Industrial market has the lowest vacancy in seven years | 4Q 2019
Results improved in 16 Brazilian states in 2019.
The market for logistical condominiums closed 2019 with growth in 16 Brazilian states and the lowest vacancy rate in the last seven years, down 3.8 pp compared to 2018. Also compared to the previous year, there was an increase of 68% in the volume of pre-leased delivered inventories. This factor contributed to a drop of 6.7 p.p in the vacancy rate in the last two years. The data are from the First Look report, carried out by JLL.
In the fourth quarter of 2019, 595 thousand m² were absorbed, totaling 2.4 million m² negotiated throughout the year. The State of São Paulo remained as the main market, with 385 thousand m² leased on average per quarter. Minas Gerais and Rio Grande do Sul presented relevant numbers, with a volume of 150 thousand m² and 90 thousand m² respectively in 2019. The Northeast region also had a positive performance, with 201 thousand m² negotiated, that is, 25% more than the accumulated in the last year.
The volume of new inventory in the last quarter corresponds to 38% of the total delivered in the year. 312 thousand m² were delivered, distributed in five states (SE, MG, ES, SP and RS), 43% of which is already leased. The LOG Extrema property, in Minas Gerais, was the largest delivery of the period, with a 77,000 m² BTS (Built to Suit) for the Dafiti Group. In São Paulo, the regions of Jundiaí (58 thousand m²) and Guarulhos (71 thousand m²) received new inventories.