According to SiiLA, a real estate market research company, in Brazil, the third quarter of 2023 witnessed the new stock of 609.9 thousand square meters, where of 268,123 square meters are at new industrial properties and 341,841 square meters in expansions of existing properties.

In total, there were 11 deliveries accounted for during this period, comprising six new assets and five expansions. This Brazilian portfolio expansion is spread across São Paulo, Minas Gerais, Alagoas, Bahia, and Ceará.

Based on these six new developments, SiiLA has compiled a ranking of the five largest industrial properties added to Brazil's inventory. Here are the top entries:

1 - Parque Logístico Guarulhos II

Leading the rankings in terms of delivery of logistics developments in the third quarter of 2023 is Parque Logístico Guarulhos II, boasting over 70,000 square meters of Gross Leasable Area (GLA). Situated in Guarulhos, this Class A+ complex is in close proximity to Guarulhos International Airport.

2 - Log Fortaleza III

In the second spot for the largest deliveries this quarter is Log Fortaleza III, a Class A+ facility occupying over 63 square meters, located in Ceará. This asset, the largest complex made available in the Northeast region during the third quarter, was delivered in September.

3 - WT Element Guarulhos

Ranked as the only Class B asset in the list of major deliveries for the third quarter of 2023 is WT Element Guarulhos. This facility encompasses over 44,000 square meters of GLA and is the second asset to be added to the inventory in the Guarulhos region during the same period. It was also delivered in September.

4 - Log Salvador

Log Salvador is situated in Bahia, offering over 44,000 square meters. This is an A+ property and it wass delivered in August.

5 - Log Maceió

In Alagoas, Log Maceió stands as the fifth largest asset delivered nationwide in the third quarter of 2023. It is a Class A+ complex covering 28,023 square meters and was delivered in July.

Expansions:

In addition to new developments, the third quarter also saw significant expansions. GLP Guarulhos II experienced an expansion of 246,402 square meters, while CITLOG Sul de Minas expanded by 57,481 square meters of GLA.

The complete list of all industrial developments delivered during this and other quarters is available on the exclusive platform for subscribers, Market Analytics.