The initial estimates by experts are that the percentage of enterprises without tenants may exceed 20% by the end of this year in the city of São Paulo alone, twice as much as in the pre-pandemic period. There is another problem in sight: the arrival of the buildings that will be ready now in 2021.
Survey of Buildings, a real estate research company focused on the commercial real estate segment, shows that 31 new buildings are expected to be added to the market in São Paulo soon. In terms of footage, considering class A projects, there are over 352 thousand square meters of area for rent or sale, compared to 220 thousand meters in 2020 – an increase of 60%.
“The decision to build these projects was taken about three years ago, when there was an indication of a drop in the vacancy rate”, states the Managing partner of Buildings, Fernando Didziakas. According to him, the solution may lie in companies that are making growth plans. “In the pandemic, companies were able to adapt to the home office, but this, in the long run, will not be fully maintained. Companies will continue to need physical space, but the resumption may come from new companies that are entering the market and those that are growing. ”
A sign of this is what happened in one of the buildings already delivered at the beginning of the year, the B32, located in the Itaim neighborhood, in São Paulo. It was delivered with 60% of its rented floors, much of it to technology companies. Only Facebook reserved space equivalent to 30% of the building. E-commerce, on the other hand, Shopee, based in Singapore, and which saw its business expand rapidly in Brazil in the midst of the pandemic, had leased an area of 4,000 square meters. Now it is already planning its expansion, a source told the Estadão.
In another move, fintech Creditas also continues to expand its space near Marginal Pinheiros. The move in the market also involves bank executives and investment managers who begin to take solo flight projects off the ground and, for that, need physical space for their activities.
O responsible for Research and Market Intelligence at Cushman & Wakefield, Jadson Andrade it also mentions companies in the insurance, energy and health sectors. In the latter case, Andrade comments that some companies are resorting to corporate buildings to set up clinics and even hospitals, when they manage to make the necessary adaptation in the enterprise. THE Prevent Senior, for example, last year rented a corporate building on Avenida Brigadeiro Luís Antônio to build a hospital. He also kept the old building where Fnac was located, in Pinheiros, and another one on the Marginal.
“The offices are beginning to be adapted to the new reality and to the demands that are now emerging,” he says. Caio Castro, partner of the real estate fund manager RBR. This adaptation has undergone greater spacing between work points and areas of interaction, something that has been shown to be necessary after the exhaustion of work at home 100% of the time
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