Brookfield breaks ground on Extrema Industrial Park in Minas Gerais, Brazil

Construction on the two-phase project began in 1Q23. Phase I is expected to be delivered in 3Q24, and Phase II will follow with completion in early 2025. SiiLA Market Analytics reports the project is well timed considering the 4Q22 occupancy of 94% for Class A+ and A industrial in the Minas Geras region. Brookfield Properties Managing Director Hilton Rejman is in agreement highlighting "The Extrema industrial market has gained significant representation, especially in the last four years, a period in which the logistics sector in the country has accelerated, driven by the pandemic. In addition to the region's favorable tax incentives, its proximity to the city of São Paulo (only 100km away) and its strategic location between the capitals of SP, RJ, and MG are the major differentiators". 

The Exterma development is yet another example of Brookfield Properties' big bets on logistics condominiums. In 2022, Brookfield Properties delivered the Parque Logístico Guarulhos III, in the municipality of Guarulhos, in Greater São Paulo, with approximately 94,000 m² of area, and completed the construction of the Parque Logístico Barueri, in Barueri-SP, with 100% of the 111,000 m² of area pre-leased to Mercado Livre. 

You can learn more about Brookfield Properties JV with GRU Airport from SiiLA REsource's recent article about the development of Parque Logístico Guarulhos II and Parque Logístico Aero I & Aero II. 

SiiLA will be following the industrial sector in Minas Gerais and the Brazilian commercial real estate market. Please visit SiiLA Market Analytics to learn more about our solutions or contact us at comunicacao@siila.com.br.