%In the past week, XP Properties, the real estate area of XP Investimentos, announced that Uber is leasing 2,000 square meters of BOMA space in the Faria Lima Plaza building, located in São Paulo, Brazil. The development is part of the XPPR11 real estate investment fund and has a total of 32,744 square meters of private area, according to the Market Analytics platform from SiiLA.

According to the platform's data, the leased area corresponds to a private area of 1,612 square meters. The information was made public in a material fact disclosed by the fund. The document reveals that the lease is for six years and 45 days, with an end date of November 2029. However, the amount of the lease advance was not disclosed.

Since 2022, the transport app has been present on the 20th, 21st, and 22nd floors of the asset, which totaled an area of 4,919 square meters. Now, with the integration of the 19th floor, the company has leased a total of 6,531 square meters.

Faria Lima Plaza is a development located in Largo da Batata, next to the Faria Lima Yellow Line metro station, and in the region that bears the same name. The owners of the asset are VR Investimentos, which holds 60% of the asset, and XP Properties, which owns the other 40%.

In addition to Uber, the development houses another notable player, the Chinese e-commerce app Shopee. Without considering the current lease, the occupation rate of the development is 64.50%. With the expansion of the ride-hailing company, the asset will have a 69% occupancy rate.

To access more details about the properties that make up XPPR11, its tenants, and its recent transactions, please visit the exclusive data analysis platform for subscribers, Market Analytics.