Media Company Secures Four Floors in River One, Boosting Office Occupancy to 75%. Get the Details

With this new lease, River One’s occupancy rate jumps to 75%. When the building was delivered three years ago, it was entirely vacant. During this period, the average occupancy rate for high-end offices in the region ranged from 61% in Q2 2021 to 57% by the end of Q2 2024, according to data from SiiLA's Market Analytics platform.

In an interview with REsource, Caio Castro, a partner at RBR Asset, commented that "the negotiated prices are well above those practiced in Chucri Zaidan properties, for example."

He also highlighted the growing demand in the Butantã region, where River One is located, especially from companies seeking proximity to the Faria Lima and Pinheiros areas.

“This lease is emblematic as it shows the potential of this microregion, Butantã, compared to other areas like Chucri Zaidan and Marginal Pinheiros. We are seeing an overflow effect from Pinheiros and Faria Lima, with companies willing to pay between R$ 160 and R$ 180 per square meter. Uber is an example. Demand is strong, and the numbers show it,” added Castro.

Currently, River One is home to six tenants, including companies such as Virgo, You On, and Plano & Plano. Editora Globo, which will also occupy the building, is responsible for publications such as Valor Econômico, Monet, Vogue, and Globo Rural, among others.