Viejo San Juan: A Premier Destination for Commercial Real Estate

Introduction

Viejo San Juan, the historic district of Puerto Rico’s capital, San Juan, offers a unique blend of rich cultural heritage and vibrant commercial real estate opportunities. Known for its cobblestone streets and colonial architecture, the city is not just a tourist haven but a growing hub for businesses seeking a strategic location in the Caribbean. Despite its compact size, Viejo San Juan's economy is bolstered by tourism, government services, and a burgeoning creative sector, making it a coveted spot for commercial real estate (CRE) investments.

Economic and Industry Overview

Viejo San Juan's economy thrives on its diverse industry clusters, including:

• Tourism and Hospitality: A major driver of retail and hospitality real estate.
• Government Services: With numerous governmental offices, demand for office space remains steady.
• Creative Industries: Increasingly attracting tech startups and creative firms needing flexible office spaces.

The Puerto Rico Department of Economic Development and Commerce actively supports initiatives to enhance the economic landscape, ensuring a continually robust demand for diverse CRE asset classes.

Strategic Location and Transportation Infrastructure

Viejo San Juan is strategically positioned with access to major transportation networks:

• Luis Muñoz Marín International Airport: Approximately 20 minutes away, facilitating global connectivity.
• San Juan Port: One of the busiest ports in the Caribbean, enhancing logistics and trade.
• Highways: Connected through PR-1 and PR-26, providing efficient access to the greater San Juan area.

These logistical advantages make it an ideal location for businesses requiring efficient distribution channels and access to a skilled labor pool. For more details, visit the Puerto Rico Department of Transportation and Public Works.

Commercial Real Estate Inventory & Zoning

Key submarkets within Viejo San Juan include:

• Historic Commercial District: Predominantly retail and hospitality-focused.
• Office Spaces: Spread across restored colonial buildings, offering unique work environments.
• Mixed-Use Developments: Emerging trends in adaptive reuse projects.

The city has embraced zoning changes and incentives to attract developers, supported by resources such as the City of San Juan Zoning Maps.

Major Employers and Institutions

Significant employers and institutions driving CRE demand include:

• Federal and Local Government Offices: Major tenants of office spaces.
• University of Puerto Rico: Contributing to the influx of research and academic activities.
• Banco Popular: With headquarters nearby, influencing financial sector growth.

For further insights, visit the San Juan Economic Development Office.

Notable Commercial Developments & Projects

Viejo San Juan is witnessing numerous significant developments:

• Mixed-Use Projects: Integrating residential, commercial, and retail spaces.
• Public-Private Partnerships: Leveraging government incentives to boost CRE growth.
• Opportunity Zones: Offering tax incentives for developers and investors.

Explore more through the San Juan Planning Department.

Building Permits, Planning, and Development Tools

For development-related resources, access the following:

• San Juan Building and Safety Department
• Permitting Portals
• Parcel Map Viewer / GIS
• Planning Commission
• Development Code

Market Data & Economic Reports

Gain insights from public data sources such as:

• Census.gov
• City’s Open Data Portal
• Economic impact reports available through Puerto Rico's Economic Development Website.

Brevitas uses AI-powered aggregation from these public data sources and internal insights. Explore our Brevitas-powered dashboards for in-depth analytics.

Why Use Brevitas for Viejo San Juan CRE?

Brevitas offers unparalleled features for CRE professionals:

• AI-Driven Discovery: Find properties that meet your criteria with ease.
• Real-Time Market Alerts: Stay ahead with instant notifications.
• Smart Property Pages and Dealroom Collaboration: Streamline your transactions and collaborations.
• Exclusive Listings and Premium Exposure: Gain an edge in the competitive market.

Our platform provides tools like auto-generated listing pages, email and landing page tools, and seamless integration with brokers and developers. Explore the possibilities with Brevitas in Viejo San Juan.