The Brazilian industrial property market witnessed remarkable growth throughout the second quarter of 2023, with new high-end developments being added to the national inventory, which now exceeds 23.6 million square meters. Notably, one of the deliveries in São Paulo took place in the Grande ABC region, in close proximity to the state capital, and it grabbed everyone's attention: this new development was fully leased even before completion.

The spotlight shines on MBigucci Business Park Santo André, developed by MBigucci, which successfully leased out its first phase of 4,000 square meters to companies like SIM Lubrificantes in the vehicle and parts sector, Universo Parts in import and export, and Imile Delivery Brazil in the services industry.

The vacancy rate in the Grande ABC region, where the asset is situated, experienced a significant drop, closing at 3.2%. The data is provided by SiiLA's Market Analytics platform, considering Classes A+, A, and B properties.

According to MBigucci, the project is backed by an investment of R$ 300 million, and following this quarter's delivery, the company is already in the process of an expansion, with an additional 15,000 square meters scheduled to be completed by August 2024.

Furthermore, the project outlines plans for developing new warehouses in the upcoming years. Upon completion, the asset, whose inception was previously reported in REsource, will encompass a total constructed area of 64,861 square meters, housing approximately 37 warehouses.