Where do government and public affairs occupiers lease office space in Panama City?

Most cluster in Obarrio / Marbella. Rent runs ~264 USD/sqft ($25 USD) for trophy and prime stock.

What fit-out spec do government and public affairs occupiers run in Panama City?

Typically high-end at $130–195/sqft.

How much office space per seat should a government and public affairs occupier plan in Panama City?

Plan ~240 sqft per seat blended. A 100-person team typically takes 24,000 sqft.

What NAICS codes describe the government and public affairs vertical?

Representative NAICS 2022 codes: 813, 541820.

What is the talent index in Panama City?

76/100. Use the city profile for full detail.

Government and public affairs occupiers in Panama City typically cluster in Obarrio / Marbella, plan ~240 sqft per seat at high-end fit-out ($130–195/sqft), and pay around 264 USD/sqft ($25 USD) on Class A.

Preferred submarket: Obarrio / Marbella.
Typical fit-out spec: High-end ($130–195/sqft).
Plan ~240 sqft per seat for headcount sizing.
Class A rent context: 264 USD/sqft ($25 USD).
Typical lease: 5 years with 10 months rent-free.
Talent depth in Panama City: 76/100.

Government and public affairs office space in Panama City

Government and public affairs occupiers in Panama City typically cluster in Obarrio / Marbella, plan ~240 sqft per seat at high-end fit-out">fit-out ($130–195/sqft), and pay around 264 USD/sqft ($25 USD) on Class A.

TL;DR

Preferred submarket: Obarrio / Marbella.
Typical fit-out spec: High-end ($130–195/sqft).
Plan ~240 sqft per seat for headcount sizing.
Class A rent context: 264 USD/sqft ($25 USD).
Typical lease: 5 years with 10 months rent-free.
Talent depth in Panama City: 76/100.

Where they cluster

Government and public affairs occupiers in Panama City typically anchor in Obarrio / Marbella. Banking branches, retail HQs, consulting, professional services.

What they pay

Class A rent in Panama City runs 264 USD/sqft ($25 USD) on a 5-year lease with 10 months free. Prime submarkets sit at or modestly above the city index.

Spec and fit-out

Typical government and public affairs fit-out targets high-end specification at $130–195/sqft. Branded reception, full client-facing programming, premium furniture, and specialist AV are standard.

Headcount sizing

Plan around 240 sqft per seat blended (workstation + circulation + amenity). A 100-headcount public office in Panama City typically targets 24,000 sqft of leasable area.

Talent angle

Lobbying and public-affairs teams cluster near legislative anchors; long-duration leases and conservative concession packages are normal. Strong banking, logistics, and trade talent. Universidad de Panamá, USMA, and FAE Business School anchor the regional pipeline. Multilingual (Spanish, English) talent supports international tenancy. Strong cross-border talent flow with Colombia and Venezuela.

Tax and lease context

Headline corporate tax: 25%. Panamanian gross structure (rent inclusive of management fees). USD-denominated. 3-5 year terms standard. Rent-free of 8-12 months on 5-year terms plus USD 100-300/sqm TI typical.

Key facts

city	Panama City
industry	Government and public affairs
naics	813, 541820
preferredSubmarket	Obarrio / Marbella
preferredFitoutSpec	High-end
fitoutBand	$130–195/sqft
sqftPerSeat	240
classARentLocal	264 USD/sqft/yr
classARentUsd	$25/sqft/yr
vacancyPct	26.4%
typicalLeaseYears	5
typicalRentFreeMonths	10
talentIndex	76
corporateTaxPct	25%

Frequently asked questions

Where do government and public affairs occupiers lease office space in Panama City?: Most cluster in Obarrio / Marbella. Rent runs ~264 USD/sqft ($25 USD) for trophy and prime stock.
What fit-out spec do government and public affairs occupiers run in Panama City?: Typically high-end at $130–195/sqft.
How much office space per seat should a government and public affairs occupier plan in Panama City?: Plan ~240 sqft per seat blended. A 100-person team typically takes 24,000 sqft.
What NAICS codes describe the government and public affairs vertical?: Representative NAICS 2022 codes: 813, 541820.
What is the talent index in Panama City?: 76/100. Use the city profile for full detail.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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