Brazilian Office Lease—Nearly a Million SF

BRASILIA, BRAZIL-Tishman Speyer says that Banco do Brasil has completed a lease agreement to consolidate its headquarters at Green Towers Brasilia, which is currently under development.

The deal calls for the giant financial institution to move into the project's three office towers as they are completed in 2014, 2015 and 2016.

The lease totals 88,514 square meters – approximately 953,000 square feet – and is the largest ever signed by Tishman Speyer.

The Green Towers Brasilia project, designed by internationally-renowned Arquitetonica, is located in Brasilia's Federal District, just north of other banking sector facilities and only minutes from the region's international airport. When completed, the project promises to be the Brazilian capital's most striking business setting. It will be the first LEED-registered sustainable class AAA project in the nation's capital and will feature the largest green wall of its kind in Latin America, soaring over 197 feet.

The transaction announced Wednesday follows another large lease commencement in São Paulo, with Itaú BBA, the investment bank of group Itaú Unibanco, recently moving into 25,686 square meters – approximately 276,000 square feet – of office space at Tishman Speyer's Faria Lima development.

“We are extremely pleased to welcome Banco do Brasil as our sole office tenant at Green Towers Brasilia,” said Tishman Speyer Co-CEOs Jerry and Rob Speyer in a statment. “We continue to seek world-class companies as anchor tenants at our major development projects throughout the world. Banco do Brasil and Itaú BBA are leading financial institutions in one of the world's most dynamic economies and we look forward to serving their needs going forward.”