Engineering and Architecture Firm Leases Two Floors in Former SulAmérica Building on Faria Lima

Egis has leased two floors in the Class A building, located in the Faria Lima region across from Largo da Batata

Laurent Germain, CEO Global of Egis

By: SiiLA News

10/31/2024

The Roberto Bratke building, previously known as the SulAmérica building, located on Faria Lima across from Largo da Batata, was leased nearly a year after the departure of an insurance company, which officially vacated the space in the first quarter. The new tenant is Egis no Brasil, a firm specializing in architecture, engineering, and consulting.

According to data gathered by SiiLA's market intelligence team, two floors were leased, totaling approximately 1,892 square meters of private area or 2,100 square meters of BOMA area. The leased space is being rented at an estimated rate of R$160 per square meter.

The property has multiple owners, who are commercially represented by Engeform, with Nathalie Brito as the general manager of real estate development.

Since the insurance company vacated the space, the Roberto Bratke building has been available on São Paulo’s high-end office market. With this lease to Egis, the Class A asset, which has a total area of 12.3 thousand m², currently shows an 84.6% vacancy rate.

Photo: SiiLA

Read more: Vacancy Rate Drops with New Tenants in Brazil’s Office Spaces; A Look at 3Q 2024

Context

The availability of the Roberto Bratke building comes at a time when the Faria Lima area is facing a shortage of space. With the departure of companies like Pirelli earlier this year and the expansion and arrival of others such as Uber, Klabin, Reag, and Pixbet, net absorption in the region has been increasing.

The third quarter ended with an overall vacancy rate of 9.7% and a net absorption of 10.5 thousand square meters for Class A+, A, and B properties. For prime buildings (Class A+ and A), such as the Roberto Bratke, the figures were also positive, with a 10.9% vacancy rate and net absorption of 7.1 thousand square meters.

These figures indicate an improvement. Looking back at the previous quarter (Q2 2024), the region had closed the period with negative net absorption across all segments, whether considering all classes (A+, A, and B) or each individually.

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