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Latin America Market Reports

Latin America Office Market Report

Average Asking Rent (Price/SF)            $22.94
Vacancy Rate (%)             16.0%
Total Inventory (SF)
          229.9M

2017 was characterized by the constant growth of the capitals of Brazil and Mexico. Annual absorption in Mexico City and Sao Paulo totaled 5.7 million square feet. These cities also had the largest inventories in the region, with 67.6 million square feet and 44.5 million square feet, respectively. The average vacancy rate in Latin America stood at 16.0%.

Latin America Industrial Market Report

Average Asking Rent (Price/SF)                 $6.53
Vacancy Rate (%)                15.2%
Total Inventory (SF)              460.5M

Latin America’s industrial market delivered more than 15 million square feet in the final quarter of 2017, while its vacancy rate was essentially unchanged. However, year-to-date absorption surpassed 12.0 million square feet, confirming the confidence in the region.

Buenos Aires Office Market

Average Asking Rent (Price/SF)                $30.53
Vacancy Rate (%)                 6.23%
Net Absorption (SF)     496,833

Buenos Aires is the largest office market in Argentina, with nearly 20.8 million square feet of total stock, including 14.3 million square feet of rentable Class A space.The market’s low vacancy trend continued through the first quarter of 2018, resulting in another quarter of positive net absorption. The vacancy rate increased slightly from the previous quarter, closing at 6.4%.

Buenos Aires Industrial Market

Average Asking Rent (Price/SF)                  $9.20
Vacancy Rate (%)                   10.3%
Total Inventory (SF)       22,6MM

Buenos Aires is the largest industrial property market in Argentina, with approximately 2.1 million square meters of Class A warehouse space and over 10,500 acres of industrial parks, representing 50.0% of the entire country´s market. The stock of Class A warehouse space increased to 2.1 million square meters during the first quarter of 2018, while its vacancy rate increased to 10.3%.The average rental rate ended the quarter at $8.20/SF, for a 17.0% increase year-to-date.

Mexico City Office Market Report

Average Asking Rent (Price/SF)              $25.39
Vacancy Rate (%)             13.65%
Net Absorption (SF)            119,067

Mexico’s real estate markets are apparently returning to normal now that the uncertainty created by the new administration in the United States has subsided. Companies are moving on with their plans for growth and expansion, renegotiating contracts for space currently occupied.

Mexico City Industrial Market Report

Average Asking Rent (Price/SF)                $5.04
Vacancy Rate (%)                 4.4%
Total Inventory (SF)        9MM

Latin America Office Market Report
Latin America Office Market Report
4Q17
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Latin America 2Q17 Industrial Market Report
Latin America Industrial Market Report
4Q17
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1Q18 Buenos Aires Office Market
Buenos Aires Office Market
1Q18
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1Q18 Buenos Aires Industrial MarketBuenos Aires Industrial Market
1Q18
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4Q16 Mexico Office Market
Mexico Office Market
1Q17
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1Q17 Mexico Industrial Market
Mexico Industrial Market
1Q17
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4Q17 Santiago Office Market SM Spanish
Santiago Office Market SM Spanish
4Q17
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