Guarulhos Maintains High Demand for Industrial Properties and Is Set to Receive New Supply in 2025

Despite a large supply, Guarulhos continues to see high demand for industrial properties, making it an attractive region for investment

Mauro Dias, President of GLP and GLP Capital Partners in Brazil

By: SiiLA News

02/26/2025

Guarulhos, the second-largest industrial property market in Brazil, continues to expand. According to data from SiiLA’s Market Analytics, the region currently holds 2.434 million square meters of logistics space, with more growth on the horizon.

SiiLA’s new inventory monitoring indicates that up to 648,000 square meters of new Class A+, A, and B developments could be delivered in 2025. Among the projects under construction are Kinea’s Klog Guarulhos, KSM Realty’s KSM Log Guarulhos I, and the expansion of Brookfield’s Parque Logístico Guarulhos II.

Another major highlight is GLP Guarulhos III, a development set for completion in 2026. According to information confirmed by REsource, the asset will span 252,000 square meters, with an asking rent of R$ 43 per square meter.

The project will be developed in two phases: the first, covering 106,000 square meters, is expected to be delivered in March 2026, while the second phase, totaling 138,000 square meters, is scheduled for completion in September of the same year.

GLP already operates two major properties in the region, one with 440,000 square meters and another with 496,000 square meters, both currently at full occupancy.

Today, Guarulhos has a vacancy rate of 10.49% and an average market rent of R$28.21 per square meter for Class A+, A, and B properties.

Key Players in the Region

Consumer goods companies dominate the tenant profile, with retailers and e-commerce businesses leading the market, accounting for 36.9% of total occupancy. Additionally, logistics and transportation firms occupy 29.9%, while the food, beverage, and tobacco sector represents 15.7%.

Shein stands out as the largest tenant, occupying 215,000 square meters at GLP Guarulhos II. Mercado Livre follows closely behind, with 170,000 square meters spread across GLP Guarulhos II and Parque Logístico Aéreo I. Magalu rounds out the top three, leasing 120,000 square meters, also at GLP Guarulhos II.

Among property owners, GLP is the dominant player, holding 936,000 square meters in the region. Sanca follows with 248,000 square meters, while Brookfield comes in third with 194,000 square meters of leasable area.

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