Dow Chemical is Moving from Rochaverá but Will Stay in Chucri Zaidan
- The company is reducing its area from around 12,000 m² to 8,000 m²
The chemical and biological technology company, Dow Chemical, has announced that it is in the process of moving its Latin America administrative headquarters, located in Chucri Zaidan, the CBD region of São Paulo. The company is packing up from the D tower (Diamond Tower) of the Rochaverá complex to the Parque da Cidade, also in Chucri Zaidan.
Rochaverá is a complex composed of four high-standard towers, delivered between 2008 and 2010. Dow occupies 100% of the 12,709 m² of Tower D of the asset, which belongs to the AIEC11 fund. In a statement to REsource, the company states that the "decision was made after a market analysis and is aligned with the company's expectations for the coming years."
Installed in the Chucri Zaidan region since 1980, Dow revealed that the effective move is scheduled for the last quarter of 2024. The company mentions that the new facilities will be set up according to its corporate strategy focusing on sustainability and providing the best experience for employees.
The move to Parque da Cidade will directly impact the company's occupancy as they will reduce the occupied space by about 40% in the new development. The new home for the company is also part of a high-standard complex with nine towers and a shopping center, housing companies like Serasa Experian, Melitta, Kavak, Brookfield, and others.
Market Analytics data shows that the Chucri Zaidan region has 630,000 m² in A+, A, and B developments with a vacancy rate of 31.58%. Most tenants are from the FIRE segment (22.4%), Public Services (18.6%), and TAMI (12.4%).
Currently, the region has a concentration of new developments; in the last three years alone, it received 167,000 m² of new stock, with 147,000 m² delivered in 2021.
