The Department of Economic Development and Commerce (DEDC) has a large inventory of industrial properties in Puerto Rico, with more than 1,500 spaces strategically distributed throughout the Island. The DEDC property portfolio includes industrial warehouses, lots and raw land. The Real Estate Office of the Puerto Rico Industrial Company (PRIDCO) has the responsibility of enhancing its catalog of properties according to the needs of the industrial sectors. PRIDCO’s main interest is to retain ownership of its real estate, with the sale cases being evaluated strategically and for the benefit of the public good.
Real estate is a vital part of its capital assets and its operation, managing this inventory in the best interest of the public heritage. The basic services of the real estate division are to provide industrial rental space for companies and investors in order to promote, improve and develop the island's economy.
Our buildings can accommodate a variety of uses, from light manufacturing, research and development, distribution centers, warehouses, or even light industrial activities. Our properties generally feature:
- Between 2,000 to more than 100,000 square feet
- Loading docks with level doors
- Minimum ceiling height of 12 feet with a clear span
- Minimum 120/208 kw with three phase power capacity for 50kva
- Ready for plumbing with a minimum water diameter ranging from 1½” to 2”
- Strategically located near highways, ports and airports
Through efficient planning and zoning, the property catalog provides an ideal place to start or expand your business. We are ready to help your company by granting incentives!
The Real Estate Office will assign you an agent to guide and assist you during the rental or purchase process. These are some of the services offered:
- Property Profile and Specifics
- Estimates and Evaluations Preparation
- Contract Negotiation and Granting
Renting a property
Once orientation has been received and you have toured the identified property that meets your business needs, within a five (5) business days period you must complete the rental application and submit the Administrative Fee payment, amounting to $150.00, compulsory, non-refundable or applicable to payments or deposits. This request will be accompanied by:
- Corporate Resolution
- Good Standing Certificate
- Insurance (If Applicable)
- Down Payment
- Social Security Number (SSN)
- Contact Information
- Other Requirements May Apply
Within a period of five (5) business days, the Real Estate Office will confirm or decline the reservation and notify the decision. Within the next five (5) business days, you must proceed with the payment of the deposit, equivalent to one month's rent and fill out the facilities questionnaire. The reservation begins the day after the deposit is received and will be valid for thirty (30) days. Within these thirty days, PRIDCO must complete the evaluations and documentation required to grant the lease.
Once the contract is drawn up, it will be sent to the person interested, who will have ten (10) business days to sign it, and to comply with the insurance and deposit clauses. If the stipulated term is not met, the transaction will be terminated.
More details of this process can be found in the applicable bylaws. Here are the links for you to access and download:
- Reg. 8908 / MO-ODE-001 – Regulation of Reservations for Leasing for Leasing of Real Property of the Puerto Rico Industrial Company (PRIDCO)
- Reg. 6860 / MO-BRI-048 – Regulations for the Leasing of Spaces or Sections of Industrial Buildings to Entities Employing Persons with Disabilities
- 006 – Procedure for the Granting of the Lease Contract
You can reach the Real Estate Strategic Development team at (787) 758-4747, extensions 3170, 3155 and 3158, or by writing an email to email@example.com.
To buy a property
In order to evaluate an application for the acquisition of an IFC property, it is necessary to submit a letter of intent that includes the information of the IFC to the applicant and the proposed use for the property. In addition, it should include the following:
- Business Plan, Including Investment Projection and Jobs to Be Generated
- Financial Reports
- Description of the Commercial Impact in The Area Where the Company Will Be Located (Includes the Creation of Employees)
- Certification Under Oath, that All Proposed Information Is Correct
- Other Requirements May Apply
Once the information is received, it will be referred to the Real Estate sales committee for evaluation and recommendation, of whether or not the proposed transition proceeds.
If favorably recommended, a deposit of $10,000.00 will be requested and the property appraisal process will begin.
The PRIDCO Board of Directors may rescind the sale proposal for any reason.
More details of this process can be found in the applicable bylaws. Access to get a copy.
- Reg. 7474 / MO-ODE-002 – Regulation for the Disposition of Real Property
Contact the property sales team at (787) 758-4747, extensions 3170 and 3173.