Industrial Properties in Brazil’s Northeast Gerion Gain Momentum and Surpass the South

High absorption, falling vacancy, and new developments point to regional maturity, with Shopee and Amazon among the largest tenants

SUBSCRIBER EXCLUSIVE

Felipe Cirne Lima, Head of Business Development at Shopee Brazil

By: SiiLA News

07/21/2025

Recent data from SiiLA’s Market Analytics platform show that Brazil’s Northeast region is consolidating its position as the second most important hub for industrial properties in the country, surpassing the South. In the second quarter of 2025, the Northeast performed well across almost all key metrics, reaching a total stock of 3.09 million square meters.

The Northeast’s rise to second place among Brazil’s industrial markets had been underway for some time. The expansion of the logistics sector in the region has mirrored broader economic trends, including regional development, rising GDP, and growing population density.

In 2024, the Northeast’s GDP grew by 3.8%, outperforming the national average, with notable contributions from Paraíba and Rio Grande do Norte, according to Banco do Brasil’s Resenha Regional. SiiLA data shows the region recorded 180,000 m² of net absorption over the past 12 months—outpacing all other regions except the Southeast. Net...

Read more: Industrial Properties Market Enters New Phase as Built-to-Suit Projects Gain Momentum

New Tenants

The Northeast also registered the third-largest lease of the second quarter: Shopee took up 68,500 m² at Log Recife II. Over the course of the quarter, total gross absorption in the region reached 431,000 m², while vacancy fell from 11.14% in Q1 to 7.9% in Q2.

Even with only two quarters completed, the region has already set a new record for gross absorption. After a period of rising vacancy driven by new deliveries, the Northeast is now showing signs of tightening.

With new leases at Log Recife II, Syslog Recife, and Armazenna 5 Suape, Shopee was the region’s top occupier, accounting for 85,100 m². Next was Grupo Mateus, a local retail chain operating exclusively in the Northeast, with 54,100 m².

Regional Profile

Today, the leading occupiers in the Northeast are from the Transportation & Logistics sector, with 893,000 m², followed by the Consumer Goods segment — which includes e-commerce — with 862,000 m².

Among tenants, Amazon holds the largest footprint, occupying 203,000 m², followed by Mercado Livre (162,000 m²) and Shopee (152,000 m²). These three players alone represent about 60% of the Consumer Goods category.

Properties

This quarter, only one project was delivered: Log Recife II, a 68,500 m² Class A+ facility that was fully leased to Shopee.

Looking ahead, an additional 183,200 m² is expected to be delivered across the region, with 19.85% of that space already pre-leased.

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