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Americanas stores are reducing their market share in industrial properties. The most recent space reduction took place in the first quarter of 2025, when the company vacated 48 thousand m² at Armazenna 4 Centro Logístico in Cabo de Santo Agostinho, Pernambuco.
In this facility, the retailer occupied 101 thousand m², making it the company's largest leased space in the country. The information was exclusively obtained by SiiLA’s intelligence team.
According to SiiLA’s real estate market data platform, Market Analytics, Americanas ended 2024 with 476 thousand m² in A+, A, and B-class industrial properties.
For comparison, in 2024, Americanas vacated a total of 41,6 thousand m² across properties in Pará, Rio Grande do Sul, and Bahia. In other words, the exit from Armazenna 4 alone exceeded all the space reductions from the previous year.
As of the publication of this article, Americanas has not responded to inquiries.
In January 2023, a R$20 billion fraud scandal was exposed, leading to investigations by the Securities and Exchange Commission of Brazil (CVM), the Federal Police (PF), and the Federal Public Ministry (MPF).
This scandal triggered Operation Disclosure, which executed arrest warrants against former CEO Miguel Gutierrez and former director Anna Saicali. Additionally, search and seizure warrants were issued against 14 former executives, with over half a billion reais in assets and funds seized.
These events led to a widespread crisis, causing Americanas’ industrial property occupancy to drop by 36,6%, from 676,4 thousand m² to 428.5 thousand m². This figure does not include C-class properties, standalone warehouses, or retail stores.
Now, with a new board, management, and executives, Americanas is trying to restructure and explore new growth avenues. Recently, the company announced investments in expanding services within its physical stores.
Owned by Galne Empreendimentos, Armazenna 4 Centro Logístico is a 139 thousand m² facility, of which 101 thousand m² were leased by Americanas and the remaining 38 thousand m² by Amazon.
The property is a A+ class development located in the Cabo de Santo Agostinho region of Pernambuco.











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