High-standard cooperative warehouse market has record absorption | 4Q 2020

Driven by the e-commerce sector, the sector's vacancy rate is the lowest since 2013.

February 19, 2021

The vacancy rate of high-end logistics condominiums in Brazil ended 2020 at 14.3%, according to a First Look survey conducted by JLL. The index is the lowest recorded since 2013, when the study began. Gross and net absorption volumes also hit a record, having accumulated 2.5 million m² and 1.5 million m² in the year, respectively.

Even with the State of São Paulo driving the market in the last quarter, with around 75% of absorption, 2020 was a year with significant movements in other markets. Rio de Janeiro and Minas Gerais received large volumes of leases during the year in the regions of Duque de Caxias (232 thousand m²) and Extrema (75 thousand m²), respectively.

With a new inventory of 1.1 million m², 2020 surpassed 2019 both in volume delivered and in the percentage of pre-leased area (51.5%), contributing to the absorption record and, consequently, to the drop in the vacancy. For 2021, a year with many deliveries is projected, especially in regions such as Cajamar and Guarulhos, where greater competition for high-standard areas is expected.

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