São paulo

www.colliers.com.br

2ND QUARTER 2014 | officE

MARKET REPORT OfficEcLASSES A+, A AND B OfficE MARKET REPORT

Existing Inventory:

2.17 million sqm: a+ and a

1.92 million sqm: B

underConstruction

inventory: 1.15 million sqm

under projectInventory:

69 thousand sqm

Deliveredin the Quarter:

58 thousand sqm

availability: 18.9%: a+ and a

8.2%: B

Net absorption: 10 thousand sqm:

a+ and a-10 thousand

sqm: B

averageasking lease price:R$ 116/sqm/month:

a+ and aR$ 83/sqm/month: B

AVAiLABiLTY RATE ON PAcE Of GROWTH

EXISTING INVENToRY aND aVaIlaBIlITY RaTEThe corporate office market have demonstrated the continuity of the projected scenario for 2014: fewer expansions and increased consolidation of operations and tenants migration.

Due to the mentioned scenario and influenced by the delivery of new buildings, the asking lease prices are under pressure, especially for those with the high-est concentration of available area. The current estimate is that the peak of the availability rate will be reached between 2015 and 2016, depending mainly on the compliance of the schedule.

The first half ended with 2.1 million sqm considering only A+ and A buildings. The delivery of 58,000sqm during the second quarter is represented in sum-mary by the buildings: Praça faria Lima (faria Lima) and Thera corporate (Brooklin).

following the forecast, the high-end inventory should end 2014 with 2.3 to 2.5 million sqm and availability about 20% to 25%.

AVAiLABiLiTY RATE BY cLASS (%)EXiSTiNG iNVENToRY BY cLASS (THoUSAND SQM)

1,030 1,061Total Q2: 2,173

A+ AQ1 Q2

1,079 1,112

A+ AQ1 Q2

11.1

26.123.6

14.8

CollIERS INTERNaTIoNal | p. 2

MARKET REPORT OfficE | 2nd quarter 2014

EXiSTiNG iNVENToRY (THoUSAND SQM) X AVAiLABiLiTY RATE (%) BY SUBMARKET AND cLASSES A+ AND A

NET aBSoRpTIoNfollowing the pace of the first quarter when net absorption of classes A+ and A was 17,000sqm, in the second quarter the total of 10,000sqm ratifies a year with low increase. class A+ is the only one that should keep positive absorption over the course of the year, a fact attributed to new and high-end properties.

The main devolutions of the period occurred in the property Panamérica Park in Santo Amaro submarket.

NET ABSoRPTioN BY cLASS (THoUSAND SQM)

A+ AQ1 Q2

37 35

-19-24

73

329

400

350

300

250

200

150

100

50

0

60,0%

50,0%

40,0%

30,0%

20,0%

10,0%

0,0%

77

78

329

119

14104

161129

339

52

370

Inventory Availability

3.5

2629

17.4 17

50

26

1317.5

12.2

54.4

22.4

Vila O

límpia

Brooklin

Roqu

e Petr

oni

Faria

Lima

Itaim

Paulist

a

Pinheir

os

Santo

Amaro

Chác

ara

Santo

Antonio

Jardi

ns Morumbi

Cidad

e Jard

im

Barra F

unda

p. 3 | CollIERS INTERNaTIoNal

MARKET REPORT OfficE | 2nd quarter 2014

faria Lima is the submarket with the highest asking price with R$ 161.69 and Santo Amaro with the lowest average price with R$ 51.71.

AVERAGE ASKiNG LEASE PRicE BY SUBMARKET (R$/SQM/MoNTH)

R$ 59.29

R$ 80.00

R$ 113.81

R$ 91.65

R$ 76.25

R$ 65.90

R$ 116.50

R$ 145.00

R$ 103.29

R$ 161.69

R$ 97.80

R$ 157.50

R$ 94.19

R$ 130.00

R$ 96.67

R$ 55.00

R$ 134.29

R$ 114.24

R$ 127.25

R$ 89.48

R$ 116.63

R$ 62.31

R$ 53.83

R$ 51.71

R$ 123.21

R$ 86.96

Vila O

límpia

Brooklin

Roqu

e Petr

oni

Faria

Lima

Itaim

Paulist

a

Pinheir

os

Santo

Amaro

Chác

ara

Santo

Antonio Ja

rdins

Morumbi

Cidad

e Jard

im

Barra F

unda

Classes A+ and A Class B

iNVENToRY UNDER coNSTRUcTioN BY SUBMARKET (%)

Vila Olimpia 17%

Chácara SantoAntonio 10%

Roque Petroni 32%

BarraFunda 9%

Brooklin 9%

Paulista 4%

Pinheiros 4%

Faria Lima 10%

Jardins 1%Itaim 4%

Total: 1.15 million sqm

FuTuRE INVENToRYDuring the first half, the market received approximately 95,000sqm and other 294,000sqm are expected for this year. The total is less than a third of the available in construction in the submarkets monitored by colliers and has the largest representation in Roque Petroni and Vila Olímpia.

The most representative buildings expected for the third quarter are Ber-rini One and LWM corporate center, both in the submarket Brooklin and Vera cruz in faria Lima.

pRICESThe condition and pressure on asking prices remains the same since the beginning of the year, ie decreasing. Other factors such as free rent and allowances have been decisive in the realization of new businesses, since the quality and technical aspects of new properties be so similar. considering the classes A+ and A, the average asking lease prices closed at R$ 116.62, compared to R$ 119.26 in last quarter. The class B closed at R$ 83.72, compared to R$ 84.85 in Q1.

CollIERS INTERNaTIoNal | p. 4

MARKET REPORT OfficE | 2nd quarter 2014

STaTISTICS TaBlE

Barra Funda 72,690 34,761 3.5% 9.2% R$ 80.00 R$ 59.29 -2,031 297 100,835

Brooklin 329,393 270,922 26.7% 10.7% R$ 113.81 R$ 91.65 163 -5,813 99,670

Chácara

Santo Antonio76,754 164,395 29.0% 12.9% R$ 76.25 R$ 65.90 1,059 -259 115,999

Cidade Jardim 77,540 30,707 17.4% 3.6% R$ 145.00 R$ 116.50 0 471 0

Faria Lima 328,739 90,102 17.0% 11.7% R$ 161.69 R$ 103.29 2,827 58 118,618

Itaim 118,768 219,135 5.0% 8.2% R$ 157.50 R$ 97.80 -3,791 -2,664 51,117

Jardins 13,522 234,030 0 6.3% R$ 130.00 R$ 94.19 0 -1,194 14,286

Morumbi 104,257 21,962 26.1% 4.5% R$ 96.67 R$ 55.00 9,529 408 0

Paulista 161,175 185,848 13.0% 4.8% R$ 134.29 R$ 114.24 -413 267 52,597

Pinheiros 129,365 155,066 17.5% 5.0% R$ 127.25 R$ 89.48 1,889 666 44,059

Roque Petroni 339,360 40,510 12.2% 3.3% R$ 116.63 R$ 62.31 4,111 647 403,133

Santo Amaro 51,891 222,633 54.4% 7.9% R$ 53.83 R$ 51.71 -17,581 -961 20,285

Vila Olímpia 370,395 257,729 22.4% 9.6% R$ 123.21 R$ 86.96 14,690 -1,958 202,475

Total 2,173,849 1,927,800 18.9% 8.2% R$ 116.62 R$ 83.72 10,453 -10,034 1,223,074

SUBMARKETiNVENToRYA+ AND A

iNVENToRYB

AVAiLABiLiTY RATE A+ AND A

AVAiLABiLiTY RATE

B

AVERAGEASKiNG LEASE

PRicEA+ AND A

AVERAGEASKiNG LEASE

PRicE B

NET ABSoRPTioN

A+ AND A

NET ABSoRPTioN B

UNDER coNSTRUcTioN AND PRojEcT

Existing inventory: 368 thousand sqm:

A+ and A194 thousand sqm: B

Underconstruction

inventory: 94 thousand sqm

Availability: 43.6%: A+ and A

33.1%: B

Net Absorption: 5,655 thousand sqm:

A+ and A4,713 thousand sqm: B

AverageAsking Lease Price:R$ 61/sqm/month:

A+ and AR$ 40/sqm/month: B

ALPHAViLLE

EXISTING INVENToRY aND aVaIlaBIlITY RaTEThe delivery of Evolution corporate building with 59.000sqm is one of the factors that contributes to a further increase in the availability rate of Alphaville market. The percentage reached 43.6% for classes A+ and A.

Other buildings that have great amount of square meters available for lease still: canopus Alphaville, iTower and Brascan century Plaza.

ToTAL A+ A AND B (EXiSTiNG MARKET)

p. 5 | CollIERS INTERNaTIoNal

MARKET REPORT OfficE | 2nd quarter 2014

NET aBSoRpTIoN aND pRICESUnlike the previous quarter, the net absorption verified was positive in 5,600sqm for classes A+ and A. considering class B, the total was 4.700sqm.

The average asking lease prices can be considered stable. There was a low increase for class B buildings, however, can be caused by the sen-sitivity of Alphaville market that by now has few businesses.

EXiSTiNG iNVENToRY (THoUSAND SQM) X AVAiLABiLiTY RATE (%) A+ AND A

368

Q2

309

Q1

34.5

44

Inventory Availability

380

370

360

350

340

330

320

270

280

290

300

310

50%

45%

40%

30%

35%

20%

25%

10%

5%

15%

0%

-3,2

5,7

A+ and AQ1 Q2

61.84 61.75

38.55R$ 40.00

A+ and A BQ1 Q2

NET ABSoRPTioN BY cLASS (THoUSAND SQM)

AVERAGE ASKiNG LEASE PRicE (R$/SQM/MoNTH)

STaTISTICS TaBlE

SUBMARKET

Alphaville

iNVENToRYA+ AND A

368,340

iNVENToRYB

194,025

AVAiLABiLiTY RATE A+ AND A

43.6%

AVAiLABiLiTY RATE

B

33.1%

AVERAGEASKiNG LEASE

PRicE A+ AND A

R$ 61.75

AVERAGEASKiNG LEASE

PRicE B

R$ 40.00

NET ABSoRPTioN B

4,713

UNDER coNSTRUcTioN AND PRojEcT

221,210

NET ABSoRPTioN A+ AND A

5,655

ToTAL A+ A AND B (EXiSTiNG MARKET)

CollIERS INTERNaTIoNal | p. 6

MARKET REPORT OfficE | 2nd quarter 2014

Average Leasable floor Area (sqm)

Average Unit Leasable Area (sqm)

Average Building Leasable Area (sqm)

Average of floors

floor Type

Building Management System

Parking Ratio per Square Meter of Leasable Area

MAiN cHARAcTERiSTicS

750

300

7,100

12

floor channel/Raised

Optional

1 parking space/44sqm

1,100

700

12,000

12

Raised

Partial

1 parking space/35sqm

1,600

800

28,000

19

Raised

complete

1 parking space/32sqm

BAA+

SoME CHaRaCTERISTICS BY ClaSS

International Airport (Guarulhos) >>22 km

<< Alphaville18 km

Vila Olímpia

JardinsCidade Jardim

Morumbi

Pinheiros

Barra Funda

Itaim

Brooklin

Roque Petroni

Chácara Sto. Antonio

Santo Amaro

Domestic Airport (Congonhas)

Faria Lima

Paulista

Collies International Corporate O�ce

Marginal Pinheiros

Marginal Tietê

Rod. Castelo Branco

Av. N

açõe

s Unid

as

Av. Rebouças

Av. Bandeirantes

MAP of SÃo PAULo SUBMARKETS

p. 7 | CollIERS INTERNaTIoNal

MARKET REPORT OfficE | 2nd quarter 2014

. absorption: Amount of sqm occupied in the previous period

. Development Category: Real estate properties are classified as A+, A, B and c

. Stock / Inventory: Amount of usable constructed area in square meters

. availability Rate: Ratio between area available area and total area

. Ceilings Height: Space between the finished flooring and the 1st structure ceiling interference

. Build-to-Suit: customized construction

REal ESTaTE MaRKET

VoCaBulaRY

•Real Estate investments

•Tenant and Landlord Representation - Leasing, Acquisition and Sale

•Advisory and Disposals for real estate assets and/or portfolios

•Build-to-Suit and Sale & Leaseback Operations

•Lease Administration and Property Management

•Real Estate Valuation for Leasing, Acquisition, Sale and Guarantee

•Market and Technical-financial studies, Highest and Best use studies

•Advisory for investment funds and Private investors

•Green consulting for LEED® certification

Esse documento foi elaborado pela colliers international Brasil. Todas as informações contidas neste documento porderão sofrer alterações sem aviso prévio. A colliers international é uma organização mundial e independente. Esta publicação é de direitos autorais da colliers international e/ou sua licenciadora. © 2013. Todos os direitos reservados.

CollIERS INTERNaTIoNal Do BRaSIl

REal ESTaTE CoNSulTaNCY FoR INDuSTRIal, oFFICE, RETaIl, laND, RuRal, HoTElS, HoSpITalS aND EDuCaTIoNal INSTITuTIoNS

CoNTaCTS

Sao pauloR. Olimpíadas, 20504551-000 Sao Paulo SPTEL +55 11 3323 0000

CampinasR. Dr. Sylvio de Moraes Salles, 9513025-160 campinas SPTEL +55 19 3794 2300

Rio de JaneiroAv. Almirante Barroso, 63 20031-003 Rio de Janeiro RJTEL +55 21 2524 4242

RecifeAv.Gov. Agamenom Magalhães, 4.575 50070-160 Recife PETEL +55 81 3037 2222

FortalezaAv. Dom Luis, 80760160-230 fortaleza cETEL +55 11 8171 2727

More information:

RESEaRCH aND MaRKET INTEllIGENCEresearch@colliers.com

oFFICEoffice@colliers.com

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•US$1,95billioninannualrevenue

•Morethan104millionssqmundermanagement

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CollIERS oppoRTuNITIES

www.colliers.com.br

Accelerating success.

Ed. ChicagoLeasePaulista - SPTotal Area: 2,160sqmRef: 3145

Ed. Memorial office BuildingLeaseBarra funda - SPTotal Area: 2,500sqmRef: 3143

EENu (Espaço Empresarial Nações unidas)Leasechácara Sto. Antonio - SPTotal Area: 3,500sqmRef: 3140

Ed. Tenente NegrãoLeaseitaim Bibi - SPTotal Area: 500sqmRef: 3139

Ed. Bela CintraLeaseBela Vista - SPTotal Area: 3,644sqmRef: 3106

Ed. CeresLeasechácara Sto. Antônio - SPTotal Area: 3,568sqmRef: 3155

Itaim Business CenterLeaseitaim - SPTotal Area: 500sqmRef: 3059

Ed. DoMo Corporate aBCLeaseSão Bernardo do campo - SPTotal Area: 308sqm to 30,600sqm Ref: 3109

REF. 3059 > PARA LOCAÇÃO > EDIFÍCIO

Edifício Itaim Business CenterRUA IAIÁ, 77 - ITAIM BIBI - SP

> Área disponível para locação: de 167 à 333 m²

> 10 andares

> 2 elevadores

> 11 vagas de garagem

OFFICE+55 11 3323 0000SÃO PAULO, SPoffice@colliers.com.br

COLLIERS INTERNATIONAL BRASILRua Olimpíadas, 205 - 1º andar04551-000 São Paulo SPwww.colliers.com.br

O Imóvel

> Forro mineral e piso elevado

> Ar condicionado split

> Arquiteto: Jonas Birger

> Paisagismo: Benedito Abbud

Este documento foi preparado pela Colliers International para efeito de publicidade e informação geral.Colliers International não dá garantias ou representações de qualquer espécie, expressa ou implícita, sobre as informações incluídas, mas não se limitando a garantias de conteúdo, exatidão e confiabilidade. Qualquer parte interessada deve realizar suas próprias investigações sobre a exatidão das informações. Colliers International exclui inequivocamente todos os termos inferidos ou implícitos, condições e garantias decorrentes do presente documento e não assume nenhuma responsabilidade por perdas e danos. Colliers International é uma organização mundial e independente. Esta publicação é de direitos autorais de Colliers International e/ou sua licenciadora. ©2013. Todos os direitos reservados.

COLLIERS INTERNATIONAL BRASILRua Olimpíadas, 205 - 1°andar04551-000 São Paulo SPwww.colliers.com.br

Contato

ESCRITÓRIOS

+ 55 11 3323 0000

SÃO PAULO, SP

office@colliers.com.br

REF. 3106 > PARA LOCAÇÃO > ESCRITÓRIOS

Edifício Bela CintraRUA BELA CINTRA, 445 - SÃO PAULO - SP

O Imóvel

Localização e Referências

> Rua da Consolação ................................................................................... 260 m

> Estação de metrô Paulista ....................................................................... 450 m

> Estação de metrô Consolação ................................................................. 800 m

> Avenida Paulista ........................................................................................1,5 km

©20

13 G

oogl

e, M

apLi

nk

> Edifício em retrofit

> Previsão de entrega: agosto de 2014

> Área privativa: 3.644,19 m² >> Área andar tipo: 331,29 m² >> Área térreo: 897,67 m² >> Áreas do 1º e 2º subsolo: 829 m² cada

> Disponível para locação

> Andares tipo com vão livre OFFICE+55 11 3323 0000SÃO PAULO, SPoffice@colliers.com.br

COLLIERS INTERNATIONAL BRASILRua Olimpíadas, 205 - 1º andar04551-000 São Paulo SPwww.colliers.com.br

REF. 3155 > PARA LOCAÇÃO > ESCRITÓRIOS

Edifício CeresRUA JOSÉ GUERRA, 626 - SÃO PAULO - SP

O Imóvel

> Área construída: 3.568,75 m²

> Edifício monousuário

> Número de andares: 3

>> Térreo + 2 andares

> Vagas de garagem: 38

> Elevador: 1

> Ar condicionado central

> Piso elevado

> Forro e luminárias

> Gerador para área total