Friday, January 27, 2023

The resurgence of Florida Street: new brands that bet on tourist land

not even that World Opaque arrival of tourists in the country. flower alley He speaks Portuguese again, with an influx of Brazilians attracted by the exchange rate every week. In the last half of the year, brands once again bet on the pedestrian street and came up with new offerings aimed at foreigners.

According to the latest data released by Argentine Chamber of Commerce (CAC)Total in the period between September and October 41 vacant premises for rent or saleThis is almost half of the vacancy a year ago There were 71 vacancies available.

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” area of microcenter showing a strong recovery driven by two key factors: tourist arrivals attracted by a favorable exchange rate and return to offices”. Martin Potito, director of the Office Division of LJ Ramos, explained.

“Brands are coming back to the area. We see above all clothing or leather stores that bet on tourists. What is happening is the subdivision of larger premises as demand generally tilts towards smaller spaces.“Total Potatoes.

The Falabella complex has been on rent for years, but hasn’t found a new tenant

For the expert, the event would be even bigger if there was no Trap on import. “Today we are witnessing the inauguration of retail Among the brands that can manufacture in the country. There aren’t many people you want to invest in the country if they don’t know if they’ll be able to bring goods in.“, I explained.

landing of brands

One of the brands betting heavily on pedestrians puma that, in March last year, I leased the Florida 744 complex vacated by Just for Sport, it is the place of 850 square meters, with a sales room of 470 square meters. He had two small stores and decided to close them to rent out this store and added 17 employees.

“There was a huge space in front of Galeras Pacifico that was empty where many clothing stands were set up, which is working very well”added to his share, Raphael Fazen BlattVice President of the Association of the Friends of Florida Street.

According to Fagenblatt. The demand has been revived, although the shortage of office workers is still felt in the region. “The new openings we see are related to the clothing and leather industry, not so much to gastronomy”The merchant said.

“Today we see brands that hit the pedestrian are looking for smaller locations. Classic appliance stores today are subdivided into two locations. It should be kept in mind that electronic commerce has gained a lot of ground since the pandemic“, concluded Potito who calculated that the vacancy of offices in the area is close to 15 percent.

prices

Commercial property values ​​in Florida hit their all-time low, but are slowly recovering, “Before the Pandemic in 2019 Can be between US$45 and US$60 per square meter (m2) Today these prices are in between u$s 15 and u$s 30 per m2″I explained by Jorge Gayoso, LJ Ramos.

“Rental values ​​are between US$18 and US$25 per m2, which have not changed since the beginning of the year,” said the real estate practitioner. and he held “The rental of an XXL mega store in Florida 202 where Falabella worked and developed 8,000 m on 4 floors, it could take months to find a tenant.”

Rental prices have remained stable since the beginning of the year, despite rising demand in the second half

From LJ Ramos they calculate that the vacancy at Florida Pedestrian is closer to 10%. “Demand remains only in Florida, Córdoba and the downtown area in Corrientes, with little interest in the surrounding streets,” Gayso concluded.

Hard data is the biggest business today. premises related to Athenaeum Bookstore with more than 1400 m2 it costs $1.2 million, But despite not having bills for utilities (gas, electricity etc.) and being a gastronomic facility, it has yet to find a new tenant.

Nation World News Desk
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