Shopee Secures 220,000 Sq M Logistics Park in Brazil’s Largest-Ever Warehouse Lease Deal

Ebrun Exclusive, March 16 – A landmark transaction has recently emerged in Brazil’s logistics and warehouse market. Marq, Brazil’s largest logistics property developer, has signed a record-breaking warehouse lease agreement with Shopee, leasing out approximately 220,000 square meters of warehouse space in a single deal—the largest single lease transaction in the country’s logistics market to date.

The project is located in Guarulhos, S?o Paulo, adjacent to the Presidente Dutra Highway, and is still under construction, with delivery expected by the end of this year.

Industry insiders believe this deal fully demonstrates that Brazil’s logistics property market, after years of expansion, continues to experience strong growth driven by e-commerce demand.

The head of Ares Management, Marq’s parent asset management company in Brazil, stated that a warehouse lease of this scale has never been seen before, and the industry as a whole remains in a phase of continuous expansion with ample room for future growth.

At the same time, the transaction also reflects changes in the business model of the logistics property market.

Marq pointed out that market interest in large-scale logistics park projects has significantly increased, as such projects can help tenants achieve greater operational scale in warehousing, sorting, and distribution, thereby improving overall efficiency. As e-commerce companies continue to pursue more efficient supply chain systems, demand for large-scale warehouse facilities is expected to keep expanding.

As a key player in Brazil’s e-commerce logistics competition, Shopee has been accelerating the deployment of its delivery network nationwide to vie for dominance in fast delivery services for online retail. In February this year, the company opened a new logistics facility in Goiania. Since entering the Brazilian market in 2020, Shopee has established 16 logistics centers in the country.

With its continuously expanding logistics network, Shopee has become one of the largest tenants in Brazil’s logistics warehouse sector, with a lease scale surpassing Amazon and second only to Latin American e-commerce giant Mercado Livre.

In the e-commerce industry, having more warehouse facilities for product storage and distribution enables faster delivery speeds and reduces logistics costs for getting goods to consumers. This operational model is intensifying competition among e-commerce platforms for warehouse resources, especially in core logistics hubs near major cities.

Notably, this warehouse lease agreement was signed before the project was completed, reflecting the relative scarcity of high-quality, rentable warehouse space in the current market. Industry insiders say it is almost impossible to find alternative projects of comparable scale in the same area.

Data shows that among existing built logistics warehouses in S?o Paulo state, only about 8% remain available for lease. Tight supply is driving up warehouse rents, with increases already exceeding local inflation levels. Marq believes this phenomenon indicates a healthy market—previously, the industry’s vacancy rate had reached as high as 20%, with rents nearly stagnant, but the market is now gradually regaining vitality.

It is worth mentioning that in this record-breaking deal, the property owner did not offer a rental discount despite Shopee’s status as a major client. Sources revealed that the contract’s rental level is largely in line with local market rates, and due to Shopee’s need for secondary construction modifications inside the warehouse, the lease price was even slightly adjusted upward.

Ebrun will continue to track developments on this story. To learn more about related information, please scan the QR code to follow the author on WeChat.