Shopee and Mercado Livre are heavily investing in the expansion of their operations. The Chinese retailer Shopee is occupying the newly inaugurated GLP Bandeirantes, while the Argentine retailer Mercado Livre is in GLP Guarulhos II. Together, these two operations total 180,000 m² in industrial warehouse leases.

Located in Franco da Rocha, São Paulo, and in the Cajamar region, GLP Bandeirantes received its first lease in the second quarter of 2024. Shopee is now occupying 69,000 m² of the A+ class property.

This lease marks the 11th consecutive quarter of physical expansion for Shopee. In the previous quarter, the retailer ranked first among the largest absorptions, leasing 42,000 m² divided into three properties.

Additionally, Shopee announced the opening of another logistics hub, this time in Garanhuns, Pernambuco. The company now has 11 distribution centers located in the states of São Paulo, Rio de Janeiro, Paraná, Minas Gerais, Bahia, Pernambuco, Goiás, and Rio Grande do Sul, and over 100 last-mile hubs.

Located in the city of Guarulhos, GLP Guarulhos II was leased by Mercado Livre, also in the second quarter of 2024. The 111,000 m² lease is in Building H and occupies 12 modules of the A+ property.

Prior to this, Mercado Livre occupied 50,000 m² in the same property in 2021. Overall, the Argentine retailer occupies 1,230,446 m² in A+, A, and B class industrial properties monitored by SiiLA, with 1 million m² in A+ class assets alone.

As of the closure of this report, neither Shopee nor Mercado Livre have commented on the matter.