SAO PAULO, Brazil—In a strategic move, insurance company SulAmérica has signed a 10 year, 155,000 square-foot lease to relocate its headquarters to Rua do Pinheiros 1673.
Following an extensive stay-or-go analysis on behalf of the insurance company, the leading commercial real estate services firm specializing in tenant representation, Studley, determined the relocation to a new, modern and centrally located building would both increase efficiency, and reduce operating costs. The new headquarters location positions SulAmérica close to public transportation options and among numerous restaurants and retail stores. The company, which currently has 190,000 square feet across eight floors, will move to occupy all 13 floors of their new headquarters, leasing 155,000 square feet.
José Luis Barros, general manager of Studley AOS Brazil, represented the tenant in the long-term leasing transaction.
After extensive research and analysis of SulAmérica's existing real estate, Barros worked to find new opportunities to reduce their operating costs while maintaining a convenient location for employees. “The newer building provides the client with more amenities and greater space efficiency which, ultimately, enabled us to decrease the overall square footage,” Barros said. “The decrease of nearly 30,000 square feet reduced SulAmérica's real estate operating costs and allowed the company to redistribute resources to other areas of their business.”
SulAmérica is the largest independent insurer in Brazil. With over 7 million customers.
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