Positive net absorption keeps vacancy rate below 10% for fourth consecutive quarter | Q1 2024
The industrial market has been controlled in recent quarters.
The Brazilian market for logistics warehouses continues to grow. According to First Look survey, the first quarter of 2024 recorded a vacancy rate of 9.8%. This is the fourth consecutive period in which the index has remained below 10%. At the same time, the average rental price increased by 7.4% in the last year.
André Romano, JLL's Industrial and Logistics Manager, emphasizes that this is an expected trend. "We have been seeing month-to-month increases in new stock deliveries, with increasing levels of modernity and adherence to sustainability parameters, all of which add value to the developments", he evaluates. Warehouses certified as green buildings have an average vacancy rate of 6.4% and command 16% higher average rental values. In São Paulo, this percentage is even higher, reaching up to 20%.
