MercadoLibre’s second distribution center was inaugurated in recent days. It covers an area of 43,000 square meters—equivalent to 10 professional soccer fields combined—and is the largest warehouse facility in the country and one of the five largest in Latin America.

This investment is part of an expansion plan with a budget of USD 100 million through 2022, during which time the company also expects to open eight additional wineries in the regions of Antofagasta, Coquimbo, Valparaíso, O’Higgins, Maule, Temuco, and Los Lagos.

The expansion strategy pursued by the online retail giant is in line with market trends for this type of real estate asset, which has experienced explosive growth over the past year and is expected to continue growing in the coming years.

The Central Bank’s latest projection for economic growth this year ranges between 8.5% and 9.5% annually. These figures, combined with the rapid penetration of e-commerce and the steady growth of this sales channel, have led to a significant increase in demand for the warehouse space required by the online retail supply chain. This situation has led to a decrease in warehouse vacancy rates, which have reached record lows in recent years, standing at 1.48%. Furthermore, supply has kept pace with the increase in demand, with approximately 200,000 m2 expected to come online for the remainder of the year.

In terms of market share, the West Zone accounts for 40% of the total leasable area, followed by the Northwest Zone with 24%. Next is the North Zone with 18%, and finally the South and Central Zones, which have a lower concentration of the supply

at 13% and 6%, respectively.

As for rental rates in the warehouse market, they closed at 0.120 UF/m², representing a 7% increase year-over-year.