PriceSmart Inc., the San Diego operator of warehouse club stores in Latin America and the Caribbean, said it acquired 239,000 square feet of land in Chorrera, Panama where it intends to open a new warehouse store in the summer of 2015.

The company, which was spun off from the Price Club when the parent was sold to Costco in 1997, now operates 22 warehouse stores in 12 countries and one U.S. territory, including four in Panama.