{
  "url": "https://classa.info/cities/panama-city/sublease-market",
  "title": "Panama City Class A sublease market",
  "description": "Sublease availability, pricing, and quality in Panama City's Class A office market.",
  "oneSentenceAnswer": "Sublease availability in Panama City is concentrated in older Class B and lower-tier Class A stock; trophy assets like Banking District (Calle 50) clear quickly even when the broader market shows 26.4% vacancy.",
  "tldr": [
    "Direct vacancy is 26.4%; sublease overhang is concentrated outside the trophy tier.",
    "Sublease space typically prices 15–30% below direct asks for equivalent specification.",
    "Term-take risk and limited TI are the two biggest sublease tradeoffs.",
    "Trophy submarket (Banking District (Calle 50)) has the thinnest sublease overhang."
  ],
  "keyFacts": {
    "city": "Panama City",
    "country": "Panama",
    "region": "Americas",
    "classARentLocal": "$264/sqm/yr · ≈ $24.5 PSF/yr USD",
    "classARentUsd": "$25/sqft/yr",
    "vacancy": "26.4%",
    "typicalLeaseYears": 5,
    "typicalRentFreeMonths": 10,
    "submarkets": 5,
    "primeYieldPct": "7.4%"
  },
  "faqs": [
    {
      "question": "Is sublease space cheap in Panama City?",
      "answer": "Sublease typically trades 15–30% below direct asks for equivalent specification. The total economics depend on remaining term, TI condition, and the assignment/sublet provisions in the prime lease."
    },
    {
      "question": "Can I convert a sublease to a direct lease in Panama City?",
      "answer": "Sometimes. On longer-horizon takes, ask the landlord to write a fresh direct lease at sublease commencement — they get a creditworthy long-term tenant; you get rent-free and TI."
    }
  ],
  "pageType": "city-topic",
  "lastUpdated": "2026-04-15T00:00:00.000Z",
  "license": "CC BY 4.0 with attribution to Class A Atlas (https://classa.info).",
  "citation": "Source: Class A Atlas (https://classa.info/cities/panama-city/sublease-market), updated 2026-04-15T00:00:00.000Z."
}