Peru: there are no warehouses designed from the start for the last mile - Authorized Movers

Peru: there are no warehouses designed from the start for the last mile


By: Jorge Choque

Jul 16, 2021

The Peruvian market still does not have projects designed from the ground up for last mile operations. This warehouse model has enormous untapped potential.

Last mile operations have increased due to increased online sales. However, in Peru, there are no spaces built or designed from the start for the last mile, explains Alberto Sevilla, manager of Binswanger Peru’s industrial zone.

“In recent months, we have observed that they have had to adapt, even” badly “the spaces for the last kilometer (parking lots, for example)”, he explains.

George Limache, head of research at Binswanger Peru, argues that those who intend to enter as developers of this type of warehouse should carefully calibrate the rents and the potential demand that an area may have. “It’s an interesting and still virgin market,” he adds.

Part of e-commerce is closely linked to the last mile. Warehouses should be located in central locations and have different characteristics from those usually seen in condominiums: low height because they store upstairs, more doors, etc.

“Other companies have adapted part of their warehouses, or even current commercial premises, to serve e-commerce”, specifies Limache.

George Limache, Head of Research at Binswanger Peru

Warehouse sector

The warehouse real estate market in Peru has managed to recover quickly from the impact of the pandemic in 2020. Last year, demand was 86,000 m2 of condominium warehouses. Some companies have freed up warehouses, but these are quickly occupied by other companies.

“For 2021, the projection of the demand is to approach the figure of 2019”, explains Alberto Sevilla.

According to George Limache, real estate developers know the market well and add the offer it needs. In this regard, he adds, this 2021 approximately 180,000 m2 will be delivered. “Which is sufficient for the size of our market. Although the vacancy rate will increase, it will remain in the healthy range (5% – 10%), ”he says.

Seville indicates that in 2020 the sectors that maintained demand were logistics, medicines, pharmaceuticals or food. “This 2021, we are already seeing more sectors, mainly related to retail,” he adds.

Co-ownership and autonomous

In the warehouse real estate market, there are stand-alone models and condominium warehouses. Currently, explains George Limache, the demand for stand-alone housing is even greater than that for condominiums, since condominiums are only offered in a few areas of Lima (Lurín, Villa El Salvador, Huachipa and Ventanilla).

“The need goes beyond these areas (Chorrillos, Cercado, Callao, Ate, Santa Anita, Los Olivos, etc.), he adds.

In this regard, Alberto Sevilla argues that for several companies, moving away from the center represents a significant impact on their logistics costs, so they prefer to settle in more central areas, even if it means paying a higher rent and operating in warehouses with lower standards. than condominiums.

“More than anything, these types of businesses occupy areas of less than 5,000 m2,” he says.

However, George Limache argues that the larger the companies or logistics operations, the more ready they are to consider more remote areas (as far as Lurín), “even if going further (Chilca, for example) is no longer an option. viable option, ”he emphasizes. outside. .

Regarding the location of the warehouses, the south will continue to be the main development area because this is also where there is the greatest supply of land, explains Limache. In addition, he argues that in the medium term the trend could change, thanks to the peripheral ring road (Periurbana), whose work could start in 2022.

“If they are developed, Ventanilla (North) and Huarochirí (East) could accommodate the development that we see today in Lurín,” he says.


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