Oriental granted a loan of more than $ 2.8 million for the
purchase of a commercial property that will be the new facilities of
Evinmotors. The loan was under the 504 program of the Small Business
Administration together with Marketing Small Business Finance Corp.
Evinmotors is a company dedicated to the distribution and retail sale of recreational products, outboard motors, and related accessories. Among its exclusive brands, it has the distribution of Sea-Doo brands in jet ski; Can-am for four track and motorboats; Evinrude the oldest brand of outboard motors; KTM and Husqvarna motorcycles. Meanwhile, with this new project financed by Oriental, they will have the return of the exclusive Indian Motorcycles brand.
The company has over 20 employees and will be located in San
“At Oriental, we offer our clients solutions to meet their financial needs and contribute to the economic development of their businesses. We seek to be a strategic partner in the decision making of our clients, provide them with the tools they need, give them the best service and trust in us, “said Osvaldo Aguayo, vice president of Oriental Business Banking.
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In Cushman & Wakefield | Property Concepts Commercial we are available to answer all your questions regarding the opportunity zone properties that we have available. Make sure you visit our “properties” page to find more about the different commercial spaces that we offer. Not a fan of writing an email? give us a call at 787-977-7373 we are here to help you find the ideal location for your business.
So you’re considering making a business move to Puerto Rico but still on the fence? Moving to Puerto Rico is undoubtedly a decision that requires much thought. There’s more to doing business in Puerto Rico than Act 20 and Act 22 tax incentives. Here are some top benefits of living and doing business in Puerto Rico:
1. Keep your Stars and Stripes – It’s a U.S. territory
Puerto Rico being full-fledged U.S. soil, does bring some unique advantages. For example:
U.S. citizens don’t need a passport to travel to Puerto Rico. On the flip side, Puerto Rican coworkers or business partners are U.S. citizens. They can move freely from their island to the U.S. mainland without red-tape.
Obtaining work-visas for yourself and your staff can often complicated, time-consuming, and costly when discussing moving yourself or your business overseas. Not the case for P.R. U.S. citizens does not need work permits to work in Puerto Rico.
The U.S. dollar is the legal tender, and so there are no exchange controls. Capital can be moved freely in and out of the country. With an economy based on the U.S. dollar, Puerto Rico offers monetary stability.
Access to benefits. Some of them are Social Security and Medicare.
U.S. banking regulations apply, as well as a similar legal framework, including intellectual property protection.
2. Significant Tax Benefits
Hold on to your seats, because this is where the real allure starts.
A few years ago, the government of Puerto Rico introduced Act 20, Act 22, and Act 273 (the Export Services Act, the Individual Investors Act, and the International Financial Regulatory Act, respectively).
All offer attractive tax incentives aiming to lure investors, businesses, and high-earning individuals to move to the island to do business.
The fixed corporate income tax rate and individual tax rates set under these new policies allow for significantly lower prices than in mainland USA. For example, service industry businesses such as financial services, consulting services, and call centers incur the startling flat corporate tax rate of 4%.
The tax you pay as a business or resident in Puerto Rico is in many instances significantly lower than any other U.S. jurisdiction
What makes business in Puerto Rico different than other so-called “tax havens” such as the Cayman Islands is the fact that it is still considered U.S. soil.
Move to Puerto Rico, keep your stars and your stripes! And a good portion of your money too, as you’d be privy to only the lower taxes as charged by the Puerto Rican government.
If you are considering relocating for business, chances are you considered various regions of the world. While there is much good to be said about Asia and Europe, doing business in the Caribbean does have a competitive edge geographically.
Daily non-stop flights leave San Juan airport every hour. You can be in Miami in 2.5 hours, New York in 4 hours, and Houston in 5 hours.
You don’t need a passport to fly, and you don’t need to go through customs.
The price tags of flights are equally comparable to bi-coastal domestic flights. Similarly, cargo can arrive from U.S. ports within five business days.
Located between North America and South America, Puerto Rico is a fantastic location. In other words, a link between the United States and the Latin American markets.
No hablas espanol? No problem!
Puerto Rico’s 3.8 million population is educated, friendly, and mostly bilingual, making P.R. a Caribbean market ideally suited for your business needs.
4: It’s like the U.S., but it’s not
Puerto Rico’s close ties to the U.S. give it the benefits of infrastructure many other islands – and countries – don’t have.
Significant infrastructure such as highways, schools, hospitals, public services, and financial services make Puerto Rico far more attractive than other Caribbean alternatives.
High-speed internet and fiber optic cable services.
The largest convention center in the Caribbean.
A World Leader in Engineering and Life Science degrees with large numbers of tech-trained graduates.
Lower salaries for highly trained employees.
State-of-the-art medical facilities with medical and dental costs 40% to 60% lower than in the U.S. 69 of which are joint commission accredited and follow U.S. federal regulations.
On top of all the benefits of doing business in Puerto Rico: You will be relocating to a Caribbean paradise.
With year-round temperatures steadily between 74F and 81F, you will soon fall in love with the Caribbean sun and sea-breezes.
Luxury real estate deals can be found all over the island, and you have a lot to choose from.
From country club living in Dorado to city life in Condado’s beachfront condominiums to family-friendly resort living in Palmas Del Mar, Puerto Rico has something for everyone.
Puerto Rico’s beaches are consistently ranked in the top 10 worldwide. Plus, you are within sailing distance to coveted vacation spots like Vieques, Culebra, and the U.S. and British Virgin Islands.
Have you ever conducted a business meeting with sand between your toes? Or perhaps you prefer to talk business while teeing off at one of the world-class golf courses. Indeed, the Caribbean lifestyle is well known for having its nice perks, and Puerto Rico is no different!
The above benefits are all excellent reasons to consider moving your business, and your life, to Puerto Rico. The environment is open and business-friendly, and the various special incentive laws can provide a range of additional benefits to almost any corporation, in any area of business.
Real-estate in Puerto Rico is fantastic on the Island, with many options to choose from. An amazing Class A Building is City View Plaza. Located in Guaynabo P.R. is a great place to establish your office. For more information, you can call us at 787-977-7373 or email at email@example.com
Entertainment and dining venue owner Dave & Buster’s Entertainment Inc. will open its second location in Puerto Rico, at the Plaza Las Américas shopping center in Hato Rey, during the third quarter of this year, this media outlet confirmed.
The planned 39,000 square-foot complex will be located on the mall’s third level, spanning from the space left vacant by Tierra del Fuego to the Passports and Services office, facing Olive Garden and La Placita de Plaza, the mall’s Spokeswoman Lorraine Vissepó said.
The new entertainment option will open a little more than two years after the first Dave & Buster’s made its debut in January 2018 in Puerto Rico and the Caribbean, with a 40,000 square-foot location in Plaza del Sol in Bayamón.
Guaynabo-based Carrera Arquitectos will apparently be in charge of designing the new Dave & Buster’s. The firm has also been commissioned to develop the new wing coming to San Patricio Plaza, replacing the empty shell left by Kmart.
Founded in 1982 and headquartered in Dallas, Texas, Dave & Buster’s Entertainment Inc., has locations in 39 states, Puerto Rico, and Canada.
Conserving energy has many business benefits that can make your office run more smoothly and bring in profits. If you’re considering implementing energy-efficient practices in your workplace, you might be looking for some specific reasons to make the switch. To give you confidence and change your business for the better, let’s look at five benefits of an energy-efficient office.
1. Healthier Workplace Environment
A sustainable workplace offers many benefits for employees, from improving their health to their happiness. Stress and environmental factors both pose health risks in the workplace, but an improved physical setting can change that. With an energy-efficient office, you might see fewer sick days and turnovers, along with an increase in satisfaction, motivation, and productivity.
Air quality and temperature also affect the well-being of office workers. Overuse of air conditioning can release toxins and other substances that can have harmful health results in the air. Monitoring the thermal conditions and dampness can make employees feel more at ease, reduce stress levels and lower the spread of illness.
2. Lower Operational Costs
Major businesses and large companies can more readily accept the costs of adopting energy-efficient practices, but in the long run, all businesses can save on costs by choosing sustainable measures. Retrofitting seems expensive while turning a facility green, but once these new features are added, building owners can see a difference in their operating costs.
Less invasive eco-friendly changes are even easier and more cost-effective. Other indirect costs from suppliers and logistics can be reduced by identifying and reducing waste — a pillar of energy efficiency.
3. Reduced Energy Consumption
Business costs such as energy expenses can be cut down with efficient procedures, such as upgrading to LED lights or enhancing ventilation.
Businesses are beginning to recognize the extent and impact of their energy use. A study showed 60 percent of executives expected their energy expenses to rise in the next year. To help keep business booming, they are adopting new practices and cutting back on energy use.
The efforts of using green buildings can produce financial benefits, as owners have seen an average ROI improvement of 19.2 percent for existing building projects. Energy consumption like carbon emissions is dropping, saving businesses substantial money. When you switch to energy efficiency, your sustainable efforts can provide profitable results.
4. Better Public Image
Making environmentally friendly advances gives your company a better reputation in the community and attracts customers or clients. Your brand can appear more responsible and capable to the public once you introduce energy-conserving features. Aiming your campaigns or your company’s values towards eco-friendly principles can communicate care that goes beyond your office’s walls.
5. Higher Market Value for Your Building
Green buildings are becoming more attractive in the market. When you make your building efficient or Energy Star certified, the value goes up. The market demand encourages many building owners to invest in energy-efficient developments.
Occupancy rates climb when businesses give attention to their environment and incorporate sustainable actions. If you decide to sell your building or move locations, a green building can drive your facility’s price up. New commercial real estate is increasingly created with energy considerations in mind.
Energy Efficient Strategies
The following solutions can cut costs and energy use for your company if you’re aiming to pursue green practices.
Switch from desktops to laptops, because they take significantly less energy to power.
Add motion sensors for lights so that no one forgets to turn them off at the end of the day.
Check and replace HVAC filters more often.
Upgrade old office equipment to energy-efficient models.
Use LED lights and signs.
Adjust the thermostat based on the season.
Incorporate Energy-Efficient Habits Into Your Office
While you benefit your workplace by adding sustainable solutions, you’re also helping the environment as a whole. Employees and overall profits can both show positive results when you strive for energy efficiency.
An example of an efficient energy building is City View Plaza in Guaynabo PR. For more information CLICK HERE.
Office buildings are generally classified into one of three categories: Class A, Class B, or Class C. Standards vary by market, and each category is defined in relation to its counterparts. Building classification allows a user to differentiate buildings and rationalize market data — that said, classification is an art, not a science. While a definitive formula for each class does not exist, the general characteristics are as follows:
These buildings represent the newest and highest quality buildings in their market. They are generally the best looking buildings with the best construction and possess high-quality building infrastructure. Class A buildings also are well located, have good access, and are professionally managed. As a result of this, they attract the highest quality tenants and also command the highest rents.
An example of a fantastic Class A Building is City View Plaza. Located in Guaynabo, Puerto Rico is a great place for your office.
This is the next notch down. Class B buildings are generally a little older but still have good quality management and tenants. Oftentimes, value-added investors target these buildings as investments since well-located Class B buildings can be returned to their Class A glory through renovations such as facade and common area improvements. Class B buildings should generally not be functionally obsolete and should be well maintained.
The lowest classification of office building and space is Class C. These are older buildings and are located in less desirable areas and are often in need of extensive renovation. Architecturally, these buildings are the least desirable, and building infrastructure and technology is outdated. As a result, Class C buildings have the lowest rental rates, take the longest time to lease, and are often targeted as re-development opportunities.
The above is just a general guideline of building classifications. No formal standard exists for classifying a building. Buildings must be viewed in the context of their sub-market; i.e., a Class A building in one neighborhood may not be a Class A building in another.
Following Hurricane Maria’s impact on the island, more office occupiers are seeking reliable workspaces within class-A buildings that provide a professional environment with uninterrupted services. In addition to full back-up power and redundancy, as well as the benefits afforded to well-maintained equipment, tenants also look for safe environments for their customers and employees, with such ample security measures as guards, surveillance cameras and secure parking. City View Plaza in Guaynabo has consistently exceeded tenants’ expectations for these requirements.
City View Plaza is a class-A office building and the perfect place for business. It is composed of two separate and connected office towers with the largest parking deck in the San Juan metro area, offering the highest parking ratio for any other building in the capital city. Furthermore, City View Plaza offers the only fenced-in corporate campus, thereby creating a uniquely safe office environment that no other complex can offer.
City View Plaza is at the intersection of PR-165 and PR-22 (De Diego Expressway), with easy access to San Juan, Bayamón, Carolina and its international airport.
“We found no other office building in San Juan with the access, ample parking, fabulous views and beautifully kept tropical gardens,” a new tenant explained. “Onsite amenities, such as the bank, beauty salon and wine shop, is frequently visited by our employees, and City View Plaza’s dedicated conference rooms for tenants are what made us decide to choose this building.”
City View Plaza is also welcoming La Hacienda and Café San Pedro as its newest tenants, thereby providing one of San Juan’s best fine-food purveyors to City View Plaza tenants and visitors. Global as well as Puerto Rico’s corporate leaders in their industry call City View Plaza their Puerto Rico headquarters.
To learn more about City View Plaza, make an appointment by calling Cushman & Wakefield | Property Concepts Commercial at 787-977-7373. Puerto Rico’s premier commercial real estate firm will provide a fantastic experience helping your company while also searching for your perfect place from which to do business.
Take a look at a few of our properties who are consider inside the opportunity zone area. If you have any question regarding this properties, you can visit our “properties” page and you will find more information about them or you can give us a call (787) 977-7373 and we will gladly help you.
As the largest retail real estate event on the east coast, ICSC New York Deal Making had nearly 10,000 retail professionals from all corners of the US and even some from across the pond, flocking to the Big Apple for the week of December 3rd. This year’s keynote address featured Doug Stephens, founder of Retail Prophet and 20-year veteran of the retail industry.
Also new to their program was “Retail in Focus,” featuring many emerging brands that started out as digitally-native and are now in the various stages of opening strategic physical locations in line with the brands they’ve cultivated on the internet, and where their audience is located.
Our Fernando Toro had the opportunity to sit down and discuss the state of retail in Puerto Rico. Please, see video.
C&W|PCC continues to be a part in the development of the commercial district of Puerta de Tierra area, and with the year end sale of 266 Ponce de León commercial building will bring new opportunity of businesses to the already established tenants, and will bring additional support to the growth of our local economy. If you are looking for a commercial property like this, visit here.