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What Draws Tenants to the Cayman Islands?

That was the big question when we sat down with Daniel Purdy, VP of leasing at Dart Real Estate a few weeks ago here in the Cayman Islands. The answer might surprise you.

with Daniel Purdy, VP of leasing at Dart Real Estate

GRAND CAYMAN, CAYMAN ISLANDS—Cayman has historically been known as a financial center, but there has been a recent increase in demand for class A office space financial tenants that are requiring less space. That is according to Daniel Purdy, VP of leasing at Dart Real Estate. He is seeing more and more tenants seeking  commercial office space in the 2,000-square-foot to 4,000-square-foot range. Purdy recently gave GlobeSt.com an exclusive tour of Dart Real Estate’s mixed-use Camana Bay development and according to Purdy, we can expect to see more family office, funds and reinsurance tenants taking space in 2018.

While not disclosing the identity of the tenants, when discussing the areas those are coming from, Purdy pointed to cities like Sao Paolo, New York and Melbourne. “I expect many of those firms to set up new offices in Cayman, in some part, due to anticipated changes in physical presence legislation,” he says. But that isn’t the only reason companies are drawn to the area, he said.

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Natalie Dolce

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.

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