Insurance Giant, Sulamérica, Moves to Increase Real Estate Efficiency & Reduce Operating Costs
Studley brokers strategic 155,000 square-foot lease in which SulAmérica occupies the complete building at Rua do Pinheiros 1673
São Paulo, Brazil (November 4, 2013)
In a strategic move, insurance company SulAmérica has signed a 10 year, 155,000 square-foot lease to relocate its headquarters to Rua do Pinheiros 1673.
Following an extensive stay-or-go analysis on behalf of the insurance company, the leading commercial real estate services firm specializing in tenant representation, Studley, determined the relocation to a new, modern and centrally located building would both increase efficiency, and reduce operating costs. The new headquarters location positions SulAmérica close to public transportation options and among numerous restaurants and retail stores. The company, which currently has 190,000 square feet across eight floors, will move to occupy all 13 floors of their new headquarters, leasing 155,000 square feet.
José Luis Barros, General Manager of Studley AOS Brazil, represented the tenant in the long-term leasing transaction.
After extensive research and analysis of SulAmérica’s existing real estate, Barros worked to find new opportunities to reduce their operating costs while maintaining a convenient location for employees. “The newer building provides the client with more amenities and greater space efficiency which, ultimately, enabled us to decrease the overall square footage,” Barros said. “The decrease of nearly 30,000 square feet reduced SulAmérica’s real estate operating costs and allowed the company to redistribute resources to other areas of their business.”
SulAmérica is the largest independent insurer in Brazil. With over 7 million customers, SulAmérica operates in the following segments: Health and Dental Insurance, Automobile Insurance and Casualty, Life Insurance and Personal Accidents, Private Pension, Asset Management, and capitalization.
Studley is the leading global commercial real estate services firm specializing in tenant representation. Founded in 1954, Studley pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. The company manages international assignments through AOS Studley, a Paris-based affiliate with more than 600 clients in 20 countries. Today, with over 60 offices worldwide, Studley provides strategic real estate solutions to top-tier corporations, not-for-profit organizations and law firms. For more information, please visit www.studley.com.
SulAmérica, the largest independent Brazilian insurer, was founded in 1895. With over 6,7 million customers, the company operates in six segments: Health and Dental; Auto; Property and Casualties; Personal Insurance (Life and Personal Accidents) and Private Pensions; Assets Management and Capitalization. Since October of 2007, it is part of the Level 2 of the Different Practices of Corporate Governance from BM&FBovespa. In 2012, the company registered R$ 10,6 billion in premium, which represents a growth of 12,5% over the previous year. Until 2013 second quarter, revenues from premiums reached R$ 5,8 billion and R$ 76,0 million of net income.