Despite the cultural and geographical proximity of some Latin American countries, the industrial assets markets showcase distinct scenarios. Brazil, Colombia, and Mexico, nations under the scrutiny of SiiLA, exhibit unique characteristics and shared traits in this sector.

The largest Latin American players, Brazil and Mexico, feature similar data points analyzed and accessible on SiiLA's Market Analytics platform. For instance, both territories demonstrated stability in the vacancy rate throughout 2023.

As per the latest data from the platform, the average vacancy rate for monitored industrial properties in Brazil is 9.80% for classes A+, A, and B. In the second quarter of 2023, it stood at 9.35%, and in the first quarter, it was 9.81%. In Mexico, the most recent average was 1.92% in 3Q23, 1.88% in 2Q23, and 1.96% in 1Q23.

Despite the Mexican vacancy rate being lower than in Brazil, the market sizes differ significantly. Brazil's monitored industrial inventory is around 24 million square meters, while Mexico's analysis encompasses 84 million square meters, considering logistics warehouses, BTS properties, standalone assets, and factories.

In the Hispanic country, industrial product companies constitute the major tenants, accounting for 55.3%. Conversely, in Brazil, consumer goods companies take the lead, representing 33% of the market.