São Paulo
The industrial and logistics condominium market in the State of São Paulo showed an increase in total stock, reaching 18.94 million m² in the 2nd quarter of 2024. Construction activity also grew, reaching 1.63 million m². The vacancy rate fell to 9.69%, equivalent to 1.83 million unoccupied m². The new stock increased compared to the 1st quarter of 2024, totaling 317 thousand m².
In terms of absorption, both gross and net absorption registered increases, with gross absorption reaching 884 thousand m² and net absorption reaching 545 thousand m². The average rental asking price fell to R$25.42/m² per month.
Specifically for Class A industrial and logistics condominiums, net absorption rose to 498 thousand m², while the vacancy rate fell to 10.14%. For Class Others industrial and logistics condominiums, net absorption increased to 47 thousand m², with a reduction in the vacancy rate to 8.16%.
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 Logistics Condominiums can be summarized as follows:
“Class A” condominiums: Warehouses with high technical specifications | “Other Class” Condominiums: Warehouses with lower technical specifications.
Rio de Janeiro
The industrial and logistics condominium market in the state of Rio de Janeiro kept its total stock stable at 2.90 million m² for the 4th consecutive quarter in the 2nd quarter of 2024. Construction activity also remained unchanged, with 221 thousand m² for the 3rd consecutive quarter . The most significant drop was observed in the vacancy rate, which fell to 13.82%, corresponding to 401 thousand unoccupied m².
Gross absorption increased to 87 thousand m² compared to the 1st quarter of 2024, while net absorption increased to 44 thousand m². Consequently, the average asking rental price decreased to R$21.00/m² per month.
Specifically analyzing Class A industrial and logistics condominiums, net absorption increased to 44 thousand m² in the 2nd quarter of 2024, contributing to the reduction of the vacancy rate to 13.41%. In Class Others industrial and logistics condominiums, net absorption also grew, reaching 317 m², resulting in a drop in the vacancy rate to 19.33%.
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
It is important to highlight that past trends do not guarantee future results. Ocupantes does not assume responsibility for decisions made based on this information.
The information presented in this document is updated based on the publication date and may undergo changes until the next edition.
