According to the firm, the purchase and sale of large commercial properties (office buildings, logistics warehouses, shopping centers and big-box stores) moved R$ 12.2 billion in Brazil across 41 transactions between July and September. This is the second-highest quarterly volume in the past 12 years of research, behind only the fourth quarter of 2025, which totaled R$ 13.9 billion.
Logistics warehouses led the market, with 12 deals totaling R$ 5.5 billion, or 45% of the total. Retail accounted for 16 deals (R$ 3.9 billion, 32%) and office buildings for 13 deals (R$ 2.8 billion, 23%).
Renato Paglarin, head of Research at Cushman & Wakefield, noted that the quarter marked a positive recovery in investment in commercial properties, with relevant deals across all sectors, but still within a fairly selective environment.
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