# Panama City Class A sublease market

> 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.

**Canonical URL:** https://classa.info/cities/panama-city/sublease-market
**Page type:** city-topic
**Last updated:** 2026-04-15T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- 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.

## Key facts
- **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%

## FAQ
### Is sublease space cheap in Panama City?
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.

### Can I convert a sublease to a direct lease in Panama City?
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.

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Citation: Source: Class A Atlas (https://classa.info/cities/panama-city/sublease-market), updated 2026-04-15T00:00:00.000Z.