• Read more: Chucri Zaidan Sers the Pace in 2024 Leasing, Surpassing Faria Lima and Other CBD Areas

High-standard office buildings follow similar trends over time, although at different intensities. Vacancy rates tend to rise during specific periods, often due to the delivery of new supply, as seen with the Parque da Cidade complex, which was delivered in 2015, 2018, and 2021.

Both segments recorded a decline in vacancy rates between 2018 and 2020, but A+ assets reached lower levels, hitting 14.3% in Q1 2020, while Class A offices remained above 17%. With the pandemic, starting in 2021, vacancy rates rose again due to economic uncertainty and lockdown restrictions.

Following the easing of restrictions, the two segments took different trajectories. In 2024, Class A properties reached their highest vacancy rate in Q3, peaking at 27.7% and closing the year at 26.5%. Meanwhile, A+ properties saw a lower peak at 17.7%.

• Read more: São Paulo Office Take Around 9 Quarters to Reach Their Lowest Vacancy After Delivery

Today, Faria Lima is the most important region for the high-end corporate office market. The area is highly sought after by major companies and attracts significant investments, while also being home to top-tier A+ developments. 

Its vacancy rate curve follows a similar trend to that of CBDs (Central Business Districts), though with more pronounced fluctuations. Data shows that A+ properties maintained low vacancy levels even during the pandemic and despite the delivery of new assets.

The Vera Cruz II building, located in the Faria Lima region, is a strong example of the performance of A+ developments. Built in 2014, the property has consistently reduced its vacancy rate over time. It has maintained zero vacancy since 2023 but has shown solid performance since 2019.

Owned by the PVBI11 fund, the building stands out as one of the top high-end assets in the area. Its tenant mix includes FIREsector companies such as Prologis, Riza Capital, and GPS JB, alongside firms like Shein, EuroChem, Omea Energia, and others.

• Read more: Financial Sector Continues to Lead A+ Office Occupancy in São Paulo

A+ office buildings feature large floor plates exceeding 1,200 m² and office units over 600 m², along with a minimum clear ceiling height of 2.70 meters. Additionally, they offer parking at a ratio of up to one space per 35 m², sustainability certifications, and generators that supply power to private areas.

Class A buildings, on the other hand, have floor plates over 1,000 m² and office units exceeding 500 m², with a clear ceiling height of 2.60 meters. The parking ratio remains the same—one space per 35 m²—but in this case, the generator only serves common areas.