Unilever Expands Logistics Operations with the Lease of 43,000 m² at Citilog Viracopos: Full Transaction Details

The lease was revealed after Hedge announced that 100% of one of its properties had been leased
Jundiaí, the region where the property is located, was one of the areas that suffered the most from tenant exits in the last quarter

João Francisco Ribeiro, Vice President of Business Operations & Head of Customer Operations Latin America at Unilever

By: SiiLA News

09/25/2024

On Monday (23), Hedge announced that the entire available area of Citilog Viracopos has been leased, totaling over 43 thousand m² of gross leasable area (GLA). Although the official document did not disclose the name of the tenant, the SiiLA team identified that the tenant is Unilever.

The transaction includes the lease of the entire Warehouse B, whole modules B7, B8, B9, B10, and B11, along with part of modules B5 and B6. These leases represent 31% of Citilog Viracopos and 20.13% of the GLA of the HLOG11 fund.

The contract was signed for a term of 60 months, ending in September 2029, at a rental rate of R$ 21.32/m². Subscribers to the Market Analytics platform can access complete information about the transaction, including the grace period.

As of the closing of this report, neither Unilever nor Hedge had commented on the matter.

Citilog Viracopos

Source: Market Analytics

Citilog Viracopos is a Class A+ facility delivered in 2021, with 138,000 m² of GLA. By the end of Q2 2024, the property had an occupancy rate of 44%.

In this third quarter, in addition to the Unilever lease, which raised the occupancy rate to 100%, the property also saw an expansion from Belenus and, in second quarter, a partial exit of Coopercarga for 38,000 m², which were taken over by the new tenant.

Mercado Livre rounds out the list of tenants in the property, occupying 10,000 m².

Citilog Viracopos

The Jundiaí region has a vacancy rate of 11.7% and a stock of 2 million m². In the second quarter, the region experienced the highest negative net absorption during the period, with a total of 39,000 m² in the negative, solely in Class A+ and A properties.

Unilever

Unilever already occupies 96,000 m² in monitored industrial properties managed by SiiLA, distributed across GLP Louveira I, Cone Multimodal, and Condomínio Logístico Sindi Investimentos.

In terms of office space, the company's occupancy is concentrated in WTorre Morumbi, both in A and B tower.

The company owns brands such as Omo, Hellmann’s, Dove, Knorr, among many others—overall, Unilever has 24 companies across segments like personal care, beauty and wellness, ice cream, and general food.

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