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The new midtown that is being built in the northern corridor of the city of Buenos Aires - La Nacion Propiedades
Source:
www.lanacion.com.ar
July 09, 2024
By Nicholas Bal
Núñez, one of the most sought-after sectors by companies to set up their officesIgnacio Sanchez
The latest developments in the high-end office market in the City of Buenos Aires have to do with the changes that trends have experienced in recent times , promoted especially by the substantial changes in work habits brought about by the pandemic as undisputed protagonists.
Thus, with the focus on decentralization as one of the factors that has had the most pull, the advance of the construction of different class A building projects is giving rise to new corporate nerve centers . And in this scenario, the most relevant is certainly the Libertador Corridor: with the Núñez neighborhood as its epicenter, it has been consolidating for some time now as an attractive and highly sought-after district, adding more and more real estate developments to its “shores . ”
This strip of the northern area of the Federal Capital - by former designation - is being transformed into a new business center, with real-scale developments: "It is the potential midtown of the city, where residential uses, local shops, gastronomic and entertainment offerings, schools, universities and class A and B offices coexist," says Domingo Speranza, CEO of Newmark. In addition, the location of new buildings such as the Libertador Business Center (CEL) and the creation of the Innovation Park encourage the area's momentum.
While the arrival of 113,000 m² of this type of offices throughout the City is expected this year, this Buenos Aires territory becomes an ideal place to solve each of the basic needs within a 15-minute radius. According to the latest Newmark report for the second quarter on the office market, one of the areas that saw the greatest reduction in vacancies were the emerging hubs, especially Palermo and Corredor Libertador, closing at 8.8%. The average asking price for rent there is US$29.10/m². As for inventory, there are 108,494 m², 68,995 m² under construction and 150,000 m² in the pipeline.
Although Catalinas continues to have the largest class A inventory and the best public transportation access in CABA - which, added to other attributes, differentiates it from the rest of the submarkets - " Núñez has become an aspirational place for companies of very diverse nature to move to, not only because of the new projects, but also because of its proximity to the Libertador axis and all its surroundings ," says Speranza. In those parts, the development of the Innovation Hub in the former Tiro Federal reinforces and consolidates a new business center, but "conceived as a mixed-use area on a metropolitan scale ," reinforces the CEO of Newmark. And he asserts that companies of all kinds are sniffing around the area "motivated by the attractiveness of new ventures and the search for young talent."
www.buysellba.com
Source:
El nuevo midtown que se está armando en el corredor norte de la ciudad de Buenos Aires
La zona aledaña al Parque de Innovación, en Núñez, se consolida con desarrollos de viviendas y oficinas por su excelente conectividad en auto, colectivo, tren y hasta en bicicleta
www.lanacion.com.ar
July 09, 2024
By Nicholas Bal
Núñez, one of the most sought-after sectors by companies to set up their officesIgnacio Sanchez
The latest developments in the high-end office market in the City of Buenos Aires have to do with the changes that trends have experienced in recent times , promoted especially by the substantial changes in work habits brought about by the pandemic as undisputed protagonists.
Thus, with the focus on decentralization as one of the factors that has had the most pull, the advance of the construction of different class A building projects is giving rise to new corporate nerve centers . And in this scenario, the most relevant is certainly the Libertador Corridor: with the Núñez neighborhood as its epicenter, it has been consolidating for some time now as an attractive and highly sought-after district, adding more and more real estate developments to its “shores . ”
This strip of the northern area of the Federal Capital - by former designation - is being transformed into a new business center, with real-scale developments: "It is the potential midtown of the city, where residential uses, local shops, gastronomic and entertainment offerings, schools, universities and class A and B offices coexist," says Domingo Speranza, CEO of Newmark. In addition, the location of new buildings such as the Libertador Business Center (CEL) and the creation of the Innovation Park encourage the area's momentum.
While the arrival of 113,000 m² of this type of offices throughout the City is expected this year, this Buenos Aires territory becomes an ideal place to solve each of the basic needs within a 15-minute radius. According to the latest Newmark report for the second quarter on the office market, one of the areas that saw the greatest reduction in vacancies were the emerging hubs, especially Palermo and Corredor Libertador, closing at 8.8%. The average asking price for rent there is US$29.10/m². As for inventory, there are 108,494 m², 68,995 m² under construction and 150,000 m² in the pipeline.
Although Catalinas continues to have the largest class A inventory and the best public transportation access in CABA - which, added to other attributes, differentiates it from the rest of the submarkets - " Núñez has become an aspirational place for companies of very diverse nature to move to, not only because of the new projects, but also because of its proximity to the Libertador axis and all its surroundings ," says Speranza. In those parts, the development of the Innovation Hub in the former Tiro Federal reinforces and consolidates a new business center, but "conceived as a mixed-use area on a metropolitan scale ," reinforces the CEO of Newmark. And he asserts that companies of all kinds are sniffing around the area "motivated by the attractiveness of new ventures and the search for young talent."
www.buysellba.com
