LPA Expands Scharf Lease in Callao Logistics Park
Event summary
- LPA expanded its lease with Scharf at Parque Logístico Callao by 38,438 sq. ft., starting June 1, 2026.
- The deal marks a double-digit rental rate increase over the prior lease.
- Scharf will use the space for auto parts distribution for a global automotive brand.
- Parque Logístico Callao is adjacent to Jorge Chávez International Airport in Callao, Peru.
The big picture
LPA's lease expansion with Scharf underscores the strategic value of airport-adjacent logistics facilities in supply-constrained markets like Callao. The deal reflects broader trends of institutional-quality logistics space outpacing available supply in high-growth Latin American markets. LPA's ability to capture rental growth within its existing portfolio highlights its asset-optimization strategy amid strong demand from third-party logistics providers.
What we're watching
- Demand Dynamics
- How sustained demand for airport-adjacent logistics space in Callao will impact rental growth.
- Portfolio Optimization
- Whether LPA can continue capturing embedded rental growth in its stabilized portfolio.
- Customer Retention
- The pace at which LPA deepens relationships with high-quality customers like Scharf.