Uruguay's industrial and logistics sector shows clear signs of consolidation and growth, with high occupancy levels, ongoing expansions and new projects under development. This is indicated by the Industrial & Logistics Report Uruguay 2024, The Colliers, which analyses the evolution of the market and its short and medium-term prospects.
Currently, the country has 14 industrial and logistics clusters, which total 650 hectares distributed in the departments of Montevideo and Canelones. The average land sale price in industrial parks is USD 66/sqm, while the monthly rental of logistics warehouses averages the USD 7.4/m²..
Among the consolidated parks, the Olmos Industrial Park, with 180 hectares and 90,000 m² of constructed area, represents the largest 28% from the national inventory. Another emblematic case is West Pole, The number of roofed installations increased from 10,000 m² to 120,000 m² with full occupancy, and has already started an extension of 30,000 m².
The report also highlights the dynamism of expanding parks, as Agatone (Route 101), which expanded its surface area by an additional 3,000 m², of which only 1,320 m² remain available. Also LOG 21 (Route 1), which finished its first stage of 4,685 m² with 100% occupancy, and started a second one of 5,900 m² planned for the first quarter of 2025, with a third already in the pipeline.
“The consolidation of parks such as Olmos or Ruta 5 coexists with the sustained growth of more recent developments such as Agatone or LOG 21, which shows a healthy ecosystem, where consolidated players coexist with new players that respond to an active demand”.”, he pointed out Fermín Zufiaurre, Market Leader at Colliers Uruguay. “Uruguay is striking a balance between stability, infrastructure and investment opportunity”.
In addition, the market is preparing for one of the most important new features of the year: the inauguration of the Zonamerica Industrial Park, The project is planned for the second half of 2025. With 25 hectares, This development will increase the total inventory by 4%. Zonamerica will enter the market with a 37% of its already reserved surface area, and will house a 30,000 m² audiovisual campus led by Musitelli / Reducto Films, consolidating its profile as an innovation hub.
Industrial and logistic clusters are mainly concentrated in the corridors of Route 5, Route 101 and Olmos Junction, which account for more than 50% of the inventory. These poles are favoured by their proximity to urban centres, road infrastructure and strategic connectivity.
The report concludes that Uruguay is moving towards a more professionalised and competitive model, with a diversified offer, stable prices and new projects that strengthen its regional positioning.
For more details, you can download the full report here.
