Barra Funda is an investment magnet for commercial propertyLeitura de 5min
JLL’s research reveals that the number of commercial enterprises in Barra Funda is increasing.
Commercial and residential buildings and infrastructure investments are changing the face of Barra Funda, a region that used to be regarded as one of the most industrialized in São Paulo. Located on the west side the São Paulo state capital, this traditional neighborhood today finds favor with real estate entrepreneurs who are interested in diversifying their portfolios. Why is that? The answer lies in the good location. Barra Funda is close to Perdizes, Lapa, Pompéia, Campos Elíseos and Bom Retiro, with easy access provided by the various public transportation options (buses, trains and the Metrô, or subway) and the good connections to major corridors and state highways.
“The region also has several private universities; it’s a focus for urban development and high-profile cultural facilities such as the Memorial to Latin America,” explained Marcelo Sasaki, research manager at JLL. The company’s latest study showed a growing number of commercial developments in Barra Funda, and the trend is likely to continue in coming years.
This process started in 2006 and has accelerated since then. The region represents a competitive corporate option when compared to other more sought-after areas of the capital, and rental prices are on average 35% lower,” Sasaki said.”
Sasaki noted that Barra Funda offers businessmen a smaller supply of high-end corporate floors, compared to the principal regions of São Paulo, because it is still undergoing development. “This demonstrates potential that can be exploited by investors,” he said. Corporate space in the neighborhood is currently occupied by the back offices of large corporations, contact centers, the offices of audit and consulting firms, communications companies and printers.
Rather than seeing an increase in the presence of companies such as these, Barra Funda will tend to become a focus of attraction for other segments, for example credit card operators, companies in telecommunications, information technology and insurance, and builders and developers.
Business Centers have gained space in the local market in recent years, but now Barra Funda is starting to receive commercial and residential complexes such as the Francisco Matarazzo project, which is scheduled to open by the end of 2013,” Sasaki said.