Brazil's Logistics Real Estate Hits Record High with Shopee Leasing 220,000 Sq M Mega-Warehouse

On March 6, Brazilian logistics real estate firm Marq (formerly GLP) signed the largest warehouse lease agreement in the country's history, leasing an under-construction mega-warehouse in Guarulhos, S?o Paulo, to e-commerce platform Shopee. The facility spans 220,000 square meters (approximately 2.4 million square feet) and is expected to be delivered within the year. The deal highlights strong demand for logistics infrastructure driven by Brazil's rapidly growing e-commerce sector. Warehouse vacancy rates in the S?o Paulo area have fallen to just 8%, while rents continue to rise. Shopee now operates 16 logistics centers in Brazil, and with this latest lease, its total leased warehouse space has surpassed that of Amazon. The other party in the transaction, Marq, is Brazil's largest logistics real estate company, controlled by U.S.-based Ares Management Corporation, with a focus on key areas around S?o Paulo. Source: Ebrun Go. This article was generated by an automated writing robot developed by Ebrun, providing e-commerce insights through algorithms. The system is still in its early stages; feedback can be sent to run@ebrun.com or via comments to help it improve.