Mercantil Plaza
Office | 307,728 SqFt
Marketing description
Mercantil Plaza, a 15-story office building with adjacent lots with approximately 4.5 acres of land, presents an exceptional
investment opportunity for market repositioning or redevelopment in the heart of Hato Rey’s Golden Mile. As the financial
hub of San Juan, Puerto Rico, the Golden Mile’s strategic location enhances the asset’s appeal. The property’s physical and
zoning flexibility, coupled with its proximity to transformative projects like the Popular Corporate Campus, ORO Hotel &
Residences, and the revitalization of Caño Martín Peña, positions Mercantil Plaza as a highly attractive prospect for
investors seeking opportunistic returns within a tax-efficient framework. The
property is also located inside of the federally designated Puerto Rico Opportunity Zone, offering investors substantial
tax advantages under the Opportunity Zone Program. This designation allows investors to defer, reduce, or eliminate
capital gains taxes on qualified investments, further enhancing the financial appeal of this asset.
Investment highlights
The Golden Mile’s current market dynamics strongly support repositioning Mercantil Plaza into a best in class office
space. A strategic investment in targeted upgrades to common areas and amenities would enable the property to
compete effectively within the submarket, driving significant improvements in long-term cash flow. Repositioning the
asset would deliver a compelling risk-adjusted return, particularly given the building’s reintroduction to the market at a
cost well below replacement value.
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