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Alto Palermo Group Announces Major Shopping Center Between Soho, Hollywood

On December 2, 2011, In creative class, lifestyle, real estate, tourism, by InvestBA
Alto Palermo Shopping Palermo Soho Hollywood

The new Alto Palermo galleria will be the new nexus for Palermo Soho and Hollywood shopping and dining.

After decades of dormancy, Avenida Juan B. Justo is rapidly becoming one of the most valuable stretches of real estate in Buenos Aires. The major transportation artery which serves as the auto and rail dividing line between two of BA’s most desirable neighborhoods, Palermo Hollywood and Palermo Soho, will soon be home to a major new shopping center thanks to Alto Palermo SA, the developers behind six of BA’s most exclusive gallerias including Alto Palermo, Patio Bullrich, Galerias Pacifico and Abasto.

According to iProfesional.com, the US$50 million shopping complex will rise on an enormous parcel bordered by Juan B. Justo, Santa Fe, Godoy Cruz and Paraguay. The parcel, formerly owned by the Federal Rail Real Estate Commission, sat dormant for decades in the shadow of the brick train trestle that winds from the Palermo parks toward the southern BA barrios. The Alto Palermo project will now serve as a shopping and dining magnet and catalyst for connecting the Palermo Soho and Hollywood neighborhoods.

The project is scheduled for completion in 18 months which would mean a June 2013 Grand Opening. According to iProfesional, three retail concepts are being considered for the development: a traditional galleria with the same shops found in Alto Palermo and Patio Bullrich, a luxury dining complex called Alto Gourmet, or the first high-end outlet galleria in Buenos Aires to capitalize on the Boom de los Outlets in Villa Crespo.

With Alto Palermo only a mile away, InvestBA believes the greatest potential would be a combination of luxury outlets and high-end dining all under one roof similar to Sawgrass Mills in Florida. The year-round attraction for porteños searching for BA’s finest restaurants together with international visitors including North Americans, Europeans and  Brazilians “who buy everything” would be unbeatable.

We think Porteño Mills has a nice ring to it.  (Full Story in Spanish)

For more information about shopping and dining in Buenos Aires, download the new issue of InvestBA Privada.

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Buenos Aires Shopping Centers Approach 100% Occupancy

On September 20, 2011, In lifestyle, real estate, tourism, by InvestBA
Buenos Aires Shopping Center

Consumption Junction: Patio Bullrich is one of the BA malls with 100% occupancy and a waiting list.

The only thing harder to find than a parking space in Buenos Aires may soon be retail space. “It’s almost impossible to rent space in a shopping center,” reads the headline in Andres Sanguinetti’s article in today’s Cronista.

The piece focuses on retail sales, monthly rents and occupancy levels at some of the largest shopping centers in Buenos Aires, and all three trends reflect the consumption boom fueled by local demand and foreign visitors alike.

Retail sales are up 35% over last year with some 76 million shoppers packing BA gallerias like Alto Palermo and Patio Bullrich, both of which have reached 100% occupancy. It’s a similar story at Abasto, Dot Baires and Paseo Alcorta where occupancies all exceed 99%, and the majority of existing leases are set to renew next year. Most Buenos Aries shopping centers now have waiting lists for tenants and established retailers are scrambling to find larger spaces in non-traditional locations.

The pace of rental growth in Buenos Aires mirrors a larger trend in Latin America where consumption is being fueled by better access to credit, job growth and a lack of solid savings options. The retail phenomenon is analyzed further in Cushman & Wakefield’s must-read Main Streets Across the World 2011. The study lists Florida Street as the most expensive retail location in Argentina at US$100 per square foot annually or #47 of the 63 global cities surveyed. (Full Story in Spanish)

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For Sale: Buenos Aires Penthouse in Recoleta with Rooftop Garden

On August 10, 2011, In real estate, by InvestBA

InvestBA is pleased to present this beautiful two-story penthouse residence in the prestigious Buenos Aires neighborhood of Recoleta.

This 2,920-square foot (271 m2) home features 2,140-square feet (198 m2) indoors with an oversized master suite, separate bathrooms, a spacious den, living room, dining room, kitchen and large study downstairs. The upstairs features a flexible living area, a solarium and a sprawling 780-square foot (72 m2) rooftop terrace with amazing views and a private parrilla.

This classic ten-story French building is located in the heart of Recoleta between Alvear & Libertador Avenues only steps away from the Patio Bullrich galleria, the Four Seasons Buenos Aires, the Caesar Park, the fine dining at La Recova, the Avenida 9 de Julio and only a few blocks from the Park Hyatt Palacio Duhau and the Recoleta Cemetery and Cultural Center.

Asking Price: US$790,000
US: 1.772.933.4663
BA: 5411.5486.2585

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VanityBA: Buenos Aires Photo

On October 7, 2010, In arts & entertainment, buenos aires events, creative class, culture, vanityba, by laura

A photo by Alejandro Chaskielberg, a finalist for the Concurso Petrobras Buenos Aires 2010

From October 27-31, the annual Petrobras Buenos Aires Photo event will take place at the city’s Palais de Glace in Recoleta, where photographs from some of the world’s top photographers will be on display. Many of Argentina’s most prominent galleries, such as Rolf Art- Productora de Arte, Ruth Benzacar Galería De Arte, 713 Arte Contemporáneo, and  Galeria Rubbers Internacional will be in attendance, as will some notable foreign galleries including Miami’s Sammer Gallery, Santiago’s Galería Isabel Aninat & Cecilia Caballero Art Consultant, and Spain’s Galería Barcelona. The photos, which range from classic to contemporary, cover a huge variety of topics, subjects, and styles. The event is organized by Arte al Día and La Nación and is sponsored by Petrobras, Prudential, Fundación Deloitte, and American Express. Other sponsors have invited certain artists and curators to take place in Buenos Aires Photo; Patio Bullrich and Madero Harbour are sponsoring artists Flavia Da Rin and Adriana Lestido, respectively, while curator Rodrigo Alonso is sponsored by Hope Funds and curator Julio Sanchez is sponsored by OSDE.

For more information on Buenos Aires art and cultural events, check out the VanityBA archives and download the October issue of InvestBA Privada.

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Lucire: Fashionistas Find Paradise in Buenos Aires & Mendoza

On June 14, 2010, In lifestyle, tourism, by InvestBA
Lucire article on shopping in Buenos Aires and Argentina

BA-based Cardon is one of Argentina's fashion retailers recommended by Lucire for their quality.

Buenos Aires has long been synonymous with fashion, so it seems only natural that Lucire, the global fashion magazine, would pay a visit to Argentina. With Town & Country, editor Elyse Glickman gives Lucire readers a sweeping travelogue of two of the country’s most fashionable destinations: Buenos Aires (Town) and Mendoza (Country).

From Recoleta’s boutiques to Palermo Soho to high-end malls like Patio Bullrich and Gallerias Pacifico, Glickman is impressed by the low cost/high quality of the clothes and shoes she encounters. She describes Cardon garments as possessing “workmanship that would make Ralph Lauren green with envy,” and declares the local shoe stores “particularly fabulous, not only for the quality-to-price ratio but also the shopping environments, which are part-tea salon, part-walk-in closet and part-couture boutique.”

When it comes to fashion, Mendoza doesn’t play second fiddle to Buenos Aires, although Glickman confesses to being taken by surprise. “What makes Mendoza, province and city, so memorable is that its charm and sophistication sneak up on you.” She comes away impressed with the “seemingly endless offering of (more) leather goods, sweet shops doling out divine ice cream and sorbet, unprepossessing clothing stores and craft boutiques that are refreshingly un-kitschy.”

Mendoza, she later discovers, also offers professional shoppers a picturesque place to unwind and raise a malbec toast after a stressful day of credit card swiping. In the post-shop analysis, she says, Argentina leaves you “with a sense of pride and the memory of sensory pleasure.” At least until the AMEX statement arrives. (Full Story)

For more information about unique shopping destinations in Argentina, download the new issue of InvestBA Privada.

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