Minas Gerais Industrial Properties Market Gains Momentum and Attracts Operators to New Regions

Vacancy rate drops to 6.9%, boosting activity in areas like Juiz de Fora
Minas Gerais solidifies national relevance with second-largest logistics inventory in Brazil

Thiago Procópio, owner of Brasil Log, a standout property in Juiz de Fora

By: SiiLA News

05/15/2025

With a total industrial properties inventory exceeding 3 million m² and a vacancy rate of 6.9% at the end of Q1 2025, Minas Gerais is emerging as one of Brazil’s most important markets for industrial properties. Data from SiiLA’s Market Analytics shows that the state holds the country’s second-largest stock, behind only São Paulo.

Since 2017, Minas has seen continuous growth in new industrial properties deliveries. The years 2022 and 2024 marked the peak of development, with 475,000 m² and 514,000 m² delivered, respectively.

Even without new completions in Q1 2025, the state posted strong performance: gross absorption reached 189,000 m², while net absorption totaled 176,000 m². This activity drove vacancy down by six percentage points, from 12.7% to 6.9%.

According to SiiLA’s market intelligence team, the current average asking rent in Minas Gerais for Class A+, A, and B assets stands at R$ 23.23/m².

Key Regions

Disclosure

Extrema, near the São Paulo border, remains the state’s primary logistics hub. It alone concentrates more than 1.2 million m² of space, with a vacancy rate of just 3.8%. The area posted 106,000 m² of net absorption in the quarter, reflecting sustained demand from companies seeking assets close to Southeast Brazil’s main consumer markets.

Greater Belo Horizonte, with 1.3 million m² of stock and a vacancy rate of 11.2%, recorded 70,000 m² of net absorption. The Triângulo Mineiro (138,000 m²) and Varginha (186,900 m²) both reported full occupancy.

Other areas, like Juiz de Fora and Pouso Alegre, show limited availability.

The last available square meters in Juiz de Fora are located at Brasil Log. The area stands out for its tenant diversity — including transport, food, and consumer goods — and its strategic position between the São Paulo and Rio de Janeiro corridors.

Want to explore Brasil Log in detail? Visit the property’s page on SPOT to access complete asset information, check availabilities, and contact the property representative directly.

Leasing Activity

Logistics providers and retailers continue expanding operations across Minas Gerais, drawn by the state’s strategic location between Brazil’s Southeast and Northeast regions. A presence in Minas enables more efficient distribution across several states while reducing logistics costs.

ID Logistics led new leasing activity with 65,500 m² of space absorbed.

Currently, the largest tenant in Minas Gerais is Mercado Livre, with 235,500 m². It is followed by ID Logistics with 133,400 m², and DHL with 110,200 m².

Looking for logistics assets in Minas or anywhere in Brazil? On SiiLA SPOT, you’ll find full property details, photos, videos, and can schedule visits directly with representatives — all in one platform. Visit: spot.siila.com.br

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