Expansion of Brazil's Industrial Real Estate Inventory: 473,000 m² Delivered in 1Q2024, Totaling 25.5 Million m²
- Log CP, Barzel, Cy.capital, and Fulwood were the companies that completed deliveries during the period
- Out of the four properties delivered, three are located in the Southeast region and one in the Northeast
The first quarter of 2024 witnessed significant activity in Brazil's industrial real estate sector, as indicated by Market Analytics data. With the delivery of 473,000 m² of Class A+, A, and B industrial properties, the country's inventory expanded to a total of 25,559,062 m² of such assets.
BRZ040 Logistics Park
The largest property delivered is BRZ040 Logistics Park, in the Metropolitan Region of Belo Horizonte. Part of Barzel´s portfolio, the asset spans 67,000 m² and was delivered in March, with pre-leasing in four modules leased by GTEX.
Betim Business Park
Also in the Metropolitan Region of Belo Horizonte, the Betim Business Park is a 44,000 m² development by Fulwood. Delivered in February, the A+ class asset is located in the city of Betim, 29 km from Belo Horizonte.
Log Salvador
Log Salvador represents Bahia in the new national stock. With an addition of 44,000 m², the development now has 88,000 m² of GLA. Owned by LOG CP, the asset is 100% leased, with companies like Mercado Livre and M. Dias Branco as tenants.
Cy.log Guarulhos – Fase 1
The cy.capital property in Guarulhos, Cy.log Guarulhos, had its first phase delivered in January. With 37,000 m², the asset was 100% leased by Mundial Logistics and is located two kilometers from Guarulhos International Airport.
