The complex is comprised of two Class A+ office towers. The B Tower, which is currently occupied by BRK and has an area of 41,827 square meters, and the A Tower, with an area of 41,327 square meters, are home to major tenants such as Unilever, Alpagartas, and Brookfield Brasil.

In March, BRK Ambiental notified FII Santander Renda de Aluguéis (SARE11) about their plans to vacate 3,000 square meters of office space located in the B Tower of the WT Morumbi building. The FII’s portfolio administrator has reassured investors that there will be no financial impact until August 2023, factoring in the notice period, penalty for early termination, and proportional return of the negotiated concessions. 

Historically, the Chucri Zaidan region where WT Morumbi is located has had vacancy rates in the high teens. Beginning in late 2021, the vacancy rate increased sharply which can be correlated to the 125,000 m2 of new inventory delivered during that period, equivalent to 16% of the total inventory. Recent notable new developments in Chucri Zaidan include Brookfield’s Parque da Cidade and O Parque. One of the strengths of the Chucri Zaidan region is a diversified tenant mix, with the financial sector occupying the largest area (23.11%), followed by companies in the information technology sector (8%). 

The SiiLA research team will be following the current market conditions in the Chucri Zaidan region. Our Fii DATA PRO solution, developed in partnership with Clube Fii, offers a comprehensive view of FII-owned properties including occupancy and comprehensive tenant details. Please visit SiiLA.com to learn more about our solutions or contact us at comunicacao@siila.com.br.