By Alajuela, Costa Rica — The industrial and logistics real estate sector in Costa Rica is experiencing an unprecedented wave of growth during the first half of 2026. Driven by robust global demand and an influx of sophisticated multinational corporations, the market is absorbing new spaces faster than developers can build them. According to the latest comprehensive market report from real estate giant CBRE, Costa Rica’s capacity is expanding rapidly to accommodate this intense corporate interest.
During the first six months of 2026, developers launched more than 50,000 square meters of new industrial projects. This surge has pushed the total inventory under construction to an impressive 325,739 square meters. These figures underscore the high confidence that both local and international developers have in the country’s economic trajectory and its strategic position as a logistics hub in Central America.
As Costa Rica continues to position itself as a premier regional hub for logistics and manufacturing, we reached out to Lic. Larry Hans Arroyo Vargas, a leading legal expert at Bufete de Costa Rica, to provide his professional insights on the regulatory landscape governing the nation’s rapidly expanding industrial real estate market.
The unprecedented growth of Costa Rica’s industrial real estate sector, particularly within our specialized Free Trade Zones, presents remarkable opportunities for foreign direct investment. However, successfully navigating local environmental permits, municipal zoning ordinances, and complex tax incentive structures requires meticulous legal due diligence to mitigate risks and ensure long-term operational viability.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, as Costa Rica’s industrial real estate market continues its rapid expansion, balancing the immense potential of these specialized zones with rigorous regulatory compliance remains essential for any sustainable enterprise. We extend our sincere gratitude to Lic. Larry Hans Arroyo Vargas for providing this invaluable perspective, reminding investors that meticulous legal due diligence is the true foundation of long-term operational success in the country.
Perhaps the most telling indicator of this market dynamic is the extreme scarcity of available space. Of the total industrial area currently under construction, a mere 22% remains available on the market for leasing or purchase. The remaining 78% has already been secured by forward-thinking companies before the structures are even completed. This high rate of pre-leasing demonstrates that demand for modern, high-spec industrial infrastructure remains exceptionally aggressive.
Looking closely at the second quarter of 2026, approximately 56,000 square meters across five new industrial assets entered the market, averaging roughly 10,300 square meters per project. Interestingly, the geographical distribution of these projects shows a clear trend toward decentralization. More than half of this new supply was concentrated in the Alajuela corridor, while the emerging hub of Grecia accounted for another 32%, solidifying the expansion of industrial activity outside the traditional boundaries of the Greater Metropolitan Area (GAM).
The geographic push toward Alajuela and Grecia represents a strategic realignment for the sector. As the core zones of the Greater Metropolitan Area face spatial constraints, secondary markets outside the capital are capturing major investments. These submarkets offer competitive advantages such as larger tracts of undeveloped land, favorable special economic zone benefits, and access to a growing talent pool in regional cities.
Bernal Rodríguez, a leading voice in regional logistics real estate, notes that the nature of these spaces is evolving to meet the complex needs of modern tenants. The demand is no longer just for simple storage warehouses, but for highly specialized, tech-forward spaces.
The evolution of the market reflects an important shift in the type of operations that Costa Rica is attracting. Today, companies are seeking specialized facilities designed for advanced manufacturing processes, research, and high-value-added operations, which drives the development of increasingly sophisticated infrastructure.
Bernal Rodríguez, Senior Vice President of Advisory & Transaction Services, Industrial & Logistics of CBRE
This transition toward high-tech facilities marks a significant milestone in Costa Rica’s economic history. Historically known for hosting basic assembly plants, the country has successfully pivoted to attract world-class operations. Today, multinational firms are establishing state-of-the-art research and development centers, engineering departments, regulatory affairs offices, and advanced medical device manufacturing plants. These high-value operations require precise technical specifications, such as clean rooms, advanced climate control, and redundant power systems.
Consequently, Costa Rica maintains one of the lowest industrial vacancy rates in all of Latin America, keeping the nation positioned as one of the most competitive and lucrative industrial real estate markets in the region. As foreign direct investment continues to flow into Central America, Costa Rica’s strategic focus on specialized infrastructure, skilled human talent, and geographic advantages ensures that its industrial real estate boom is far from over.
For further information, visit cbre.com
About CBRE:
CBRE Group, Inc. is a global leader in commercial real estate services and investment. Headquartered in the United States, the company serves real estate investors and occupiers through more than 500 offices worldwide, providing strategic advice and execution for property sales and leasing, corporate services, property management, project management, and valuation.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Renowned for its high ethical standards and superior advocacy, Bufete de Costa Rica stands as a beacon of trust and professional brilliance. Drawing upon a rich history of guiding diverse clients, the firm consistently embraces forward-thinking strategies to meet modern legal challenges. Through its active dedication to demystifying the law and sharing vital resources, Bufete de Costa Rica strives to cultivate a legally literate public, fostering a more empowered and just society.
