Alphaville receives wave of commercial launches
Valor Econômico
In an attempt to find new trade routes to install its glass-filled skyscrapers, the large commercial building constructors start seeking - and successfully creating - other frontiers for growth. In view of the saturation and of the high prices of consecrated addresses such as Faria Lima, Paulista and Berrini, the real estate developers are beginning to move, for example, towards Marginal Pinheiros, in the region of the João Dias Bridge, in São Paulo. But the large area chosen is the region of Alphaville and Tamboré - which until 2014 will have more than 700 thousand square meters of high standard commercial buildings. More than the current area in Berrini, which, alone, features nearly 480 thousand square meters of corporate buildings like to best ones in the world.
The companies are active and they are looking at lands in the South side of the city of São Paulo, in the region of Alto da Boa Vista, but they have not yet started the construction of the great towers because the option of services is still limited. Little before such new area, WTorre and BTG Pactual became partners for the construction of what will be the largest commercial building in São Paulo behind Shopping Morumbi. But it is in Alphaville, the first axis of development outside the capital that the constructions are at full steam. The region attracted, at a single time, all major developers: Odebrecht Realizações Imobiliárias, Tishman Speyer, Brookfield and Vemonte. The profile of the region, predominantly residential, with industries, warehouses and logistics centers, is changing rapidly.
According to a survey of CB Richard Ellis, until 2008, the new office spaces available in Alphaville grew 6% a year, on average. As of 2008, the annual growth rate exceeded 20%. Between 2008 and 2010, the total volume of corporate buildings grew 44%, also according to the consulting firm. Three big names are already installed in Alphaville: Amil (which leased 13 thousand square meters); Philips, which transferred its headquarters there and rented 10 thousand square meters; and Redecard. "A few years ago, it would be unthinkable for a company like Redecard, whose systems cannot ever fail, to move there", says Adrian Sartori, Rental Director of CB Richard Ellis.
The arrival of two major malls to the region of Alphaville - Iguatemi and General Shopping (owned by Brascan) - and the infrastructure available are considered major factors of attraction for the new tenants. But what really counts is the price - besides the reduced ISS (Service Tax). For a long time, the square meter of office space was rented between R$ 30 (US$ 17.60) and R$ 40 (US$ 23.50). Last year, the lease contracts for offices on high standard buildings (the so-called triple A) ranged between R$ 55 (US$ 32.40) and R$ 60 (US$ 35.30). Now there are rumors of more than R$ 60 (US$ 35.30). Still, it is much less than in the main regions of São Paulo, where the prices range from R$ 100 (US$ 58.80) to R$ 150 (US$ 88.20) per square meter. Obviously, such price increase has already reflected in the prices of the land, which quickly increased from R$ 1.5 thousand (US$ 882.4 thousand) to R$ 2.5 thousand (US$ 1.47 thousand) to R$ 3 thousand (US$ 1.76 thousand) per square meter.