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Billion-Dollar Investment Boosts The Southeast Of Brazil With The Country’s Largest Logistics Condominium, 620,000 M² Of Leasable Area, Consolidating The Region As A New National Strategic Hub.
Espírito Santo has just entered the map of major corporate real estate investments in the country.
A contribution of R$ 2 billion will give rise to the largest logistics condominium ever built in Brazil, transforming the State into a national reference in storage and distribution infrastructure.
The project, signed by Private Construtora, marks a turning point for a market that has been expanding since 2022.
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A R$ 300 million logistics giant is taking shape in Serra with over 100,000 m² and raises a question: how can this transform e-commerce and distribution in the state?
Accelerated Growth And Booming Market
According to a survey by Colliers, the gross leasable area of warehouses in Espírito Santo jumped from 580,000 m² in 2022 to over 1.4 million m² in the second quarter of 2025.
This increase, far from reducing costs, caused the average price per square meter to rise from R$ 21.55 to R$ 25.22.
The State also boasts a vacancy rate of only 3.8%, well below the national average of 9%.
“In 2021, the local market began to professionalize with regional investors betting on more modern warehouses,” explains Maurício Nascimento, manager at Colliers Brasil.
For him, the tax incentives offered offset logistical challenges and rental costs, making Espírito Santo highly competitive.
Tax Incentives And Strategic Infrastructure
The favorable environment is a direct result of the state programs Compete-ES and Invest-ES, which guarantee ICMS reduction for e-commerce, wholesalers, and importers.
According to the state secretary of Development, Rogério Salume, these instruments, effective until 2032, are essential for attracting companies, generating jobs, and boosting the economy.
In addition, the State benefits from a strategic location, with easy access to highways, ports, and the recently renovated Vitória Airport.
The delivery of the Master Álvaro Bypass, a modernized section of BR-101/ES, was also decisive.
The work, completed in 2023 with the presence of President Luiz Inácio Lula da Silva, improved traffic for 50,000 vehicles per day and paved the way for new logistical operations.
Companies Attracted And Growing Hubs
Since the delivery of the Bypass, the Espírito Santo warehouse market has grown by almost 500,000 m². Serra alone accounts for 43% of the state inventory, with 601,000 m². Viana totals 366,000 m², and Cariacica, 235,000 m².
Companies like Mercado Livre, FedEx, Suzano, and Autoglass have increased their presence, reinforcing the region’s strategic character.
Porto Canoa Log, inaugurated in 2021 in Serra, has become the largest logistics condominium in Espírito Santo so far, with 96,000 m², occupied by names such as Grupo Boticário and Whirlpool.
But this title is about to change hands.
Private Log: The New Giant Of The Sector
With an initial delivery forecast in 2026 and full completion by 2028, Private Log will be the largest logistics condominium in Brazil.
The project envisions over 620,000 m² of gross leasable area on a plot of 1.5 million m², purchased for R$ 378 million.
For comparison, the current national record holder is GLP Guarulhos in São Paulo, with 440,000 m². The new Espírito Santo venture will comfortably exceed this number.
In addition to the four warehouses, the structure will include a gas station, outlet, restaurant, tennis court, gym, and even a pool, signaling a bet on multifunctional spaces.
The first phase, with 170,000 m², has already been contracted by Mila Transportes, at a value of R$ 32.80 per square meter — about 30% above the regional average, demonstrating high demand.
Three other large companies are already negotiating contracts, in addition to investment funds interested in financing the work.
“Espírito Santo has a natural logistics vocation, but major players still concentrate their operations along the Rio-São Paulo axis.
We are seeing companies desperate to secure good spaces here,” says Mateus Vitoria Oliveira, founder of Private Construtora.
Economic Impact And Promising Future
For experts, the delivery of Private Log will consolidate Espírito Santo as the fourth largest market for logistics warehouses in Brazil, surpassing Pernambuco.
The movement should strengthen the State’s role as a national and international distribution hub, leveraging its strategic position near the Atlantic and major trade routes.
In a scenario of GDP above the Brazilian average and an unemployment rate of 4% — the lowest in the Southeast — Espírito Santo shows that the future of logistics in the country may lie beyond the traditional Rio-São Paulo axis.
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