16 Market Report on Latin America and the Caribbean. In addition, Panama's activating market confidence along with Fiscal and Labor incentives remain important attractions to multinational companies.
Panama was praised by Forbes, "Panama City is becoming the financial center of Latin America, with scores of global and Latin-American financial institutions having a sizable presence there."
According to the International Monetary Fund (IMF), Panama's economy grew by 5.8% in 2015, after booming GDP growth rates of 6.1% in 2014, 6.6% in 2013, 9.2% in 2012, 11.8% in 2011, and 5.8% in 2010. The economy picked up steam in 2017 and 18, again remaining the fastest-growing economy in the Central American region for the year, despite a slowdown in annual GDP growth in the fourth quarter of 2017. The expanded Canal, strong foreign direct investment inflows (especially from China), and large public work projects (urban renewal of Colón and an expansion to the Metro line in the capita) will keep GDP growth rates above 5% in 2018-19.
Drawing from the same report of NAI Global, vacancy rates in Panama since the last trimester remain stable, as new offices are delivered and occupied. Office sales and lease values increased very slightly but continue to stabilize. This resonates with figures from other reports of Panama that indicate average rents in the office have been stable, stressing that new tenants are enjoying very favorable conditions due to a surge of supply which has been built up over the past 24 months looking to take advantage of increased economic activity brought about by the expansion of the Panamá Canal and proliferation of free trade agreements, including the new FTA signed between Korea and Panama where Panama will serve as a logistics hub for the growing trade between Asia and Central America.
In essence, what we see are multinationals continuing to rent and expand, and large infrastructure projects like the Panama metro and growth in the logistics sector continuing to draw professionals and executives from around the world to Panama. This results in a much more stable environment than an industry built on speculators and flippers.
We are seeing positive transformations in the market. Both renters and sales prospects have become more selective. They are educating themselves and making smart choices.
Foreigners can own real properties in Panama. They enjoy the same property rights as Panamanians. However, financing your real estate purchase with mortgages can be difficult, especially for foreign buyers. The process can take two to three months. More than 80% of real estate transactions involving foreign buyers are in cash.
How to Choose the Best Office Space for Your Business in Panama
Needless to say, what you choose is incredibly important to your business. You would want an environment that increases innovation, collaboration, and productivity. It all boils down the most essential factors that contribute to the best office space choice, which at Panama Office Rentals we like to call it PRIME – Price, Room, Infrastructure, Management, Efficiency.
Price
Price is probably one of the first things most businesses want to know when they are choosing a new office. It really has to be thought of in terms of the best value. If you spend too little, you might either end up with an office you're not satisfied with or find yourself moving out within a short time. You also do not want to spend too much, otherwise, you might struggle to pay the rent or move again elsewhere to downsize. Neither of those scenarios are ideal. It is about finding just the right value that is the best for your business budget and goals.
Ask yourself the following questions when considering how much to spend on your next office space:
- 1. Can I afford a three-month rent deposit on this office right now?
- 2. Have I asked about any hidden costs? (Maintenance, the extra cost of parking, etc.)
- 3. Is this office priced in line with similar office spaces in the area?
- 4. What is the extra value this space brings to my business
The first question gives you a sense of affordability and knowing about hidden costs prevent you from being stung with charges you did not expect. The third question is simply to make sure you are getting the best deal possible. The last question lets you look at the added value of the perfect office space for your business. At Panama Office Rentals, we ensure that our clients are getting value for their money.
Room
Having the square meters in hand, what's next is to figure out if everything can fit into the space. One suggestion is to get your office design company to do a 'test fit' of the space before deciding on a property. This will allow you to grasp exactly the right amount of space for your business. For smaller offices, if that is not an affordable option, consider mocking out a potential layout with newspaper taped together to represent desks, chairs and other equipment. It might sound like a foolish idea at the moment, but it's a great way to better visualize how you will optimize the space.
Efficiency
Room for your office also speaks a great deal about efficiency. A particular property might offer a slightly lower lease rate, but it might not appear like the most economical deal when comparing a tenant's total cost of occupancy on an "apples to apples".
Look at this example. You may be offered a 1,000-square-meter space with a 20 percent load factor, meaning that one-fifth of the leased space on which the tenant pays rent is not usable for business purposes—it's made up of elevator lobbies, hallways and restrooms.
Another competitor may offer 1,000 square meters with a 12 percent load. Even if the first offer's rent is cheaper, the second option may be a better deal because you can fit 42 desks in that space, but only 35 desks into the office with the higher load factor.
As you are making comparisons between alternatives, don't forget the occupancy cost. Based on usable square feet, you can figure out differences in common area factors and space efficiency. This will help you identify both an absolute and present value basis.
Efficiency also includes location.
Ask yourself the following questions:
- 1. Easy access can clients get there easily?
- 2. Can employees come to work easily?
- 3. One often overlooked commute time factor that is "elevator rush hr" as Panama has some of the tallest buildings in Central America this is not always a good thing in a commercial workspace where the rush hr elevator travel can be ½ hr to the 70th floor.
If you find an office that ticks all the boxes, then you're well on your way to finding a good location. Additionally, the security of the neighborhood as well and what's close to the office should also be thought through. All of these factors are important for keeping your clients and staff happy! This is why the Plaza Paitilla area is a huge hotspot for businesses in Panama City. It enjoys one of the best locations in the city from where you can easily go to the heart of the banking district, Costa del Este as well as the northern corridor that leads directly to the airport while being very close walking distance to a huge residential area as well as close to the major bus routes as well
Infrastructure
This is a more important feature for some businesses than others. In the tech era, there are not many businesses that can function efficiently without a reliable internet connection. Buildings connected with fiber optics provider choices are becoming essential in today's world. Or small managed office spaces with internet included.
Additionally, the last thing you want is to have an Internet line that is being interrupted constantly or collapses under the strain of a particularly busy day. That said, the quality and reliability of the service matters too.
Infrastructure doesn't mean just the internet, either. Telephone connections should also be taken into account. The latter might not be that important to you due to the prevalence of mobile phones.
Also parking for staff and visitors cost of parking, type of air-conditioning and cost, Security in the building. For example, RBS tower has met the security requirements of the Korean Embassy. Type and speed of the elevators.
Management
A well-managed property makes everything easy. Property managers are your primary point of contact with the building owner.
Before making a building selection, consider the performance of the property manager, their level of involvement with the property and their face time with existing tenants. The No.1 factor that determines the satisfaction of tenants is how frequent is the contact between them and the property manager, according to regular tenant surveys. Where is their office located?
The image of the building and its tenants can play a role in developing your brand, as well as recruiting and retaining employees.
Panama Office Rentals an office and commercial building management group is aware of this necessity. Having been in business since 2002 with a reputation for excellence, integrity, excellence, and innovation in commercial property, office and office center management services. Provide bill pay service, cleaning services, a full-service maintenance program that can oversee everything from minor repairs to major remodeling to maintain the quality look for your businesses. Whether you are in need to rent an office space or in need of management for your well-located quality office space feel free to contact us for more information.
PLAZA PAITILLA PRIVATE OFFICE FOR RENT 32E 8,5m2
$225 Monthly Long Term
Location : Panama, Panama City, San Francisco
AVE BALBOA, PAITILLA RBS TOWER OCEAN VIEW OFFICE SPACE FULL SERVICE FURNISHED RENTAL
$175 Daily | $700 Weekly | $2,000 Monthly
Location : Panama, Panama City, Punta Paitilla
PLAZA PAITILLA BUSINESS OFFICE FOR RENT 41 45.11m2
$851 Monthly
Location : Panama, Panama City, San Francisco