Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report| November 2014
Category A Market Trends B.A. City
2012
Northern Area
B.A. City
2013
Northern Area
B.A. City
2014
Northern Area
VACANCY DEMAND VALUES In the above charts, we compare the current month with the previous December.
Submarkets
Stock (m2)
Vacancy
Average Rental Value (USD/m2)
101.646
5%
28
9 DE JULIO
64.162
40%
24
MICROCENTRO
49.000
3%
24
PLAZA ROMA
136.612
10%
26
PUERTO MADERO
295.940
11%
25
PLAZA SAN MARTIN
19.200
0%
30
BELGRANO - NUĂ‘EZ
49.799
1%
25
LIBERTADOR
96.129
11%
27
PANAMERICANA
222.025
15%
24
SUBMARKETS
CATALINAS Panamericana 75%
Buenos Aires City
Northern Area
Office Real Estate Division | Downtown: 4114-1000 | Northern Area: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report|November 2014
Overseas Rental Costs, per city.(US$/m2)
Rio de Janeiro
68
San Pablo
65
Bogot谩
32
Santiago de Chile
29 Panamericana 75%
Mexico DF
27
Panama
26
Lima
22
Monterrey
20
Guadalajara
18
Divisi贸n Oficinas | Centro: 4114-1000 | Zona Norte: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report|November 2014
Stock and Vacancy
CAP. FED.
Vacancy| 70.517m²
Stock | 716.359 m²
ZONA NORTE
Stock - Vacancy A+ (own sqm)
Vacancy | 40.697m²
Stock | 323.271 m²
Composition of Vacancy Vacancy A+ Distribution (Northern Area) Catalinas | 5,2% Eje 9 de Julio | 36,4%
Belgrano, Nuñez, Saavedra | 0,8%
Vacancy A+ Distribution (Buenos Aires City) Microcentro | 3,1%
Dardo Rocha | 0%
Libertador | 26%
Plaza Roma | 11,5%
Puerto Madero | 43,4%
Plaza San Martín | 0% Panamericana | 74%
Graphic Analysis In comparison with previous reports, this month we observe an increase in stock, both in Buenos Aires and in the northern area. This is due to the incorporation of areas that were under construction (which were considered stock projected until the report of March 2014). This is the case of the Belgrano Office building (955 Av. Belgrano) in la Ciudad Autónoma de Buenos Aires and 3400 Cuyo, Nodus (3125 Laprida) and Optima III (4150 Avalos) in the northern area.
Office Real Estate Division | Downtown: 4114-1000 | Northern Area: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report|November 2014
Stock A + / A+ Green Stock A +/ A+ Green Composition, in Buenos Aires City (Built and under construction)
BELGRANO/NUÑEZ/SAAVEDRA 7%
PUERTO MADERO 41%
EJE 9 DE JULIO 9%
CATALINAS 14%
PLAZA SAN MARTIN 3%
MICROCENTRO 7%
PLAZA ROMA 19%
Superficie Total: 716.359 m²
Stock A +/ A+ Green Composition, in Northern Area (Built and under construction) DARDO ROCHA; 1% LIBERTADOR; 30%
PANAMERICANA; 69%
Superficie Total: 323.721 m2
Office Real Estate Division | Downtown: 4114-1000 | Northern Area: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report|November 2014
Stock A + planning stage ( Buildings under construction*) Distribution of Stock in planning stage A + (Capital Federal)
Alem y 3 Sargentos 10.840
Paseo Colón y Chile 6.000
Distribution of Stock in planning stage A + (Zona Norte)
Esmeralda y Paraguay 11.000
There are currently no construction works
Salguero y las vías 5.000
Banco Macro Catalinas 41.000
Lima y Carlos Calvo 5.500
Cecilia Grierson 422 2.500
Cecilia Grierson 265 15.555
Alem 815 48.000
Sup. Total: 145.395 m²
Sup. Total: 0 m2
Stock A + planning stage (Buildings in the planning stage) Distribution of Stock in planning stage A + (Capital Federal) Vedia y Tronador 6.600
Distribution of Stock in planning stage A + (Zona Norte)
Cecilia Grierson 222 6.363 Cecilia Grierson 322 6.678
Libertador 1002; 12.854 Libertador 101; 36.800
Sucre 2500; 6.000
Blas Parera 3023; 12.000
Libertador y Juana Azurduy 75.500
Sup. Total: 130.141 m²
Panamá 3840; 8.015
IRSA - Catalinas 35.500
Libertador 77; 11.300
Sup. total: 89,969 m2
Graphic Analysis In the first two graphics, we analyze the composition of the stock in planning stage, which is under construction at the moment. In the second two graphics, we see those buildings which already have a plan. Although in some cases, they have a starting date of works, this date is dated after the closing date of this edition.
División Oficinas | Centro: 4114-1000 | Zona Norte: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report|November 2014
Absorption A+ Buenos Aires City Absorption A+ Buenos Aires City 2001-2013 90000
100000 80000
60000
90000 70000
80000
90000 61996
45000
60000 30000
40000
11.770
20000 0 -1569
-20000 -40000
-15000
-30000
Absorption A+ 2013 Absorption 2013: 60.253
Buenos Aires City 11.770
Northern Area 48.483
Graphic Analysis We highlight that the preponderance of the north in this graph is mainly due to the 48,483m2 incorporated and already absorbed by the market, corresponding to Thames Office Park and Al RĂo.
Office Real Estate Division | Downtown: 4114-1000 | Northern Area: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report|November 2014
Average maintenance fees values in buildings A+ Federal Capital and Northern Areas (perm2) 11
F e d e r a l
C a p i t a l
N o r t h e r n
Maintenance fees*
PESOS per m2 DOLLARS per m2. Exchange: U$S 1 = $ 8,16
A r e a
Maintenance fees*
$ 53,45
PESOS per m2 DOLLARS per m2.
U$S 6,55
Exchange: U$S 1 = $ 8,16
Muestra: Juana Manso 909/1069, Arias 3751, Bouchard 547, L.N.Alem 518,Cecilia Grierson 355, L.N. Alem 855, Ing. Butty 240, San Martin 344.
$ 49,86 U$S 6,11
Muestra: Av. Del Libertador 77, Echeverr铆a 4150, Alberdi 431, Cazadores de Coquimbo 2865, Av. Del Libertador 174, Edison 2659.
Note: * Values as at July 2014
Evolution of maintenance fees values (average in U$S) 6,54
6,68
6,63
6,55
6,1
6,11
Dic-13
Jul-14
6,21
5,1
Jul-12
Dic-12
5,38
Jul-13
Capital Federal
Divisi贸n Oficinas | Centro: 4114-1000 | Zona Norte: 4719-9000
Zona Norte
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report|November 2014
Our team
Pablo Papad贸pulos| Broker Senior
Eleonora Lefevre|Broker Senior
Mariano Costa | Broker Of Central
Eduardo Gibelli|Broker - S. Lomas
Gabriela Avalle|Broker S. Lomas
Francisco Spini|Broker Of.Central
Joaqu铆n Vidiri|Broker Of. Central
M.Silvina Lascano|Broker Of. Central
Guillermo Gallino|Broker Of. Central
Felipe Ramos | Broker Of. Central
Mariana Stange | Directora
Gisela Arditi l Asistente
Newsletters See + on www.ljramos.com.ar
NOVIEMBRE 2012
DICIEMBRE 2012
MAYO 2013
AGOSTO 2013
Office Real Estate Division | Downtown: 4114-1000 | Northern Area: 4719-9000
SEPTIEMBRE 2013
DICIEMBRE 2013
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report I November 2014
Directorio Luis JosĂŠ Ramos, Chairman Diego J. Cazes, General Director Office Real Estate Division Mariana Stange Industries Division Ricardo Costa Chiappe Pablo Vivot
Business Premises Division Miguel Grehan Juan Cruz Beccar Varela Residential Division Sucursal Recoleta, Dina Crusizio Sucursal Lomas de San Isidro, Harry Marples Sucursal Acassuso, Juan Pablo Figueroa Alcorta Sucursal Nordelta , Soledad Ramos Fields Division Juan JosĂŠ Madero (Jr.) Hoteles Division Noel Verger Appraisals Division Eduardo Pereira
Marketing Pablo Benegas Systems Facundo Hidalgo
Office Real Estate Division | Downtown: 4114-1000 | Northern Area: 4719-9000
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