Marq (formerly GLP) signed the largest lease ever seen in the logistics warehouse market in Brazil. In one fell swoop, it rented 220,000 m² (something like 27 football fields) in the development that is under construction and will be delivered by the end of this year on the banks of Rodovia Presidente Dutra, in Guarulhos (SP).
The tenant will be Shopee, according to the report. Marq does not disclose the name of the tenant due to contract confidentiality. When contacted, Shopee did not comment.
The size of this location signals that the logistics market in Brazil remains strong even after years of expansion, driven mainly by demand from e-commerce companies.
“There has never been a contract of this size. The sector continues to grow and there is still a lot of wood to burn”, highlighted the Leader in Brazil of Ares Management, manager of Marq.
Furthermore, the contract indicates a new transaction profile. Dias sees a greater interest in large-scale properties, which help tenants gain scale in the storage and distribution of goods. “The tendency is to see an increase in the scale of business, because companies are seeking more efficiency in operations,” he stated.
Shopee is investing heavily in new distribution centers around the country in the fight for leadership in fast deliveries in online sales. In February, the company opened a new space in Goiânia, bringing its total to 16 since it began operating in Brazil in 2020. Since then, it has become the main rental company for this type of property here, surpassing Amazon and only behind Mercado Livre.
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In e-commerce, those who have more warehouses for storing and distributing goods deliver faster and spend less to reach the customer’s home. This strategy intensified the search for warehouses, especially close to the capitals.
Another interesting point is that the location of the Guarulhos logistics park was closed before the work was even completed. This is a reflection of the shortage of warehouses to meet demand. “The landlord will not find another offer of this size in the same location”, pondered the executive.
In the State of São Paulo, only 8% of all warehouses already built are available for rent. This has caused rental prices to rise above inflation. “This is healthy. The sector already had a vacancy rate of 20%, and prices were not rising. Now there is a recovery”, stated Dias.
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To close this contract, there were no discounts on rent, he added. “We closed very close to the asking price in the region, R$45 per square meter. We had some adjustments due to the investments that will be made in the space.”
Marq is the largest developer of logistics warehouses in Brazil, with 45 projects, equivalent to 1.9 million m². In addition, it has land to launch another 900 thousand m², of which 370 thousand m² are actually under construction. This covers the Guarulhos project that has just been leased and another unit in Taboão da Serra (SP).
The remaining projects are in the licensing phase. “As soon as we have the approvals, we will begin the next works”, said Dias. The focus will continue to be on projects in radius of up to 15 or 30 kilometers from São Paulo, covering Guarulhos, Cajamar, Franco da Rocha, Embu and the ABC region.
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Investments in these projects are not disclosed by Marq. The resources will come from funds that have already raised funds. The group constantly evaluates the possibility of selling projects already built to distribute dividends to shareholders. “The market is not very liquid due to high interest rates. But, with the fall in the Selic rate, we should see a window for raising real estate funds and transactions for the purchase and sale of assets in the market throughout the year”, he estimated.
Marq is controlled by Ares Management, a resource manager based in Los Angeles, United States, and holder of US$623 billion in assets under management in the Americas, Europe and Asia. The manager operates in the areas of credit, real estate market and participation in companies (private equity). In 2025, Ares acquired GLP’s projects throughout the world, except in China. It was then that he adopted the name Marq Logistics.
