Avenida Paulista is the darling of São Paulo once againLeitura de 5min
Avenida Paulista regains its status as the leading picture postcard of São Paulo and becomes one of the most attractive spots for investors in the retail sector.
As the principal picture postcard of São Paulo, Avenida Paulista is the stage for the most important cultural and business events in the state. Recently, however, the business aspect has been diminishing somewhat in importance, mainly because of the lack of land for building new commercial developments in the region, and the rise in value of areas around Avenida Faria Lima.
However, bearing in mind the saying that “a king never loses his majesty,” Avenida Paulista has been regaining its former glory. The area has attracted new investments, thanks to the well-policed streets, the good, flat and wide sidewalks for pedestrians, the variety of public transport options and the concentration of universities and cultural centers, among other factors.
“The avenue has become a prized area for large retail companies, significantly driving up rental prices,” says Alex Cesar, business manager of the Retail Division at JLL. “Today, the average cost for a store exceeds R$200/m².”
Regardless of the recent scenario, Avenida Paulista retains the top spot among the primary areas that concentrate most offices in São Paulo, followed by Faria Lima, Itaim, Vila Olímpia and Berrini. This characteristic, published in JLL’s internal Market Overview study, reinforces another factor that makes the location attractive for retailers: the high circulation, with daily traffic of about 1.5 million people of all social classes.
“Today there is no part of Avenida Paulista that has greater or lesser value,” Cesar observed.
This trend is visible all along the avenue. It can be seen in the Shopping Pátio Paulista, a mall, where more than 60 stores were put on the market in its expansion process and all were snapped up immediately. Today there are a considerable number of major retail brands and entrepreneurs waiting for an opportunity to join the brands that are already present on the avenue, including Marisa, Renner, Camisaria Colombo, Livraria Cultura and Brooksfield, among others,” he added, emphasizing that JLL has been closely monitoring the movement of the market.
“There’s no doubt that Avenida Paulista is today one of the most important and emblematic avenues in Latin America, the equivalent of the Champs-Elysees for Paris.”