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Cafecitos and gastronomy lead the occupation of commercial premises in Las Cañitas: How much does a rental cost in this area of Palermo - Infobae
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Cafecitos y gastronomía lideran la ocupación de locales comerciales en Las Cañitas: cuánto sale un alquiler en esta zona de Palermo
En este trazado también conocido como “La Imprenta” experimentó un notable impulso. De los más de 950 espacios examinados, el 94% se encuentran alquilados o son propiedad de dueños que gestionan personalmente sus negocios
www.infobae.com
January 23, 2024
This layout, also known as “La Imprenta” experienced a notable boost. Of the more than 950 spaces examined, 94% are rented or owned by owners who personally manage their businesses
By José Luis Cieri
Corner of Jorge Newbery and Soldado de la Independencia in Las Cañitas with a strong presence of cafes and gastronomic establishments
The post-pandemic scenario brought with it an encouraging outlook for the commercial real estate market. The recovery in the occupation of premises is consolidated in several corridors of the city of Buenos Aires. According to a private report, in the Las Cañitas/La Imprenta district, 94% of the properties are currently rented or continue to be occupied by their owners, who manage their own businesses in this area that belongs to the multifaceted neighborhood of Palermo.
Confirmation of this panorama comes from an analysis that reveals that 15% of the occupied premises belong to the Gastronomy sector, consolidating itself as the leading sector in this area of the city of Buenos Aires. At the same time, sectors such as Clothing and Hairdressers are experiencing notable expansion. However, the undisputed protagonists continue to be coffees, registering an increase of 28% compared to the 2023 and 2022 survey.
The study was based on the evaluation of more than 950 spaces distributed in the area between Avenida del Libertador, Avenidas Luis María Campos and Avenida Dorrego to Virrey Loreto, covering a total of 53 blocks crossed by 21 streets and 3 avenues. Currently, 56 available properties were identified in the area.
According to the information collected by Maure Inmobiliaria, in Las Cañitas there are 863 businesses in operation, and the offer includes more than 100 different items. “Only 6% of the spaces are inactive. The vast majority lack signs, both for sale and rental,” Soledad Balayan , from this company, explained to Infobae.
Since carrying out the surveys, they noticed that some commercial premises disappear to be transformed into new buildings.
Balayan commented: “Some of these buildings incorporate commercial premises, while others do not. This is mainly linked to the size of the land and the project that the buyer decides to develop, opting for what is most attractive and profitable for its development.”
Source: Maure Inmobiliaria
A break, the ideal place
Historically, La Imprenta is known for its cafés, and this trend aligns with a global trend that gradually spreads to every corner of the neighborhood.“The cafecito is no longer aimed solely at a specific age segment. For example, decades ago, teenagers used to gather at fast food joints, but today they opt for cafecitos. This means that people of all ages can enjoy a coffee, pudding or croissant in the company of friends, family or a partner,” Balayan said.
A place that hastens its last steps for another opening on Maure at 1600
Values
Currently, there are more than 20 stores available for rent in the area, with some offers in pesos and others in dollars.
Map of the area surveyed in a part of the Palermo neighborhood
In Ortega y Gasset at 1900, there is a 35 m2 property offered at $330,000 per month. On the other hand, in Migueletes at 700, a 48 m2 space is valued at $450,000 per month. In Soldado de la Independencia at 700, a place that could be used for a gastronomic business or café is offered for $2,500,000 per month.
Maure in proximity to Migueletes. According to the report there are 216 businesses in the same location since 2009
As for the proposals in dollars, they range from USD 500 to USD 5,500 per month, with the most expensive being brand new or renovated premises. For example, in Jorge Newbery at 1600, a 210 m2 space costs USD 4,500 per month.
Sustained levels
The vacancy rate of premises, at the time of the survey, remained practically unchanged compared to the previous year, suggesting the stability of the market without signs of recession. At the same time, improvements were evident in some businesses, especially those that required investments, projecting a positive long-term outlook.Balayan stressed that “in this context, the key lies in customer service and the ability of each business to generate a feeling of community in the neighborhood. However, it will be crucial to watch what happens in 2024, as costs continue to rise, especially considering possible adjustments in rates such as electricity and gas.”
Source: Maure Inmobiliaria
Another relevant element is the variability of each rental contract, with those signed during the pandemic possibly enjoying beneficial conditions that, when renewed, undergo drastic changes, requiring adjustments to the new reality.
It is observed that certain items, such as healthy stores, breweries, cell phone accessories and repair stores, and hand beauty, have reached saturation levels and no new income is recorded in these segments.
“Small stores maintain sustained demand and rarely remain empty for long. In contrast, larger ones are more difficult to rent, and it is common to see them, after the pandemic, subdivided, which makes them more profitable for owners and attractive for demand,” Balayan concluded.
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