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Real Estate > Brazil > Commercial > office property > rented to banks
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real estate - Brazil - contact |
Recent Office building - rented to Banco Real (ABN Amro) - rented at 12% p.a. |
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This property consists of a recent, independent building; each floor about 380m². Most of it is rented to Banco Real (ABN Amro Bank) for 39000R$/month; one other floor has just been vacated but will rent for about 7500R$. The building is only 5 years old and finished to good standards, with elevators; 16 bathrooms, and 30 parking spots on 890m² of land. The asking price is R$4.6 million (about $2 million); i.e. the rent will be just over 1% per month (even today with one floor empty the yield is about .85% - 10% per year). The bank has just renewed its lease for a second 5 year period and has invested in sophisticated interior and security features. The location is in a business district that forms the natural extension of the modern Berrini/Nações Unidas growth axis. In fact, prices in this district have gone up 16% last year; one of the best growth rates of São Paulo. It's located in an avenue that hosts about 90 multinational companies; just 2 blocks away from the American Embassy and Chamber of Commerce.
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