São Paulo
In the first quarter of 2025, the industrial and logistics condominium market in the State of São Paulo showed notable progress. Total inventory expanded to 19.51 million m², reflecting strong growth. At the same time, there was an increase in construction activity, which reached 2.34 million m² under construction. The vacancy rate fell to 8.42%, signaling a greater occupation of available spaces. In absolute terms, this corresponds to 1.64 million m² still unoccupied. Compared to the previous quarter, the new inventory was 36 thousand m², lower than the previous quarter.
Absorption indicators also moved. Gross absorption decreased to 397 thousand m², and net absorption decreased to 75 thousand m². The average asking rental price increased, reaching R$ 27.93/m² per month.
In Class A condominiums, there was a decrease in net absorption to 74 thousand m², together with a reduction in the vacancy rate to 8.82%. On the other hand, in Class Others condominiums, net absorption decreased to 1 thousand m², and the vacancy rate increased to 6.91%.
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 first quarter of 2025 brought significant changes to the industrial and logistics condominium market in the state of Rio de Janeiro. Total inventory remained at 3.05 million m². Construction activity also stabilized at 133,000 m² under construction. The vacancy rate decreased, now at 10.45%, which corresponds to approximately 319,000 m² of space still available. The quarter closed with the delivery of 0 m² of new inventory.
Gross absorption fell significantly, reaching 97,000 m², and net absorption also fell, reaching 12,000 m². Regarding prices, there was an increase in average asking rental prices, which rose to R$23.10/m² per month.
Class A condominiums showed a decrease in net absorption, reaching 14,000 m², and the vacancy rate in this segment fell to 9.72%. On the other hand, the Other Class condominiums presented a negative net absorption of 1,710 m² and a vacancy rate of 21.63%.
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.
