São Paulo
The industrial and logistics condominium market in the state of São Paulo had a satisfactory performance in the 2nd quarter of 2023. The total stock experienced a slight decrease to 17.1 million square meters, with 66,000 square meters representing new delivered developments. Additionally, the vacancy rate dropped to 10.17%, accounting for 1.79 million square meters of vacant spaces available for lease. With a decline in construction activity to 2.15 million square meters, demand also decreased, and the gross absorption fell to 545,000 square meters. As for investors to consider, the average asking rent prices decreased to R$ 23.69 per square meter per month.
The Class A industrial and logistics condominiums showed a positive net absorption of 319,000 square meters and a vacancy rate that decreased to 10.60%. On the other hand, the Class Other industrial condominiums performed well, with a positive net absorption of 37,000 square meters and a decline in the vacancy rate, now standing at 8.92%.
Occupancy, vacancy rate, construction activity and new stock
Industrial and Logistical condominiums (Class A and Others)
Net Absorption and Vacancy Rate
Warehouse condominiums
Ocupantes’ methodology for classifying Logistical Condominiums can be summarized as follows: “Class A” Condominiums: warehouses with high technical specifications. “Other Class”: warehouses with lower technical specifications.
Rio de Janeiro
In the second quarter of 2023, the industrial and logistics condominium market in the State of Rio de Janeiro experienced some fluctuations. There was a slight decrease in the total stock, and the vacancy rate also dropped, reaching 17.68%, resulting in 509,000 square meters of vacant spaces. On the other hand, gross absorption increased compared to the previous quarter, reaching 70,000 square meters. Construction activity remained at 92,000 square meters, and the average asking rent prices decreased, closing at R$ 20.67 per square meter per month.
The Class Other industrial condominiums showed a positive net absorption of 1,100 square meters and a reduction in the vacancy rate, ending the quarter at 21.14%. As for the Class A industrial and logistics condominiums, there was a decrease in the vacancy rate, reaching 17.41%, and they presented a positive net absorption of 53,000 square meters.
Occupancy, vacancy rate, construction activity e new stock
Industrial and Logistical condominiums (Class A and Others)
Net Absorption and Vacancy Rate
Warehouse condominiums
Past trends should not be taken as indicative of future results. Ocupantes is not responsible for decisions taken based on this information.
