Despite the positive trend in sales, vacancy rates increased slightly across all mall classes tracked by SiiLA. This may be linked to portfolio restructuring and evolving tenant mixes, with greater emphasis on services and experiences.

Several major retailers have recently closed stores. For instance, UK-based The Body Shop announced its exit from Brazil, shuttering more than 20 locations in January. Late last year, Polishop also closed multiple stores as part of its court-supervised restructuring process.

Still, in some cases, vacant spaces are quickly being reoccupied. Porto Velho Shopping — one of the largest shopping centers in the state of Rondônia, managed by Ancar Ivanhoe — recently announced the closure of 10 stores while welcoming 16 new brands, signaling a portfolio refresh.

GROCS platform data also show that occupancy costs remain under control. GROCS, short for Gross Rent Occupancy Costs, is a key performance metric in global retail. It expresses, as a percentage, the total amount paid by tenants — including rent, common charges, and marketing fund contributions — relative to their sales over a given period.

SiiLA is the only company in Brazil to offer this metric in a structured and recurring format through its GROCS platform.

The latest figures indicate that costs remain sustainable for tenants: in Class A malls, the average occupancy cost is 7.43%; in Class B, 8.11%; and in Class C, 8.25%.

Subscribers to the GROCS platform have full access to updated and consolidated shopping center market data and insights to support strategic decision-making.