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The most profitable real estate investment is revealed: it yields up to 12% in dollars - La Propiedades
Source:
www.lanacion.com.ar
July 16, 2025
Industrial and logistics real estate specialists confirmed that the sector is undergoing a complete redefinition, with sustained demand.
By Silvina Vitale
The Real Estate Summit panel on the real estate sector that delivers the most returnsFabian Malavolta - LA NACION
One of the panels at the tenth edition of the Real Estate Summit organized by LA NACION was dedicated to the industrial and logistics real estate sector. It was led by Alejandro Winokur, partner and director of the Industrial Area at Newmark Argentina , and Christian Fucile, founder and president of IMB Naves Industriales . The two spoke alongside Josefina Lanzi, a journalist from LA NACION, about the current state of the sector and its growth prospects.
Winokur said the market is undergoing a redefinition process these days . Two factors, such as the sharp drop in vacancy, which fell from 4.9% to 3.2% in one quarter, and the near-zero supply, are leading to a price readjustment. Likewise, sustained demand has reactivated operations .
Sector growth prospects: industrial and logistics real estate
The representative of Newmark Argentina's Industrial Area stated that the business is divided, on the one hand, into the large premium AAA logistics centers , which lead the absorption and concentrate the largest number of new developments. And, on the other, the last-mile segment , where the lack of urban land generates opportunities for property conversion, such as the case of Plaza Logística Maza (in Maza and Cochabamba, Buenos Aires). Winokur explained that "this is happening in a context of lower inflation, greater exchange rate stability, and new rules of the game for importers, which favors investment and consolidates Argentina as a regional logistics hub in a global market where companies are looking to expand their reach beyond their traditional markets."
Alejandro Winokur, partner and director of the Industrial Area of Newmark ArgentinaFabian Malavolta
Fucile adds that " investors returned because today we have historical costs of US$300/m², and therefore, rents have risen; furthermore, occupancy is good, especially in premium locations, with average monthly rents of US$6.5," he said. The founder of IMB points out that it is "an excellent investment option in real estate , since a building takes four years to construct and an industrial warehouse only months, and there is increasingly less supply."
The drop in construction costs that Fucile refers to is due to a marked decrease in input costs, led by Ternium, a steel supplier whose value chain includes these materials. These are highly attractive costs. The other factor is the industrialization and technology implemented in each of the processes, he noted.
Regarding how the market might evolve in the coming years, he stated that, "if macroeconomic stability continues, the market could enter a new expansionary phase marked by strong but more selective and strategic demand."
He clarified that demand is being driven by logistics, consumer goods, and e-commerce companies , operators seeking efficiency and strategic locations, and firms prioritizing long-term contracts for high-quality spaces. "The high pressure on logistics demand, especially in e-commerce, the low availability of ready-to-occupy space, and improvements in macroeconomic and exchange rate stability," he indicated.
Christian Fucile, founder and president of IMB Naves IndustrialesFabian Malavolta
Meanwhile, Christian Fucile emphasized that industrial and logistics warehouses are once again an attractive investment option due to the constant growth in demand, the decline in dollar-denominated costs, and the rise in rental values. "Future investment will be driven by product quality, location, and operational efficiency," said Winokur.
Winokur also stated that while there are no new players in the market yet, they are seeing Argentina back on the map. This is directly related to the high volume of pre-leases and the rapid absorption of available space , suggesting growing interest from institutional developers and investment funds.
In this context of high absorption and limited future supply, competition is no longer just about price , but other factors such as location, construction quality, and operational efficiency come into play. He emphasized that " large logistics centers are the backbone of the market since they concentrate absorption, and new developments allow for large-scale operations, with regional connectivity, and maintain relatively stable prices, even in tighter cycles," Winokur stated.
To meet the high demand, Fucile noted that they are currently working with triple-AAA turnkey warehouses, which he calls "mini-parks": "These are large warehouses with divisible surfaces of up to 250 m², with a market value of around US$250,000 and offering double-digit rents, a very attractive turnkey investment alternative for both the ticket price and the return," he stated.
The two largest transactions in the market in the first half of the year were 55,000 m² in Pilar and 33,000 m² in Escobar, which are explained by the current gross absorption, the high preference for long-term contracts, the boom in AAA deposits, and the search for strategic locations for regional operations.
On the other hand, Winokur noted a growing interest in logistics hubs outside the AMBA region , driven by the need to regionalize operations, optimize costs, and take advantage of local incentives. "Furthermore, Argentina has the potential to attract foreign investment, positioning itself as a regional logistics hub in a global context where supply chain security is increasingly a priority," he noted.
Fucile also highlighted e-commerce as a key player . In this regard, he maintained that logistics continues to expand in the outskirts of large cities and, increasingly, in the interior of the country as well. He explained that "the sector is experiencing a real boom driven by the growth of e-commerce post-pandemic. Every purchase made online for home delivery involves setting a long chain in motion. From supermarkets to fashion brands, including global e-commerce giants that sell every item imaginable, everyone wants to satisfy their customers as quickly as possible." And that means having well-equipped spaces for it.
E-commerce remains the protagonist in the sectorFabian Malavolta - LA NACION
In the talk, he also referred to the use of imported warehouses from China and warned that they are apparently cheaper . "I think we have room to fight because China is far away, there are tariffs to pay, and then someone has to build them here. It doesn't always work out," he asserted. He emphasized that the added value offered by IBM Industrial Buildings "lies in the knowledge and advice we provide to industrialists, precisely because we are industrialists, and in the after-sales advice we provide. We are complementary and help them make good decisions when planning their industry," he said.
At the end of the panel, both leaders offered their perspectives on the future of the sector. Winokur stated, "If the indicators we see daily are confirmed and the macroeconomy adjusts or continues to adjust, I have no doubt that, in the logistics sector, whether it's large properties, large logistics centers, or last-mile e-commerce, there will be a lot of movement." For his part, Fucile analyzed: "I think the industry is also undergoing this transformation, understanding that to be productive, we need dedicated surface areas for those purposes. That's why we support our customers to be competitive in the current context," he concluded.
www.buysellba.com
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Revelan cuál es la inversión inmobiliaria más rentable: deja hasta 12% en dólares
Los especialistas del sector de inmuebles industriales y logísticas confirmaron que el sector está en plena redefinición, con una demanda sostenida
www.lanacion.com.ar
July 16, 2025
Industrial and logistics real estate specialists confirmed that the sector is undergoing a complete redefinition, with sustained demand.
By Silvina Vitale
The Real Estate Summit panel on the real estate sector that delivers the most returnsFabian Malavolta - LA NACION
One of the panels at the tenth edition of the Real Estate Summit organized by LA NACION was dedicated to the industrial and logistics real estate sector. It was led by Alejandro Winokur, partner and director of the Industrial Area at Newmark Argentina , and Christian Fucile, founder and president of IMB Naves Industriales . The two spoke alongside Josefina Lanzi, a journalist from LA NACION, about the current state of the sector and its growth prospects.
Winokur said the market is undergoing a redefinition process these days . Two factors, such as the sharp drop in vacancy, which fell from 4.9% to 3.2% in one quarter, and the near-zero supply, are leading to a price readjustment. Likewise, sustained demand has reactivated operations .
Sector growth prospects: industrial and logistics real estate
The representative of Newmark Argentina's Industrial Area stated that the business is divided, on the one hand, into the large premium AAA logistics centers , which lead the absorption and concentrate the largest number of new developments. And, on the other, the last-mile segment , where the lack of urban land generates opportunities for property conversion, such as the case of Plaza Logística Maza (in Maza and Cochabamba, Buenos Aires). Winokur explained that "this is happening in a context of lower inflation, greater exchange rate stability, and new rules of the game for importers, which favors investment and consolidates Argentina as a regional logistics hub in a global market where companies are looking to expand their reach beyond their traditional markets."
Alejandro Winokur, partner and director of the Industrial Area of Newmark ArgentinaFabian Malavolta
Fucile adds that " investors returned because today we have historical costs of US$300/m², and therefore, rents have risen; furthermore, occupancy is good, especially in premium locations, with average monthly rents of US$6.5," he said. The founder of IMB points out that it is "an excellent investment option in real estate , since a building takes four years to construct and an industrial warehouse only months, and there is increasingly less supply."
The drop in construction costs that Fucile refers to is due to a marked decrease in input costs, led by Ternium, a steel supplier whose value chain includes these materials. These are highly attractive costs. The other factor is the industrialization and technology implemented in each of the processes, he noted.
Strategic demand
Winokur predicted a cycle where available supply will be low and new additions will be marked by carefully planned speculative projects. This analysis is based on data from Newmark, which shows a 3.2% vacancy rate, an average monthly rental rate of US$7.2/m², a quarterly net absorption of 90,800 m², the highest in years, a surface area under construction of 179,300 m² (75% pre-leased), and 121,500 m² of already leased construction area, in addition to a high concentration of activity in the northern region. Yields are in the range of 7% to 8%, and up to 12% in some cases.Regarding how the market might evolve in the coming years, he stated that, "if macroeconomic stability continues, the market could enter a new expansionary phase marked by strong but more selective and strategic demand."
He clarified that demand is being driven by logistics, consumer goods, and e-commerce companies , operators seeking efficiency and strategic locations, and firms prioritizing long-term contracts for high-quality spaces. "The high pressure on logistics demand, especially in e-commerce, the low availability of ready-to-occupy space, and improvements in macroeconomic and exchange rate stability," he indicated.
Christian Fucile, founder and president of IMB Naves IndustrialesFabian Malavolta
Meanwhile, Christian Fucile emphasized that industrial and logistics warehouses are once again an attractive investment option due to the constant growth in demand, the decline in dollar-denominated costs, and the rise in rental values. "Future investment will be driven by product quality, location, and operational efficiency," said Winokur.
Winokur also stated that while there are no new players in the market yet, they are seeing Argentina back on the map. This is directly related to the high volume of pre-leases and the rapid absorption of available space , suggesting growing interest from institutional developers and investment funds.
In this context of high absorption and limited future supply, competition is no longer just about price , but other factors such as location, construction quality, and operational efficiency come into play. He emphasized that " large logistics centers are the backbone of the market since they concentrate absorption, and new developments allow for large-scale operations, with regional connectivity, and maintain relatively stable prices, even in tighter cycles," Winokur stated.
To meet the high demand, Fucile noted that they are currently working with triple-AAA turnkey warehouses, which he calls "mini-parks": "These are large warehouses with divisible surfaces of up to 250 m², with a market value of around US$250,000 and offering double-digit rents, a very attractive turnkey investment alternative for both the ticket price and the return," he stated.
Key locations
He predicted the continued existence of areas like Pilar and Escobar as key hubs and added the western zone, a hub that shows signs of future expansion . At the same time, he maintained that he would continue to look at the southern corridor , with its extremely high development potential, where there is almost no supply, but due to its location, access, and proximity to the city, it is a more than desirable location . Fucile, for his part, emphasized that one of the keys to success in the sector is proximity to access points. "Today, being close to the highway is valued more than ever," he asserted.The two largest transactions in the market in the first half of the year were 55,000 m² in Pilar and 33,000 m² in Escobar, which are explained by the current gross absorption, the high preference for long-term contracts, the boom in AAA deposits, and the search for strategic locations for regional operations.
On the other hand, Winokur noted a growing interest in logistics hubs outside the AMBA region , driven by the need to regionalize operations, optimize costs, and take advantage of local incentives. "Furthermore, Argentina has the potential to attract foreign investment, positioning itself as a regional logistics hub in a global context where supply chain security is increasingly a priority," he noted.
Small and last-mile depots
Regarding the challenges facing small and last-mile warehouses, the Newmark representative explained that, while they are rapidly expanding, they face a major obstacle: the scarcity of urban land . “This segment will become even more strategic in the coming years, but it will require creativity in land use, the repurposing of old buildings, and high operational efficiency ,” he warned. He also highlighted that the opportunities offered by last-mile development relate to the optimization of urban delivery times and costs, the reduction of traffic congestion in cities, high efficiency for e-commerce and retail, and opportunities for the conversion of existing spaces, given the lack of available land.Fucile also highlighted e-commerce as a key player . In this regard, he maintained that logistics continues to expand in the outskirts of large cities and, increasingly, in the interior of the country as well. He explained that "the sector is experiencing a real boom driven by the growth of e-commerce post-pandemic. Every purchase made online for home delivery involves setting a long chain in motion. From supermarkets to fashion brands, including global e-commerce giants that sell every item imaginable, everyone wants to satisfy their customers as quickly as possible." And that means having well-equipped spaces for it.
E-commerce remains the protagonist in the sectorFabian Malavolta - LA NACION
Warehouses imported from China?
Regarding industrial competitiveness, the president and founder of IMB Naves Industriales asserted that the opening of the economy has brought a new paradigm to industrialists and emphasized that it is time to become more competitive in industrial matters by optimizing processes and investing in production goods with the best available technology.In the talk, he also referred to the use of imported warehouses from China and warned that they are apparently cheaper . "I think we have room to fight because China is far away, there are tariffs to pay, and then someone has to build them here. It doesn't always work out," he asserted. He emphasized that the added value offered by IBM Industrial Buildings "lies in the knowledge and advice we provide to industrialists, precisely because we are industrialists, and in the after-sales advice we provide. We are complementary and help them make good decisions when planning their industry," he said.
The challenges of the sector
Finally, Winokur listed the challenges the sector currently faces:- the shortage of urban land for last-mile logistics
- Maintain efficiency in a context of high demand and low immediate supply
- Integrate technology to improve the efficiency and sustainability of warehouses
- develop logistics infrastructure in new regions of the country.
At the end of the panel, both leaders offered their perspectives on the future of the sector. Winokur stated, "If the indicators we see daily are confirmed and the macroeconomy adjusts or continues to adjust, I have no doubt that, in the logistics sector, whether it's large properties, large logistics centers, or last-mile e-commerce, there will be a lot of movement." For his part, Fucile analyzed: "I think the industry is also undergoing this transformation, understanding that to be productive, we need dedicated surface areas for those purposes. That's why we support our customers to be competitive in the current context," he concluded.
www.buysellba.com
