Demand indicators were stronger than in the previous quarter, but slightly below the same period in 2022. Nevertheless, the numbers are promising, with net absorption for the year totaling 944 thousand sqm and gross absorption 1.4 million sqm.
The inventory of high-end industrial and logistics warehouses increased by 382 thousand sqm, making it the quarter with the largest volume of new deliveries. However, year-to-date new deliveries are 35% below the same period last year, suggesting that construction activity is slowing down in Sao Paulo.
Download Sao Paulo Industrial Market Report Q3 2023