Rebouças keeps growing while Vila Leopoldina shows strong potential, new SiiLA data reveals

SiiLA Market Analytics data shows that São Paulo's office market recovery is unfolding at different speeds. Close to Faria Lima, Rebouças absorbed all new office supply delivered during the quarter and now operates with vacancy below 4%, while Vila Leopoldina still reports more than 39% available space

Hilton Rejman, President of Brookfield Properties Brazil, owner of Arquipeo Building, one of Vila Leopoldina's landmark office properties

By: SiiLA News

07/15/2026

São Paulo's office market continues to reduce vacancy, but the recovery is far from uniform. SiiLA Market Analytics data for the second quarter of 2026 shows that while some submarkets are already facing a shortage of premium office space, others are still working to absorb available inventory.

Rebouças is one of the standout performers in this trend. The submarket closed the quarter with 198,785 m² of office inventory and a vacancy rate of just 3.99%, well below São Paulo's citywide average of 15.88%.

The performance is even more significant because it occurred during a quarter that saw the delivery of Biosquare, a 30,022 m² office building that was fully pre-leased by Amazon. As a result, net absorption reached 32,301 m².

These figures reinforce Rebouças' position as one of São Paulo's leading corporate office hubs. Benefiting from its proximity to Faria Lima and well-established urban infrastructure, the area continues to attract companies seeking a strategic location while maintaining close access to the city's main financial district.

Vila Leopoldina shows strong potential

Vacancy: Rebouças Leads, Vila Leopoldina Shows Potential

While Rebouças continues to strengthen its position, Vila Leopoldina is also showing encouraging signs.

The submarket ended the quarter with 92,656 m² of office inventory and a vacancy rate of 11.7%, below São Paulo's citywide average of 15.88%. Occupancy across the area remains consistently strong, with most office buildings fully leased and the highest vacancy rate among the remaining properties standing at just 16%. These figures reinforce Vila Leopoldina's potential as an emerging corporate office hub.

One of the region's flagship office developments is Brookfield's Arquipeo Building, which has established itself as one of Vila Leopoldina's premier corporate assets.

With approximately 55,300 m² of office space, the property is home to two of the area's largest corporate occupiers. Global advertising group WPP leases approximately 39,200 m², while proptech company QuintoAndar occupies an additional 7,000 m². Together, the two companies occupy more than 46,000 m² of the building.

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