Barzel Properties and ELD Land & Development have entered into a partnership for the construction of logistics centers, with an initial investment of R$ 500 million. The decision to embark on this venture came after approaching the country's leading retailers and mapping out their growth plans. The conversations revealed a strong demand for new distribution centers, particularly for fast e-commerce deliveries outside of São Paulo.

The first five plots of land are in the final stages of acquisition, located in the metropolitan regions of Belo Horizonte, Rio de Janeiro, Salvador, Porto Alegre, and the Greater São Paulo area in Cajamar – Brazil's main logistics hub. The first project, in Minas Gerais, will have an initial area of 68,000 square meters, with the possibility of expansion up to 200,000 square meters. The construction will be completed starting from the second semester of 2023, and pre-leasing agreements are close to being finalized.

This move marks Barzel's expansion in the warehouse sector. Founded in 2015 by Nessim Sarfati (former Cyrela executive), the company manages R$ 4 billion in real estate assets, including the Thera Corporate and Pinheiros One office buildings (formerly the Odebrecht headquarters), both located in the city of São Paulo, and CD01, GPA's main distribution center at the beginning of the Anhanguera Highway.

ELD, on the other hand, operates in real estate development in the logistics and industrial sectors. The business was founded by Clarisse Etcheverry, who previously led Prosperitas and GLP, and has over 20 years of experience in the industry. The funds for the project will come from a new fund with capital from an undisclosed foreign investor who is a partner of Barzel.

Source: Estadão