São Paulo
In the third quarter of 2025, the industrial and logistics condominium market in the State of São Paulo showed remarkable progress. Total inventory expanded to 20.70 million m², reflecting strong growth. Construction activity increased, with 2.25 million m² under construction. The vacancy rate fell to 7.81%. In absolute terms, this corresponds to 1.61 million m² still unoccupied. Compared to the previous quarter, new inventory was 264,000 m², lower than the previous quarter.
Absorption indicators also improved. Gross absorption decreased to 660,000 m², and net absorption also decreased, reaching 434,000 m². The average asking rental price increased, reaching R$30.09/m² per month.
In Class A condominiums, net absorption fell to 396,000 m², along with a decline in the vacancy rate to 8.20%. Meanwhile, in Class Other condominiums, net absorption increased to 37,000 m², and the vacancy rate fell to 6.33%.
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
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 third quarter of 2025 brought significant transformations to the industrial and logistics condominium market in the state of Rio de Janeiro. Total inventory remained at 3.07 million m². Construction activity also stabilized, with 124,000 m² under construction. The vacancy rate increased, now at 11.32%, corresponding to approximately 347,000 m² of space still available. No new inventory was delivered this quarter.
Gross absorption fell to 24,000 m², and net absorption also fell, reaching -19,000 m². Regarding prices, there was an increase in average asking rental prices, which rose to R$25.36/m² per month.
Class A condominiums showed a significant decrease in net absorption, reaching -22,000 m², and the vacancy rate in this segment rose to 10.72%. On the other hand, the Other Class condominiums showed a net absorption of 3 thousand m² and a vacancy rate of 22.05%.
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.
