If you're from Rio, you have probably heard of or know the property, one of the first skyscrapers in Rio de Janeiro and Brazil, standing out at 146 meters high and, especially for those who had flown over the city, when it landed on the Santos Dumont Airport.

Originally, the building bore the name Cidade de São Sebastião do Rio de Janeiro, but over the years, it became better known as "Sedan." The new jargon is related to one of the access roads to the property, Rua Senador Dantas.

According to the SiiLA Market Analytics platform, the corporate building was delivered in 1980. The asset has a high standard classification, a class A, taking into account the criteria and technical specifications. There are 49,186 sq meters of private area spread over 42 floors, with average slabs of 1,200 sq meters and a ceiling height of 2.60 meters.

The building has a heliport, 16 elevators, and central air conditioning, in addition to a 30-story attached parking lot with more than 260 parking spaces.

The main occupant is Banco do Brasil, which has owned the asset since March 1982. The building was known for bearing the bank's logo at the top for many years.

Despite not being listed, it is considered a true architectural heritage for the institution. Since the acquisition, BB has maintained the building with a permanent team on site. Currently, it houses Agency 0001 and some administrative departments on the ground floor.

The project led by the City of Rio aims to encourage the city's central region's urban, social, and economic recovery. Those who work at the development have a privileged view of true carioca postcards, such as the Sugar Loaf, Guanabara Bay, and the Rio-Niterói Bridge. And speaking of location, the building is within the perimeter of Reviver Centro. In all, Reviver Centro covers 5.72 km², in the so-called Administrative Region (Centro and Lapa), where there are 800,000 formal jobs.

The City Hall's plan with Reviver Centro is to attract more residents to the center, encouraging, through tax benefits, the construction of new homes and the transformation of commercial buildings into residential or mixed-use ones. In this way, the program seeks to take advantage of the already-built potential of the region and occupy the empty plot of land so that the residents can enjoy the infrastructure of transport, education, health, services, culture, and leisure. More than 1,300 housing units have already been licensed since the launch of Reviver Centro in July 2021.

Commercial vocation

Historically, the Center of Rio had commercial predominance, being the city's main region of corporate slabs with the largest stock. SiiLA accounts for more than 907,000 sq meters of high-end offices against 302,000 sq meters in Cidade Nova, the second largest region, considering the same parameters.

Of the regions monitored by SiiLA, the center has the highest occupancy rate, reaching 71.7% for high-end developments. "The numbers indicate a pace of recovery, with three consecutive quarters of decline in vacancy in the Center and positive net absorption, with more spaces leased compared to devolutions," explains Giancarlo Nicastro, CEO of SiiLA.

Companies in the Center are the main occupants in the Oil and Gas, Finance and Administration, and Public Services sectors.

According to the executive, the reoccupation of regional offices and the Reviver Centro program should contribute to the rebirth of Downtown Rio. "It is also important to highlight that, with the return to face-to-face workspaces, there is a tendency for employees to seek housing and opportunities to be closer to their jobs, spending less time commuting," he adds.