According to data from SiiLA's Market Analytics platform, which was presented at the Logística do Futuro conference, the Northeast region of Brazil is emerging as a significant player in the logistics sector. In the most relevant monitored areas, the vacancy rate for logistics properties in the Northeast is impressively low at just 3.3%, making it the lowest vacancy rate nationally.

During the second quarter, the region experienced a net absorption of 25,135 square meters of logistics space, while there was no new inventory added during this period. The only noteworthy expansion recorded in the first three months of 2023 was the addition of 18,500 square meters to the Grid FSA logistics facility, completed in March in Feira de Santana, Bahia.

Giancarlo Nicastro, CEO of SiiLA, believes that the Northeast is solidifying its position as a thriving logistics hub. As of the second quarter of 2023, the region boasted a total logistics space inventory of 2,394,176 square meters, with an additional 234,411 square meters projected to be delivered in the near future. "Major retailers and e-commerce giants have been establishing their logistics operations in the Northeast. For example, prominent tenants in the region include companies like Mercado Livre, occupying 79,609 square meters, Amazon with 196,400 square meters, and Magazine Luiza with 34,951 square meters," notes the executive, citing data from the Market Analytics platform.

In the first quarter of 2023, Magazine Luiza expanded its presence in the region by leasing an additional 7,872 square meters of space at the Log Fortaleza facility, where the company already occupied 25,328 square meters. Similarly, since the third quarter of 2020, Mercado Livre has been steadily expanding its operations in various developments across Bahia, Ceará, and Pernambuco.

Furthermore, in June, the Brazilian postal service, Correios, announced the construction of its first international hub in the Northeast, specifically in the state of Rio Grande do Norte, focused on international operations. Company data reveals that 23% of international parcels delivered in Brazil are destined for this region. At the time, Fabiano Silva dos Santos, the President of Correios, emphasized, "By establishing our international parcel center in the Northeast, we are not only creating thousands of jobs in the region but also cementing its potential as a burgeoning logistics hub, which is attracting interest from other companies."

The Northeast's strategic advantage lies in its proximity to routes connecting to Europe, Africa, and Central and North America, making it an ideal location for importing and exporting goods. Jorge Luiz Filho, the Research Coordinator at SiiLA, underscores the region's appeal, stating, "Setting up an international distribution center in these locations makes perfect sense due to the vast consumer market, along with the international exportation, growing industrial activity, and limited storage and container options. This strategy helps reduce costs and enhance operational efficiency."