Turn Key: The Preferred Solution for Property Owners and Tenants Making Decisions on Leasing a New Corporate Office Space

In the third quarter, tenants in São Paulo, Brazil, leased over 158,000 square meters and returned keys to more than 77,000 square meters of office spaces. In the dynamic shuffle between tenants, property-owning companies with available spaces are actively seeking efficient solutions to present to their future occupants. One particularly notable solution gaining traction is Turn Key.

Turn Key, as a concept, involves presenting tenants with a comprehensive office package, encompassing construction, decoration, with a lease agreement. This streamlines the tenant's transition both in terms of the physical attributes of the space and the financial aspects. Construction expenses can be integrated into the lease terms. In essence, Turn Key ensures that the future occupant receives a move-in-ready space, personalized to meet the unique operational demands of their company. Quite literally, it's about "turning the key." This all-encompassing solution covers everything from partitions, desks, and chairs to decoration and kitchen appliances.

One notable provider of this service is Barzel Properties, specializing in real estate management and development in Brazil. Bruno Turaça, Barzel's Portfolio Director, highlights the company's specialization in this service, particularly in the post-pandemic period when businesses were strategically repositioning themselves in the market.

“Following the onset of COVID, we observed the market taking a temporary step back. However, we foresaw a rapid rebound, prompting us to position ourselves and introduce this comprehensive solution. We were ready to meet the needs of clients seeking an all-inclusive package for their occupancy,” he shares.

Turaça recently hosted the REsource team at Pinheiros One, where they were in the final stages of delivering a floor. The project, completed in under 60 days, was handed over fully furnished, including flowers, Wi-Fi, access control, and appliances. All that remained was for tenants to "plug in their notebooks" and start working.