New Industrial Property by Barzel in Minas Gerais Secures Pre-Lease Tenant

The asset management firm Barzel Properties has announced a major milestone for its newest venture, the BRZ 040 Logistics Park. With delivery forecast for the end of this second semester, the property is poised to achieve an A+ rating and is strategically positioned in Minas Gerais, specifically within the municipality of Ribeirão das Neves. Representing a substantial investment of approximately R$ 280 million, this development will ultimately encompass an impressive total Gross Leasable Area (GLA) of 67,475 square meters.

The pioneering tenant set to become the first occupant of this cutting-edge complex is the Gtex Group, a prominent entity behind renowned cleaning and hygiene brands such as Urca and Cristal. Under the terms of a pre-lease agreement, the company will commandeer 10,000 square meters of space within the facility. Beyond its tenancy in Belo Horizonte, the São Paulo-based firm, established in 1973, maintains operations in multiple Brazilian states, including Rio de Janeiro, Pernambuco, Mato Grosso, and Paraná.

During the second quarter of 2023, the Metropolitan Region of Belo Horizonte, encompassing locales like Confins, Contagem, Belo Horizonte, Betim, and the host site of BRZ 040 Logistics Park, Ribeirão das Neves, recorded a strikingly low vacancy rate of 4.86% for high-standard industrial properties. These figures are sourced from the Market Analytics platform.

The unveiling event for this property saw the presence of SiiLA, which notably marks the debut development for Barzel Properties in the region. During the event, Giancarlo Nicastro, CEO of SiiLA, presented an insightful analysis of regional data, highlighting the pivotal role of location for assets of this nature. Explore the event highlights here.

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