The first half of the year has registered unprecedented events in the history of the local storage lease market.  The increased availability is due to a depressed demand originated in October 2019 and enhanced by the cascade of effects in the economy brought along by the mobility restrictions imposed by Covid-19.

 

Even though the higher increases correspond to contract terminations previously known by operators, the demand is not sufficiently strong so as to keep the re-lease of that space in the necessary  speed to keep the market in a healthy scenario.  Thus, the market admits over 100,000 m² of negative absorption.