High-end logistics condominiums market sets records in 2021 4Q|2021

Net and gross absorptions mark the best historical results.

February 16, 2022

The year 2021 registered record positive absorption rates in the high-end logistics condominiums market. Gross absorption was 3.2 million m² and net absorption reached 2.2 million m². The scenario heated by high business volume pushed down the vacancy rate by 3.18 p.p. compared to 2020, closing the year at 11.11%, according to the First Look.

Even with the high volume of new stock that entered the market - 1.9 million m² -, the average asking price in Brazil was 9.57 p.p. above the previous year. This movement is the result of the sum of the increase in demand and the cost of construction inputs. São Paulo, which accounts for 56% of Brazil's logistics condominiums, grew above the national value.

“Negotiations have been increasingly tight in São Paulo, with a variation of only 9.2% between the asking price and the actual one. This is the smallest difference since 2013, when we started monitoring”, reveals André Romano, manager of the Industrial and Logistics Division at JLL.

2022 - hot market and new stock

Approximately 2.9 million m² should enter the inventory of logistics condominiums in Brazil in 2022, most of them in the first half of the year. Of the total, 66% of the volume is concentrated in São Paulo and 18% in Minas Gerais. The perspective is that the pace of business remains high, causing the vacancy rate to have a slight increase, reaching 13.01%. “The expectation is that it will be a positive year, with major negotiations and an upward trend in rental prices”, concludes Romano.

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