Sale of IBM’s São Paulo Headquarters May Take a Turn as New Player Enters the Scene

The sale of IBM’s headquarters to Barzel could intensify competition for one of the most coveted addresses in São Paulo’s South Zone

Marcelo Braga, President of IBM Brazil

By: SiiLA News

04/28/2025

IBM is selling its headquarters building, located near Avenida 23 de Maio, to Barzel for approximately R$ 240 million, according to exclusive reporting by REsource. However, tensions around the transaction may rise as a new interested player emerges: EZ Tec.

According to the reporting team, the growing interest in the property stems from IBM’s plan to sell its nearly 30,000 m² headquarters through a sale & leaseback model, in which the company sells the property it occupies but continues to operate from it.

Barzel has already signed a memorandum of understanding for the purchase, which has been disclosed and is currently under review by Brazil’s Administrative Council for Economic Defense (CADE). According to CADE’s Electronic Information System (SEI), the agreement between Barzel and IBM was published in the Federal Official Gazette last Friday (25th).

Source: CADE’s Electronic Information System (SEI)

In 2018, EZ Tec acquired part of the land adjacent to the IBM headquarters to build a high-end residential project, Lindenberg Ibirapuera. Due to this previous transaction, EZ Tec claims a right of first refusal among the interested parties, which could allow it to take the lead in the negotiations.

Although the company does not currently own any corporate real estate assets, it has experience developing this type of property.

What’s at Stake?

Beyond its prime location, it close to Ibirapuera Park, Avenida Paulista, and Rua Vergueiro, the new owner of the IBM building would also gain a significant rental income stream.

Data from SiiLA estimates the building’s market rental value at R$ 142.31/m², meaning the property could generate approximately R$ 4 million in monthly rental income. The asset is classified as a B-Class building and was originally constructed in 1976 by IBM itself.

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