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Shein Facilitates Large Transaction in the Logistics Sector. Online Sales Company Leases Warehouse Larger Than 19 Soccer Fields in the State of São Paulo, check out the details.
The recent lease of a new warehouse in Guarulhos (SP) by Shein was the main transaction in the third quarter in the logistics sector, according to the report from the real estate consultancy Binswanger. The move contributed to the average price per square meter for warehouse rentals reaching R$ 23.85, the highest value ever recorded in the history of the survey, which began in 2012.
Shein Logistics Space Rental Absorbs 135 Thousand Square Meters
The average price increased R$ 0.22 in the quarter, and the vacancy rate, that is, empty space, remained at 10%, the lowest ever recorded. Shein’s rental in the logistics sector absorbed 135 thousand square meters, equivalent to 19 soccer fields.
The move comes at a time of strong growth for the Chinese online retailer, further driven by the implementation of the Remessa Conforme federal program, which exempts Import Tax for purchases up to US$ 50 made on websites that have joined the regime. In the quarter, net absorption, that is, new leases minus exits from warehouses, was positive at 494 thousand meters. Additionally, the number of logistics condominiums in the country grew by 541 thousand meters, reaching 19.2 million square meters.
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It is worth mentioning that, in July, the logistics condominium company GLP signed a contract with the Chinese Shein at the GLP Guarulhos II facility, 18 km from the state capital. This is the second contract of the Asian company with the logistics warehouses at the same location. The Chinese company, which was already leasing 81 thousand square meters in two warehouses, will total 216 thousand square meters.
Shein Announces Investments and the Generation of 100 Thousand Jobs in Brazil
The new warehouse is GLP’s largest. The space will be occupied as soon as the works in the logistics condominium are completed. According to the president of GLP Brazil, Mauro Dias, being chosen by Shein at a time when the company announces significant investments in Brazil assures GLP that it is on the right track in developing well-located and efficient facilities. In April, Shein announced investments in Brazil to establish a modern textile production and export hub for Latin America.
Moreover, the company also plans to close partnerships with around 2 thousand local manufacturers to generate about 100 thousand jobs over the next three years for producing the brand’s pieces. Shein expects that 85% of its sales will come from local manufacturers and sellers by the end of 2026.
In 2021, the first phases of construction for the warehouse were initiated, which includes four warehouses divided into 250 thousand square meters. The completion of the second and third phases of the project is scheduled for the third quarter of this year, totaling 500 thousand square meters.
528 Thousand m² Were Leased in the Third Quarter of the Year in SP
In the third quarter of this year, approximately 528 thousand m² of logistics warehouses were leased in the state of São Paulo. The highlight is the city of Guarulhos, which accounts for 257 thousand m² of the total. In addition, 66% of the inventory leased in the region belongs to companies linked to the e-commerce sector, such as Shein.
The research was conducted by Colliers, a real estate services and investment management company. The result of the inventory conducted between July and September 2023 shows an increase of 337 thousand m² to the existing inventory.
The new deliveries are concentrated in the regions of Embu, São Paulo, and Guarulhos. The vacancy rate in the state remained stable at 10%, the same level recorded in the previous quarter.
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