Clash of Titans! Mercado Livre and Shopee Battle for Leadership in the Logistics Market

The ranking of the largest leases is led by Bridgestone, with the Golgi Mauá (116,496 m²), followed by Mercado Livre, with the Bricklog Guarulhos (105,335 m²), and Shopee, at GLP Bandeirantes – P2 (86,357 m²).

Companies such as ID Logistics, Ceva Logistics, Assa Abloy Brasil, and Casa K&M also appear on the list, but the spotlight remains on Mercado Livre and Shopee, which together account for the majority of the leased space.

Among these top 15 leases, Shopee leads in total area, with 309,000 m² across four leases. Mercado Livre follows closely with 275,000 m² across five contracts.

Of the 15 largest leases, nearly half — 489,000 m² — corresponds to newly delivered stock that was immediately occupied, highlighting both the lack of available space and companies’ appetite for modern, well-located properties.

This trend is occurring despite a challenging economic environment, marked by consecutive increases in the Selic rate since 2021, which have raised financing costs and pressured developers.

Investments, however, are starting to pay off. Between 2019 and 2025, the market value of new logistics stock rose from R$ 17.34/m² to R$ 28.72/m², an increase of 65.6%. Properties delivered by the end of 2018 have also appreciated, up 46.5%, reaching R$ 23.76/m² — a difference of R$ 4.90 per m².