São Paulo’s Industrial Properties Market Hits Record Gross Absorption in Q2

With 817,000 m² leased, historic performance driven by e-commerce and supply chain reorganization; vacancy rises slightly but remains low

Damian Seltzer, Country Manager at Bridgestone Brazil

By: SiiLA News

07/15/2025

São Paulo remains the largest industrial properties in Brazil, with a total stock of 13.2 million m² in Class A and A+ asstes. In the second quarter of 2025, the sector broke new records once again: gross absorption reached 817,000 m² — the highest volume ever recorded in a single quarter.

In addition to strong demand, the quarter also saw 515,000 m² of new deliveries — the highest level of new stock since Q3 2023. As a direct result of this supply growth, the vacancy rate closed the quarter at 9.83%, up 0.69 percentage points from the previous quarter.

Despite the increase, the rate remains below the historical average of the last decade, signaling that most of the newly delivered space continues to be absorbed at a steady pace.

By: SiiLA

Net absorption — which accounts for move-outs and represents actual occupancy — totaled 378,000 m², the best performance since Q2 2023. The H1 total has already reached 502,000 m². This result is supported by factors such as the consolidation of e-commerce and the reorganization of supply chains. A prime example is Bridgestone, which expanded its operations by leasing 116,400 m² at Golgi Mauá II.

Mercado Livre was the second-largest individual tenant, leasing 105,000 m² at Bricklog Guarulhos. The company also took another 25,000 m² at Centro Logístico Dutra, totaling 130,000 m² and leading the ranking of top occupiers for the quarter.

Deliveries

Two deliveries surpassed 100,000 m² during the quarter: Bricklog Guarulhos, leased by Mercado Livre, and DVR Business Park Porto Feliz, with 102,600 m² in the Sorocaba region.

Guarulhos stood out for new stock additions. In addition to Bricklog, the city received Klog Guarulhos (98,000 m²) and Guarulhos Business Park (22,000 m²), solidifying its position as the leading hub for new supply this quarter.

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