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The industrial real estate market closed 2023 with a positive balance in rentals and purchases and sales: what are the expectations for 2024 - Infobae
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El mercado inmobiliario industrial cerró 2023 con balance positivo en alquileres y compra-venta: cuáles son las expectativas para 2024
El año pasado se vendieron más de 100 naves industriales y se alquilaron más de 500 inmuebles en distintos puntos del Gran Buenos Aires. Muchas empresas compraron lotes con el fin de construir sus galpones este año. En alquileres, lo ofrecido se agotó y esperan el ingreso de “nuevo stock”
www.infobae.com
January 15, 2024
Last year, more than 100 industrial warehouses were sold and more than 500 properties were rented in different parts of Greater Buenos Aires. Many companies bought lots in order to build their warehouses this year. In rentals, what was offered was sold out and they are waiting for the entry of “new stock”
By José Luis Cieri
The supply of warehouses for storage and distribution is practically nil at present due to the large number of operations registered in Greater Buenos Aires.
After several years characterized mainly by rental transactions in the industrial and logistics market, the balance of 2023 presents a positive trend in the field of purchase and sale. More than 100 sales of factory buildings were made in various locations in Greater Buenos Aires (GBA), including some in the province of Buenos Aires.
It had been more than 8 years since something similar had happened. Several companies with surpluses chose to invest in the acquisition of industrial establishments (sale prices exceed USD 1,000 per square meter) to avoid high rental costs.
Specialists maintain that although there were elections, inflation and a difficult situation, companies also sought to access the purchase of lots in order to build their warehouses from mid-2024 onwards.
“The balance for 2023 is positive with the sale of around 150,000 m2 of land and vigorous construction in industrial parks. The construction of warehouses totaled approximately 100,000 m2 and several companies opted for the flexibility of adapting the project to their needs,” Emiliano Valli , from Stark Desarrollos, told Infobae
Work progresses in the Reconquista Industrial Park on Autopista del Oeste and Camino del Buen Ayre
For rent, the warehouses were fully occupied. Valli expanded: “We plan to adjust the rental values in official dollars, estimating between USD 8 and 9 per m2, and the Hive project, with warehouses of 100 to 300 m2, will be rented at a value close to USD 10 per m2.”
In the three GBA corridors, more than 500 properties were rented during the year.
Santiago Isern, senior broker of the industrial area of Cushman & Wakefield, highlighted that all the m2 available on the market were rented, “currently leaving a practically non-existent supply. "We will have to wait for new stock to enter the market to satisfy demand in 2024."
Which properties were most successful
Today, companies mainly look for industrial warehouses with the latest innovations, such as interior height (more than 9 meters), location on high-traffic arteries, sectorized fire protection systems, self-leveling loading docks, changing rooms, dining areas for staff, security 24 hours and camera systems, among other key aspects.Alejandro Simonetti, manager of the industrial and logistics real estate division of Toribio Achával, said that “security is a priority in the search for this type of property, both for the permanence and for the access and exit of employees, given the diversity of schedules.”
Sheds over 9 meters high and ample availability of maneuvering areas are highly sought after due to demand.
The most requested surfaces range from 4,500 to 7,000 m2, and those from 9,000 to 12,000 m2 are in lower demand.
Rental operations predominated because they involve a smaller investment than a purchase, allowing companies to more easily adjust their size as necessary. Guillermo Guassardi , president of Rubica Inmobiliaria, pointed out that “closed logistics and industrial complexes, with surveillance and shared services, were the most in demand.”
Prices
Current rental values, with an official dollar of $840, suffered a slight decrease due to the increase in contracts made in the last month. Rate examples: Northern GBA zone, USDA 5.50 to USD 7 per m2 USD; west from USD 4.50 to USD 6, and south from USD 3.50 to USD 5.50 per m2.Simonetti added: “In Zárate, in the north of Buenos Aires, a new logistics complex is being developed with 50,000 m2 of warehouses available for rent, with full-core construction characteristics, thermal insulation, large maneuvering areas and a free interior height of 10.5 meters. . The modules can be rented from 1,000 m2 at a value of USD 4.20 per m2.
Regarding the values of land for sale, in the Tigre and Pilar Industrial Park Triangle) they range between USD 120 and USD 170 per m2, in the west from USD 45 to USD 100, and in the south from USD 40 to USD 75 per m2. m2. Areas such as Monte Grande and Esteban Echeverría, highly in demand in the logistics field, show an increase in land values due to growing demand.
“Major investments and developments are being carried out in key logistics points, such as the industrial centers of Au del Oeste and Camino del Buen Ayre (80 hectares), Autopista La Plata Bs As, Km 26 (90 hectares), Berazategui and the Camino of the Zárate Industrial Park (25 hectares, on Camino de Cintura), and in Monte Grande on Avenida Fair,” added Simonetti.
What items
The purchase, sale and rental operations were mainly driven by companies in the automotive, mass consumption and technology sectors.
In different parts of the GBA and the province of Buenos Aires there is manufacturing and logistics expansion
In the area of rentals, logistics and laboratories led the transactions. “Despite continued activity in the Last Mile sector, finding properties that meet your requirements within urban areas is challenging,” Isern said.
Companies dedicated to merchandising and furniture factories also played a significant role in the market dynamics.
Guassardi highlighted the active participation of several SMEs, which generated movements with high demand and limited supply, especially in rentals. Among the notable operations, I highlight the rental of a 7,000 m2 industrial property on the Panamericana at the beginning of the year, carried out by a company that sells construction materials, for a value of USD 35,000 per month.
Coming
The change of government and the elimination of the Import System of the Argentine Republic (SIRA) and the current import license and its replacement by the new Statistical Import System (SEDI), which will not require the need to process a license for the shipments destined for consumption notified by the Ministry of Economy, will cause a strong import into the country.
New modules for storage and distribution will be built starting next year
The change of Government and the elimination of the Import System of the Argentine Republic (SIRA), together with the import license, now replaced by the new Statistical Import System (SEDI) notified by the Ministry of Economy, will result in a significant import to the country, since it will not be necessary to process a license for shipments intended for consumption.
“An increase in demand for storage spaces is expected, driving the growth of industrial parks. Competition between the national industry and imports will be crucial, and a reactivation of the market is expected from April 2024, benefiting consumers and entrepreneurs. The availability of industrial warehouses and industrial parks will be essential for the efficiency and safety of these sectors,” Valli concluded.
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