Pre-Leases and Rentals Heat Up the Industrial Properties Sector in 3Q23

The SiiLA research team tracks leasing and pre-leasing activities within commercial properties nationwide. In this third quarter of 2023, SiiLA's monitoring already reveals leasing uptake in logistics developments across various Brazilian states.

A notable lease during this period occurred at the HGLG Itupeva – Block II industrial property, secured by PostAll Log, a player in the transportation and logistics sector. The company is set to occupy 4 modules within the asset, totaling 29,000 square meters of gross leasable area (GLA).

Situated in Itupeva (SP), the property was completed in 2015 and currently boasts an occupancy rate exceeding 82%.

The Urban Hub Mauá, scheduled for delivery this September, has already secured a pre-lease agreement, with the identity of the future tenant kept confidential. The development will encompass nearly 49,000 square meters of GLA and is strategically located in the Grande ABC region of São Paulo.

Alianza Investimentos, a management firm established in 2011, is overseeing the development and has partnered with Paulo Bio to manage the project's commercialization. As per the companies, the Urban Hub Mauá complex is already 30% leased.

"The region stands out with one of the lowest vacancy rates in São Paulo. We're extremely pleased with the initial results and excited to fully tap into this project's potential," stated Mauricius Bio, Director of Paulo Bio. According to Bio, the focus for leasing the remaining spaces lies on transportation and logistics companies, alongside light industry players.

The Grande ABC region is included in SiiLA's monitoring of logistics complexes. For insights, refer to this content from February about the regional market and asset performance.

Modular Santa Cruz: A new development in Rio de Janeiro attains 100% occupancy

Another recent lease has been finalized at the Modular Santa Cruz in Rio de Janeiro. The asset is now fully leased by a transportation and logistics company, which is set to provide services to an entity in the Food, Beverage, and Tobacco sector.

Spanning 27,416 square meters of GLA, this premium asset was completed in Q1 2023. Recently, the REsource editorial team conducted an exclusive interview with Steven Shieh, Real Estate Portfolio Manager at BV Asset, delving into the delivery and distinct features of the asset. Learn more here.

A Dynamic Quarter for the Industrial Properties Market

These examples provide a snapshot of the dynamic activities identified and verified thus far, indicating a robust quarter for industrial properties absorptions. Just recently, we reported another pre-leasing contract at BRZ0 40 Logistic Park, developed by Barzel Properties.