Industrial market registers record 3 million sqm of new inventory | Q4 2025

The industrial market in Brazil ended 2025 maintaining a strong level of activity, with a national vacancy rate of 7.7%, the lowest rate ever recorded in the historical series. The country recorded a record 3 million sqm of new inventory, according to the First Look survey conducted by JLL. The average price reached BRL 30.7/sqm, representing a 7.8% increase in one year.

In 2025, 81 industrial parks were delivered, spread across 19 Brazilian states, demonstrating the geographical diversity of investments. Of the total, 39 projects were expansions of existing properties and 42 were in new locations. “This reflects an increasingly common strategy among investors: investing in the phased development of projects,” reveals André Romano, manager of JLL’s Industrial and Logistics Division.

“The record volume of deliveries, combined with a vacancy rate of 7.7%, are signs of a well-structured and balanced market, with supply being absorbed consistently as new products become part of the inventory,” says the executive. 

São Paulo state accounted for approximately 1.5 million sqm of new developments, equivalent to approximately 50% of all new inventory delivered in Brazil in 2025. With an average rental price above the national index (BRL 34.5/sqm), it maintained a rapid pace of growth and remained the main hub for large logistics operations.

Among the highlights of the fourth quarter was the lease signed by TK Logística, a company linked to the Toyota Group of Brazil, which leased 102,000 sqm in the Sorocaba region. "São Paulo's performance reflects not only the volume of investments, but also the quality of demand, with increasingly larger and more strategic operations. This means that the price of some assets reaches, for example, BRL 45/sqm due to their privileged location," points out Rafael Picerni, from JLL.

Retail and e-commerce remain among the main drivers of demand. Mercado Livre and Shopee appeared next among the largest occupancies in the period, reinforcing the continuity of investments in distribution centers in the country. “With different strategies — one focused on large logistics hubs and the other betting on greater diversification of locations — both continue to invest to ensure speed and efficiency in serving the end consumer,” points out André Romano.

By 2026, the market is expected to maintain the pace observed in 2025, with new deliveries and absorption of logistics condominiums in various regions of Brazil. The combination of structural demand, e-commerce expansion, reorganization of production chains, and regionalization strategies should sustain the sector's strong performance.

“Even with the continuity of deliveries, the trend is for an active market, with good trading volume and vacancy rates at healthy levels,” says Picerni. “The logistics warehouse market in Brazil continues to show maturity, with investment and occupancy decisions increasingly strategic and aligned in the long term,” concludes André Romano.