Market Analytics data from SiiLA show that 988,300 square meters of gross area were leased in logistics parks during the first quarter of 2025. The period was marked by significant movement both in and out of properties, but only a few states saw negative net absorption.

São Paulo maintained its leading position, with 538,000 m² absorbed — more than twice the amount in Minas Gerais (189,000 m²) and four times that of Rio de Janeiro (133,000 m²). The state also recorded the highest volume of returns (418,000 m²), but still ended the quarter with a positive net absorption of 119,900 m².

Other noteworthy markets included Pernambuco (54,800 m²), Espírito Santo (19,600 m²), and Ceará (14,700 m²), although some of these saw significant move-outs — in Pernambuco's case, 69,800 m² were vacated, resulting in negative net absorption.

States traditionally less active, such as Amazonas, also saw some leasing activity — 3,700 m² during the quarter, with no returns recorded. Meanwhile, Alagoas, Pará, Paraíba, and Sergipe registered no new absorption in the period analyzed.

Shopee led the ranking of largest occupiers in the quarter, with 114,400 m² of gross absorption, ahead of operators like ID Logistics (96,100 m²) and Ziranlog (28,800 m²). Shopee’s activity was concentrated in four developments in the state of São Paulo: Log São Bernardo do Campo (83,500 m²), Log Ribeirão Preto (19,800 m²), Dom Pedro Business Park in Atibaia (8,400 m²), and CLI 2 Itapevi in Barueri (2,600 m²).