Logistics condominium market continues to grow and maintains optimism | 1Q 2021
Vacancy rate was down 0.38 p.p. in relation to the previous quarter.
The market for logistics condominiums continued to grow in the first quarter of 2021. According to JLL's First Look study, gross absorption was 625 thousand m² and the volume of deliveries was close to that recorded in the previous period. Vacancy was 13.91%, 0.38 p.p. lower compared to the previous quarter.
The constant drop in the vacancy rate contributed to the increase in the average asking price. The growth in value ended up driven by deliveries made with pre-leases, Built-to-Suit projects and major expansions in some segments, mainly retail and e-commerce.
The projections for the remainder of the year are an accumulated 2.5 million m² handled in the logistics market, a consequence of the good results presented in previous periods and of new businesses already known.