In Minas Gerais, Log Commercial Will Invest R$ 2.5 Billion and Has Plans for New Developments

Outside Minas Gerais, the Company Specializing in Warehouse and Logistics Condominium Rentals Has Plans for Construction in Other States

Log Commercial Properties has just revised its expansion plan once again. Launched in 2019, the plan from the company specialized in warehouse and logistics condominium rentals, which is owned by the main shareholders of MRV, anticipated investments of R$ 1.5 billion between 2020 and 2024 for the construction of 1 million square meters. Now, the strategy expects investments of R$ 2.5 billion and the construction of 1.5 million square meters. See also: The State of Minas Gerais Is Expected to Create Over 200,000 Jobs With Investments from Mining, Industry, E-commerce, and More

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Announcement of the Investments to Be Made

The CEO of Log, Sérgio Fischer, previously stated that although it was still early to understand how demand would behave for the rest of the year, the company was already scouting land in new regions for the construction of warehouses beyond the 1 million square meters of Gross Leasable Area (GLA) projected. He mentioned an expansion of the plan by 50% or even doubling it, which would mean investments of R$ 3 billion.

Sérgio Fischer says, “This is already the second revision of a plan launched shortly before facing the pandemic. And we continue to negotiate new deals. The demand for logistics warehouses from retail companies is quite heated due to the e-commerce boom since mid-last year. We have the largest client portfolio in the sector, and many of them are looking for locations in other regions. This led us, in the last quarter, to several more capitals, and today we are in Minas Gerais and 16 other states in Brazil.”

Construction in an Area in Betim, State of Minas Gerais

In the last three months, the company signed a BTS contract for 95.7 thousand square meters of GLA in the Industrial Park of Betim (RMBH) for e-commerce activities, with construction expected to begin in the coming months. “Such speed in the execution of the expansion plan means that half of the plan will be delivered by the end of next year. This means that by the end of 2022, we will have 750 thousand square meters of GLA already leased,” he reveals.

See Also: Heineken Brewery Will Start Building a New Factory in the State of Minas Gerais

The construction works for Heineken’s new factory in Pedro Leopoldo, in the state of Minas Gerais, are about to begin. Six months after the official announcement of the establishment of a Heineken factory in the state, the company is waiting for the issuance of licenses from the State Secretariat for the Environment and Sustainable Development of Minas Gerais.

The company Tucumann Engenharia, from the city of Curitiba, in Paraná, will carry out the works and is already making job openings available for earthworks and drainage activities on the land that will receive the factory. Heineken’s new venture in Minas Gerais has already received investments of R$ 1.8 billion and will be the 16th factory of the group in Brazil.

In May, it was reported that Heineken had already acquired land from the Development Bank of Minas Gerais (BDMG), had purchased an area from Precon Engenharia, and was negotiating others in the surrounding area. At the time, the company did not comment on the matter, but the report had access to documents and information indicating that the construction will be nearby where the project was supposed to be. A source related to the negotiations, who requested anonymity, detailed that the brewery’s installation will occur on a combination of four plots.