Chinese e-commerce giant Shopee emerged as the standout leader in the ranking of largest tenants in the first quarter of 2024. Market Analytics data shows that in the first quarter, the retailer's physical footprint expanded by 18.4% in Class A+, A, and B industrial properties. The last 12 months, this growth has been a staggering 107%.

With assets in Ceará, Rio de Janeiro, and São Paulo, the retailer now occupies 42,000 m², according to SiiLA data monitoring. The company demonstrates consistent quarterly growth; historical analysis reveals that Shopee has recorded 10 months of positive absorptions.

The properties in question include CLE Embu, where over 4,000 m² were leased. Additionally, there was a small lease of just over 1,000 m² at Varilog Cidade do Atacado, and the largest absorption was 36,000 m² at GLP Campo Grande.

In addition to these assets monitored by SiiLA, Shopee has also leased some standalone warehouses to serve as its local distribution centers, such as the asset in the metropolitan area of Goiânia, Goiás, and another in Palmas, Tocantins.

In a statement to REsource, the company stated: "With the aim of further enhancing the experience of our users, Shopee has been intensifying and expanding its logistics network in the country to meet the growing demand for orders from Brazilian sellers, who currently represent 90% of the platform's sales."

The retailer confirmed it has 11 distribution centers and over 100 logistics hubs across the country—locations dedicated to products from these local sellers. The company also emphasized that this entire operation relies on over 20,000 drivers from logistics partners, over 2,000 pick-up/drop-off points, and approximately 250 regional points with logistics partners, which the company refers to as XPTs.

SiiLA-monitored data reveals that Shopee has a presence in 234,000 m² of Class A+, A, and B industrial properties (excluding standalone warehouses and Class C).