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Logistic Properties of the Americas (NYSE American: LPA) has signed a USD-denominated lease for 41,226 square feet at Parque Logístico Callao with a leading third-party logistics provider in Peru. This brings the facility’s occupancy to 85.9% of its 418,543 square feet currently under construction. The master-planned Class A logistics park, located near Jorge Chávez International Airport in Lima, will ultimately comprise four buildings totaling 1,044,432 square feet. The project aims for EDGE certification with some buildings targeting LEED Gold certification and is expected to create 300 construction jobs and 1,000 operational jobs when completed.
Logistic Properties of the Americas (NYSE American: LPA) ha firmato un contratto di locazione in USD per 41.226 piedi quadrati presso il Parque Logístico Callao con un importante fornitore di logistica di terze parti in Perù. Ciò porta l’occupazione della struttura all’85,9% dei suoi 418.543 piedi quadrati attualmente in costruzione. Il parco logistico di classe A, pianificato in modo master, si trova nei pressi dell’Aeroporto Internazionale Jorge Chávez a Lima e comprenderà alla fine quattro edifici per un totale di 1.044.432 piedi quadrati. Il progetto punta alla certificazione EDGE con alcuni edifici che puntano alla certificazione LEED Gold e si prevede che creerà 300 posti di lavoro nella costruzione e 1.000 posti di lavoro operativi una volta completato.
Logistic Properties of the Americas (NYSE American: LPA) ha firmado un contrato de arrendamiento en USD por 41,226 pies cuadrados en el Parque Logístico Callao con un importante proveedor de logística de terceros en Perú. Esto lleva la ocupación de la instalación al 85,9% de sus 418,543 pies cuadrados actualmente en construcción. El parque logístico de clase A, planificado de manera maestra, se encuentra cerca del Aeropuerto Internacional Jorge Chávez en Lima, y comprenderá finalmente cuatro edificios que totalizan 1,044,432 pies cuadrados. El proyecto busca la certificación EDGE, con algunos edificios orientados a la certificación LEED Gold, y se espera que genere 300 puestos de trabajo en la construcción y 1,000 puestos de trabajo operativos una vez finalizado.
Logistic Properties of the Americas (NYSE American: LPA)는 페루의 주요 제3자 물류 공급업체와 함께 Parque Logístico Callao에서 41,226 평방 피트에 대한 USD 기준 임대 계약을 체결했습니다. 이로 인해 현재 건설 중인 418,543 평방 피트의 시설 점유율은 85.9%에 달하고 있습니다. 리마에 위치한 이 클래스 A 물류 공원은 궁극적으로 1,044,432 평방 피트에 달하는 네 개의 건물로 구성될 예정입니다. 이 프로젝트는 EDGE 인증을 목표로 하며 일부 건물은 LEED Gold 인증을 목표로 하며, 완료되면 300개의 건설 일자리와 1,000개의 운영 일자리를 창출할 것으로 예상됩니다.
Logistic Properties of the Americas (NYSE American: LPA) a signé un bail en USD pour 41 226 pieds carrés au Parque Logístico Callao avec un important fournisseur de logistique tiers au Pérou. Cela porte l’occupation de l’installation à 85,9 % de ses 418 543 pieds carrés actuellement en construction. Ce parc logistique de classe A, planifié de manière globale, situé à proximité de l’aéroport international Jorge Chávez à Lima, comprendra finalement quatre bâtiments totalisant 1 044 432 pieds carrés. Le projet vise à obtenir la certification EDGE, avec certains bâtiments visant la certification LEED Gold, et devrait créer 300 emplois dans la construction et 1 000 emplois opérationnels une fois achevé.
Logistic Properties of the Americas (NYSE American: LPA) hat einen USD-basierten Mietvertrag über 41.226 Quadratfuß im Parque Logístico Callao mit einem führenden Drittanbieter-Logistikdienstleister in Peru unterzeichnet. Dadurch steigt die Auslastung der Anlage auf 85,9% der derzeit in Bau befindlichen 418.543 Quadratfuß. Der master-geplante Class-A-Logistikpark, der sich in der Nähe des Jorge Chávez International Airport in Lima befindet, wird letztendlich aus vier Gebäuden mit insgesamt 1.044.432 Quadratfuß bestehen. Das Projekt strebt eine EDGE-Zertifizierung an, wobei einige Gebäude auf eine LEED-Gold-Zertifizierung abzielen, und es wird erwartet, dass es nach Fertigstellung 300 Baujobs und 1.000 operative Jobs schaffen wird.
Positive
- High occupancy rate achieved at 85.9% for space under construction
- Secured USD-denominated lease agreement, reducing currency risk
- Strategic location next to major international airport
- Project designed to meet premium sustainability certifications (EDGE and LEED Gold)
Negative
- Significant remaining space to be constructed and leased (over 625,000 square feet)
Insights
The lease agreement represents a significant milestone for LPA’s Parque Logístico Callao development, securing 41,226 square feet and bringing total occupancy to 85.9% before construction completion. The project’s strategic location near Jorge Chávez International Airport and USD-denominated lease structure provide valuable currency risk mitigation and premium positioning in Lima’s supply-constrained market.
The development’s total planned area of 1,044,432 square feet with EDGE and LEED Gold certification targets positions it as a premium asset in Peru’s logistics sector. The high pre-leasing rate to quality tenants in the pharmaceutical and medical device sectors indicates strong market validation and suggests robust rental income potential. The project’s scale and early leasing success signal strong potential for value creation as Lima’s logistics market continues to mature.
SAN JOSE, Costa Rica–(BUSINESS WIRE)– Logistic Properties of the Americas (NYSE American: LPA) (“LPA” or the “Company”), today announced the signing of a USD-denominated lease for 41,226 square feet of gross leasable area (“GLA”) at Parque Logístico Callao with a leading third-party logistics provider that serves the pharmaceutical, medical device, and consumer goods sectors in Peru.
This agreement increases the leasing of Parque Logístico Callao to 85.9% of the 418,543 square feet of GLA currently under construction, further solidifying Parque Logístico Callao’s position as a premier logistics hub in Lima, Peru, where premium, strategically located industrial and logistics facilities are in limited supply.
When completed, Parque Logístico Callao, a new master-planned Class A logistics park located adjacent to Jorge Chávez International Airport in Lima’s Callao submarket, will consist of four modern, sustainable buildings, totaling nearly 1,044,432 square feet of GLA. The park is designed to meet EDGE certification standards, with select buildings targeting LEED Gold certification, helping ensure cutting-edge infrastructure for diverse logistics operations.
The project is expected to create up to 300 jobs during construction and an estimated 1,000 jobs once the park is fully operational, benefiting both Lima’s economy and the local community.
“This agreement reflects strong demand for premium logistics space in Callao, Peru’s most dynamic logistics submarket,” said Esteban Saldarriaga, CEO of LPA. “Achieving this leasing speed is a testament to our park’s appeal as a strategic hub for businesses seeking to increase operational efficiency.”
Alvaro Chinchayan, LPA’s Country Manager in Peru, added, “This lease at Parque Logístico Callao will strengthen our customer’s capabilities in Lima. Our park continues to attract premium tenants, offering them world-class infrastructure and an exceptional location.”
With its modern facilities, strategic location, and commitment to sustainability, Parque Logístico Callao is positioned as a key enabler of supply chain solutions for leading companies in Peru and the region.
About Logistic Properties of the Americas
Logistic Properties of the Americas is a leading developer, owner, and manager of institutional quality industrial and logistics real estate in high-growth and high-barrier-to-entry markets in Central and South America. LPA’s customers are multinational and regional e-commerce retailers, third-party logistic operators, business-to-business distributors, and retail distribution companies among others. LPA expects its strong customer relationships and insight to enable future growth through the development and acquisition of high-quality, strategically located facilities in its target markets. As of September 30, 2024, LPA’s operating and development portfolio was comprised of 31 logistics facilities in Costa Rica, Peru and Colombia totaling more than 491,000 square meters (or approximately 5.3 million square feet) of gross leasable area. For more information visit https://ir.lpamericas.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20241121380221/en/
Investor Relations Contacts
Camilo Ulloa
Logistic Properties of the Americas
+506 6293 9083
Barbara Cano/Ivan Peill
InspIR Group
barbara@inspirgroup.com / ivan@inspirgroup.com
Source: Logistic Properties of the Americas
FAQ
What is the current occupancy rate of LPA’s Parque Logístico Callao project?
The current occupancy rate is 85.9% of the 418,543 square feet under construction.
How large is the new lease signed at LPA’s Parque Logístico Callao?
The new lease agreement is for 41,226 square feet of gross leasable area.
What is the total planned size of LPA’s Parque Logístico Callao project?
When completed, the project will consist of four buildings totaling 1,044,432 square feet of gross leasable area.
How many jobs will LPA’s Parque Logístico Callao create?
The project is expected to create 300 jobs during construction and approximately 1,000 jobs once fully operational.
