The logistics real estate market is experiencing a peculiar situation, with a vacancy rate below 5%, reflecting high demand for premium spaces and a limited supply. During 2024, net absorption reached 42,850 m2, matching the total amount built the previous year, highlighting the need to continue improving the quality of the available stock in the market.
According to the Cushman & Wakefield report for the second half of 2024, the submarkets of San Eduardo Triangle and Southern Zone were the most notable in performance. Expectations for 2025 focus on the growth of strategic areas such as Route 9 and last-mile areas, fundamental for the sector's expansion. Lucas Desalvo, senior broker of the Industrial area at Cushman & Wakefield, stated that the market is in constant motion and faces an accumulated investment deficit, as new developments fail to meet existing demand.
Despite the low vacancy, which closed at 4.24% at the end of the second half of 2024, rental prices registered a slight decrease, settling at $7.31 per square meter. For the year 2025, with an ideal projected vacancy between 7% and 9%, a significant change in the logistics market is expected.
"This trend could be attributed to the weakness of tenants' operating margins, who are seeking to renegotiate costs in a challenging economic environment," Desalvo mentioned. The increase in construction costs and financing difficulties are also generating pressure on the creation of new spaces.
The growth of areas such as the first ring of the Southern Zone and the Route 9 submarket is expected to provide innovative solutions in infrastructure and new opportunities for last-mile projects. The stabilization of costs, economic recovery, and investment policies will be crucial to ensuring the sustained development that the market needs.
The latest report from Colliers Argentina revealed a 4% increase in inventory in the premium logistics market during the second half of 2024, raising the vacancy rate to 5.96%. The company highlighted that the logistics and industrial market in Argentina continued to expand, with an increase in premium logistics center inventory and a slight rise in rental values.
Colliers Argentina projects that in 2025, the trend of growth in the logistics and industrial sector will continue, with more available spaces and new developments in several key areas of Buenos Aires.
