Rental portfolio renewed in RioLeitura de 4min
Developments in Rio de Janeiro are part of the JLL portfolio.
Three new developments in Rio de Janeiro have been added to the JLL portfolio at the start of 2013, all for immediate rental. Two are located in the Centro (central area) of the city, near to Cinelândia and metro (subway) stations and just five minutes from the Santos Dumont airport. They are the Passeio 56 building (6,400 m2) and the Panorama building (5,800 m2). The other development ready for rental is the AlphaBusiness space, with 4,400 m2, located on Av. Ayrton Senna in the Barra da Tijuca neighborhood.
According to the On.Point study conducted by JLL, some expected new space had its delivery date pushed back to the first quarter of this year. This resulted in expected delivery to market of 129,700 m² in the first quarter, while expected delivery for the full year of 2013 was 238,200 m². Around 90% of this falls into the Class AA category and more than 55% is located in the Centro region.
The Barra da Tijuca region saw the absorption of some corporate space, resulting in a fall in the vacancy rate in the fourth quarter to end the year at 15.6%.