Faria Lima Plaza Nears 80% Occupancy with Uber Expansion

Capitânia announced that Uber is expanding its footprint in the Faria Lima Plaza office tower. According to the owner, the company is leasing 3.3 thousand m² of private space under a five-year contract, effective from August 1, 2024.

“This new lease with Uber highlights a significant positive: the quality of our asset. This agreement has brought our fund, CPOF11, close to 90% occupancy. Additionally, we’ve seen a rise in demand. We now have only four floors available in the building,” stated Alexandre Alfer, Head of Real Estate Funds at Capitânia, in an exclusive interview with REsource.

The ride-sharing app company already occupied four floors of the building. With this expansion, Uber now leases a total of 9.8 thousand m². Market experts consulted by the REsource team estimate that Uber's lease was negotiated at R$ 175 to R$ 185 per m².

This marks Uber's second expansion. The first occurred in November 2023, when the company, which initially occupied 4.9 thousand m², leased an additional 1.6 thousand m².

In addition to Faria Lima Plaza, Uber occupies other buildings in São Paulo, one in Pinheiros and another in Chácara Santo Antônio, as well as two more properties in the central region of Rio de Janeiro.