Market Report -- Sao Paulo, Brazil

Market Research

Properties

Sao Paulo, Brazil

Metropolitan Area Economic Overview
Calculations for all indices were provided by SRC, LLC

Market Research provided by NAI Commercial Properties Brazil
Last Updated: 25-Oct-2010

* Click on each category for a detailed definition.

	Rent/M2/Month			RENT/SF/Year
	Low	High	Effective Avg.	Low	High	Effective Avg.	Vacancy	Investment Yield
Downtown Office
New Construction (AAA)	BRL 110.00	BRL 150.00	BRL 130.00	$ 72.99	$ 99.54	$ 77.38	4.0%	10.0%
Class A (Prime)	BRL 100.00	BRL 130.00	BRL 115.00	$ 66.36	$ 86.27	$ 68.45	5.5%	10.0%
Class B (Secondary)	BRL 80.00	BRL 120.00	BRL 100.00	$ 53.09	$ 79.63	$ 59.52	6.0%	10.0%

Suburban Office
New Construction (AAA)	BRL 60.00	BRL 75.00	BRL 67.50	$ 39.82	$ 49.77	$ 40.18	8.0%	10.0%
Class A (Prime)	BRL 60.00	BRL 70.00	BRL 65.00	$ 39.82	$ 46.45	$ 38.69	9.0%	10.0%
Class B (Secondary)	BRL 60.00	BRL 70.00	BRL 65.00	$ 39.82	$ 46.45	$ 38.69	9.0%	10.0%

Industrial
Bulk Warehouse	BRL 19.00	BRL 26.00	BRL 22.50	$ 12.61	$ 17.25	$ 13.39	9.5%	10.0%
Manufacturing	BRL 18.00	BRL 22.00	BRL 20.00	$ 11.94	$ 14.60	$ 11.90	8.0%	10.0%
High Tech / R&D	BRL 18.00	BRL 24.00	BRL 21.00	$ 11.94	$ 15.93	$ 12.50	8.5%	10.0%

Retail
Downtown	BRL 40.00	BRL 190.00	BRL 115.00	$ 26.54	$ 126.08	$ 68.45	5.5%	11.0%
Neigborhood Service Centers	BRL 60.00	BRL 120.00	BRL 90.00	$ 39.82	$ 79.63	$ 53.57	7.5%	11.0%
Community Power Center	BRL 60.00	BRL 150.00	BRL 105.00	$ 39.82	$ 99.54	$ 62.50	6.0%	11.0%
Regional Malls	BRL 150.00	BRL 400.00	BRL 275.00	$ 99.54	$ 265.44	$ 163.69	7.5%	11.0%

Development Land	Low/ M2	High/ M2	Low/Acre	High/Acre
Office in CBD	N/A	N/A	N/A	N/A
Land in Office Parks	N/A	N/A	N/A	N/A
Land in Industrial Parks	N/A	N/A	N/A	N/A
Office/Industrial Land - Non-park	N/A	N/A	N/A	N/A
Retail/Commercial Land	N/A	N/A	N/A	N/A
Residential	N/A	N/A	N/A	N/A

Conversion 1.68BRL = 1 US$

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