Decrease in Vacancy Shows Brazil’s Industrial Properties Market Remains Hot

In the third quarter, two regions reached zero vacancy: the first was Pouso Alegre, Minas Gerais, which has 41 thousand square meters of stock and reached zero vacancy after four quarters at an 8.9% rate. 

Another region to clear its available space was Florianópolis, Santa Catarina, which, after six quarters with a 33.2% vacancy rate, exhausted its 36 thousand square meter stock. 

Brazil’s largest industrial properties region, Cajamar, also performed well, with vacancy dropping from 12.6% to 11.3% across its 2.9 million square meters.  

Guarulhos, the second largest region in Brazil, also saw a reduction in vacancy, from 7.1% to 6.8%, with a total stock of 2.2 million square meters. 

Extrema, with 1.1 million square meters, remains one of the main industrial warehouse market players, also reporting a decrease in vacancy to 5.1% after two quarters of increases. 

Mercado Livre led in occupancy, renting 124 thousand square meters. Its largest absorption was at Syslog Cajamar, with 54 thousand square meters, followed by substantial leases at CLCT 1 Quintas and Cone Multimodal Phase II, at 29 thousand and 22 thousand square meters, respectively.

Unilever Brasil also stood out among top absorptions, with a 43 thousand square-meter lease at CITLOG Viracopos. Magalu executed two key leases at Bresco Contagem and 3SB Parque Logístico, totaling 33 thousand square meters.