Logistics market sets new absorption record and vacancy keeps falling | Q2 2026

The first half of 2026 recorded another milestone for the high-end logistics warehouse market in Brazil. The vacancy rate reached its lowest historical level at 5.5%, within a scenario of record absorption. A study conducted by JLL indicates that, during the period, accumulated gross absorption was 2.8 million sqm and net absorption was 2.1 million sqm. If we compare this with 2025, a year that registered the best historical leasing performance, this already represents 60% and 68% of those results, respectively.

André Romano, manager of the Industrial and Logistics Division at JLL, points out that the market is experiencing a moment of supply shortage. "This makes strategic assets more disputed, leading companies to need to plan their long-term moves and be agile in decision-making. Those who delay in choosing a lease have been losing opportunities," he reveals. By the end of 2026, an additional 2.7 million sqm are projected to be delivered, with 50% already arriving to the market pre-leased.

São Paulo continues as the protagonist of the warehouse market in Brazil. With a vacancy rate of 5%, below the national average and the lowest ever recorded, the state maintained its national leadership, concentrating 46% of net absorption in the country (446 thousand sqm). According to JLL research, Mercado Livre alone was responsible for 236 thousand sqm leased.

In parallel, two regional corridors appear to be expanding. Pernambuco and Santa Catarina show high leasing performance, ranking behind only São Paulo. In the quarter, net absorption was 140 thousand sqm and 113 thousand sqm, respectively. "States like Minas Gerais and Rio de Janeiro continue as important logistics hubs, but the rise of other locations shows that demand for quality spaces has become nationalized," evaluates Rafael Picerni, Research and Strategy analyst at JLL.