Tishman Speyer Announces another Major Lease at Rio de Janeiro Office Development

Rob Speyer: “Tishman Speyer has developed a portfolio of outstanding office properties in cities such as Rio de Janeiro that drive national and international economies.”

Rio de Janeiro, Brazil, March 11, 2010 – Tishman Speyer announced today that The National Bank for Economic and Social Development (BNDES) has signed a five-year lease agreement for approximately 219,830 square feet (20,423 square meters) at the Ventura Corporate Towers in downtown Rio de Janeiro. The lease accounts for nearly half of Tower 2, which will be completed in June 2010.

BNDES already is a tenant at Tower 1, occupying 79,340 square feet. That part of the connected property was completed in 2009 and is 85 percent leased to Petrobras, which signed on for 474,500 square feet in 2009.

Ventura Corporate Towers is a world-class development that, upon completion, will consist of two 36-story office buildings and will be the region’s largest and highest quality office property. It offers striking architectural elements, spectacular views, large floor plates, natural lighting, layout flexibility and the most up-to-date infrastructure. It is located close to the area’s other major corporate centers and to the Santos Dumont Airport. In addition to convenient highway access, the project is well served by public transportation.

Daniel Cherman, Managing Director and Brazil Country Head for Tishman Speyer, commented, “A healthy Brazilian economy has created considerable pent-up demand for international-quality office space in Rio de Janiero and other major Brazilian markets, resulting in strong leasing activity. Our timing in delivering projects such as Ventura Corporate Towers has worked out extremely well.”

Senior Managing Director Katherine Farley commented, “In our 13 year history in Brazil, we have established Tishman Speyer (http://www.tishmanspeyer.com/about/team.aspx) as one of the country’s leading real estate developers and owners of class AA commercial properties, as well as one of the premier developers of luxury residential properties. We have built an outstanding and experienced team whose work is supported by Tishman Speyer’s global resources and network of multinational tenants. We plan to expand our recent record of successes as we continue to pursue our business plan.”

“Tishman Speyer has developed a portfolio of outstanding office properties in cities such as Rio de Janeiro that drive national and international economies,” said Rob Speyer (http://www.tishmanspeyer.com/About/who.aspx), Tishman Speyer President & Co-CEO. “Our extraordinarily strong global leasing results over the past nine months clearly demonstrate that we have ideally positioned our platform to respond to the increasing need for corporate relocations and expansions by premium business organizations planning for long-term growth.”

About Tishman Speyer

Tishman Speyer (http://www.tishmanspeyer.com) is one of the leading owners, developers, operators, and fund managers of first-class real estate in the world. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and a property portfolio of over US$54.2 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York’s Rockefeller Center and Chrysler Center, Berlin’s Sony Center and Torre Norte in São Paolo, Brazil.

The firm’s Brazil portfolio includes two major office complexes that hold LEED Gold certification — the Ventura Corporate Towers in Rio de Janeiro, and the Rochaverá Corporate Towers, in São Paulo.

In addition to Ventura Corporate Towers, the firm is developing two important corporate projects in Rio de Janeiro’s marketplace — the Presidente Vargas building and the Edifício Sul América retrofit. The three projects account for over 1.5 million square feet of office space (142,000 square meters) to be delivered by 2011, considerably more that the rest of the market combined last year, according to Cushman & Wakefield.

{Via PR Log}

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