São Paulo
In the 3rd quarter of 2024, the industrial and logistics condominium market in the State of São Paulo demonstrated significant evolution. The total stock reached 18.97 million m². Concurrently, an increase in construction activity was observed, reaching 1.83 million m². There was also a reduction in the vacancy rate to 8.46%, indicating greater occupation of available spaces. In absolute numbers, this represents 1.60 million m² still unoccupied. Regarding new stock, there was a decrease compared to the previous quarter, totaling only 23,000 m².
Absorption metrics showed a downward trend. Gross absorption stood at 530,000 m², while net absorption reached 282,000 m². The average asking rental price rose to R$ 26.20/m² per month.
Class A condominiums experienced a reduction in net absorption to 255,000 m², accompanied by a drop in the vacancy rate to 8.82%. As for Other Class condominiums, net absorption decreased to 27,000 m², with the vacancy rate falling to 7.28%.
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 3rd quarter of 2024 brought significant changes to the industrial and logistics condominium market in the state of Rio de Janeiro. The total stock reached 2.90 million m². This growth marks the end of a four-quarter cycle without changes. We also saw an increase in construction activity, which reached 292,970 m². Despite the increase in stock and construction activity, the vacancy rate showed a slight decrease to 13.79%. This translates to approximately 400,000 m² of space still available. The quarter was also marked by the delivery of 8,000 m² of new stock.
Gross absorption recorded a decrease, totaling 61,000 m², while net absorption decreased to 9,991 m². Despite the reduction in absorption, there was an increase in average rental prices, which reached R$ 22.06/m² per month.
Class A condominiums experienced a decrease in net absorption, which fell to 11,000 m². This did not prevent a reduction in the vacancy rate for this segment, which fell to 13.32%. Other Class condominiums, however, faced more significant challenges. The negative net absorption of 1,555 m² in this segment resulted in an increase in the vacancy rate to 20.02%.
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.
