Eletromidia Seizes Opportunity and Leases Space Vacated by Meta

The Infinity Tower truly shines as a standout player in São Paulo's bustling office market. With its expansive 30,000 square meters of premium space, it's a magnet for major multinational players, including the likes of Goldman Sachs, Credit Suisse, and Apple.

According to SiiLA's data, the demand for this building is exceptional. Since the company began tracking the Brazilian market in 2015, there have been only a few instances of available space within this development. The occupancy rate had remained rock-solid above 94%—until this April, when Meta (formerly Facebook) vacated six floors.

Seizing the opportunity presented by this vacant space, Eletromidia, an advertising company, has expanded its operations into the Infinity Tower. The company already held an entire floor in the FL 4300 - Torre Corporate building, situated in the bustling financial hub of São Paulo, Faria Lima.

Now, in addition to FL 4300, Eletromidia is leasing an entire floor within the Infinity Tower, adding up to a total of over 1,600 square meters of private space. Combining both locations, Eletromidia's footprint surpasses a substantial 2,800 square meters.

Signs of Rejuvenation in the Advertising Agencies Sector

The resurgence of office occupancy has once again cast the spotlight on advertising agencies. Prior to the pandemic, the sector had impressively claimed over 110,400 square meters of space in 1Q20. Nevertheless, the pandemic-induced isolation led some firms to return portions of their leased space. It's noteworthy that this trend wasn't unique to this sector alone.

From the first half of 2020 until the present (2Q23), the advertising agencies sector has experienced varying levels of occupancy. The lowest absorption rate was recorded in 2Q22, with just over 76,800 square meters occupied. It then rebounded to 82,000 square meters by 4Q22, with a slight dip in the subsequent two quarters in terms of leased office space. The sector concluded 2Q23 at 79,700 square meters, considering Eletromidia's leasing move.

Infinity Tower Transactions: A Noteworthy Highlight

By the close of 2022, we delved into the five most significant transactions in the office market. In the realm of commercial floors, the top-ranking deal spotlighted the Infinity Tower. GTIS orchestrated the sale of 62% of this asset, a remarkable transaction valued at R$ 850 million.