Business · Companies · 5 hrs ago
Industrial warehouse vacancy in Brazil falls to a record low
Brazil’s high-grade industrial warehouse vacancy fell to 4.9% in the third quarter of 2026, its lowest level, according to property consultant JLL.
Companies are signing leases early as they anticipate possible tax changes after the elections and further increases in property costs.
Strong competition for warehouses in central locations is also reducing available space and lifting rents.
Asking rents rose 16% from the previous quarter, and 80% of warehouse space delivered during the quarter was already occupied.
Online retailers Mercado Livre and Shopee accounted for 42% of the quarter’s net warehouse take-up, helping drive demand.
São Paulo holds nearly half of Brazil’s warehouse stock, while Santa Catarina is attracting manufacturers with tax incentives, ports and skilled workers.
JLL expects more warehouse space to be delivered in the coming half-years, but says prices have been rising each quarter.
Brazil’s vacancy rate for high-standard industrial warehouses fell to a record-low 4.9% in the third quarter of 2026, according to JLL.
JLL says companies brought forward lease signings ahead of possible changes linked to the elections and tax reform.
Competition for space in central regions also contributed to lower vacancy and higher asking rents.
The average asking price rose 16% from the previous quarter to R$35.2 thousand per square metre.
Retail and e-commerce companies led warehouse leasing, with Mercado Livre and Shopee accounting for 42% of quarterly net absorption.
- Who
- JLL reported the figures. Companies including Mercado Livre and Shopee led leasing.
- What
- Brazil’s high-standard industrial warehouse vacancy rate fell to a record low of 4.9%.
- When
- In the third quarter of 2026.
- Where
- Brazil.
- Why
- Companies brought forward lease signings amid possible changes linked to the elections and tax reform. Competition for space in central regions also contributed.
This story does not have two clearly opposing sides.
Brazil’s high-standard industrial warehouse vacancy rate reached 4.9%, a record low.
Of the warehouse stock delivered during the quarter, 80% was already occupied.
Shopee added 600,000 square metres of warehouse space.
- National vacancy
- 4.9% in the third quarter of 2026
- Average asking price
- R$35.2 thousand per square metre
- Quarterly price increase
- 16%
- Total market stock
- 40,202,545 square metres
- São Paulo share of national stock
- 49.9%
- Quarterly absorption share
- Mercado Livre 30%; Shopee 12%
What people are saying
a sign of market maturation
Each quarter it seems we have reached a new peak
Santa Catarina has become a refuge for industry
If we removed the two companies, perhaps we would not be talking about a record