For André Gavazza, Development Director at GLP Brazil, e-commerce has become the primary segment in the company’s portfolio. “Between 2016 and 2019, e-commerce increased its share of our logistics facility portfolio and continues to be the main growth driver for GLP. By the third quarter of 2024, e-commerce represented 64% of the occupancy in our portfolio, a significant increase compared to 2016, when it accounted for less than 20%.”

This trend is reflected in various operations. Shopee, for instance, recently announced the opening of a new logistics hub, which will include 12 distribution centers and 150 logistics hubs across Brazil.

In addition to e-commerce, other sectors have also stood out in occupying logistics properties, such as logistics operators, auto parts, and pharmaceuticals. Gavazza emphasizes that this diversity of tenants reinforces the strategic importance of industrial properties for various types of operations. “This diversity highlights the range of sectors that recognize the strategic value of our facilities in enhancing their operations,” he said.

Rio Bravo, an investment manager specializing in income-generating real estate, emphasizes the strategy of diversifying occupancy to ensure strong asset performance. Alexandre Rodrigues, Fund Manager at Rio Bravo Investimentos, highlighted that this diversification has been observed across different company funds, including retail funds.

“In summary, we aim for diversification,” Rodrigues said. According to the executive, the banking sector has historically been one of the largest occupiers in retail properties, but this is changing. “We are also seeing growth in the education and fitness sectors. We aim to continue attracting new tenants and gradually reduce reliance on the banking sector,” he concluded.