São Paulo
In the 3rd quarter of 2023, the industrial and logistics condominium market in the state of São Paulo demonstrated an impactful performance for the market. The total stock grew, reaching 17.71 million m², with 387 thousand m² corresponding to new developments delivered. The vacancy rate remained stable at 10.17%, which is equivalent to 1.80 million m² of space available for rent. Although there was a reduction in construction activity, with a total of 1.85 million m², demand has increased, resulting in a gross absorption of 597 thousand m². It is important to note that the average asking price rose to R$ 24.42/m² per month.
In the Class A industrial and logistics condominium segment, net absorption was positive, totaling 308 thousand m², while the vacancy rate increased slightly to 10.71%. On the other hand, Class Others industrial condominiums performed well, with a positive net absorption of 32 thousand m² and a reduction in the vacancy rate, which is now at 8.47%.
Occupancy, Vacancy Rate, New Stock and Construction Activity
Industrial and Logistical Condominiums (Class A and Others)
Net Absorption and Vacancy Rate
Industrial and Logistical 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 3rd quarter of 2023, the industrial and logistics condominium market in the State of Rio de Janeiro showed some notable fluctuations. Although there was an increase in total stock to 2.90 million m², the vacancy rate fell to 17.64%, resulting in 511 thousand m² of available space. Furthermore, gross absorption experienced an increase compared to the previous quarter, reaching 120 thousand m². Construction activity also had a significant increase, reaching 197 thousand m², and the average asking price also increased, closing at R$ 20.98/m² per month.
In the Class Others industrial condominiums segment, there was a positive net absorption of 840 m² and a reduction in the vacancy rate, ending the quarter at 20.73%. On the other hand, the Class A industrial and logistics condominium market had a slight increase in its vacancy rate, closing the quarter at 17.41% and presenting a positive net absorption of 16 thousand m².
Occupancy, Vacancy Rate, New Stock and Construction Activity
Industrial and Logistical Condominiums (Class A and Others)
Net Absorption and Vacancy Rate
Industrial and Logistical Condominiums
Past trends should not be taken as indicative of future results. Ocupantes is not responsible for decisions taken based on this information.
