São Paulo

BOMA

Space Measurement Standard

SQMT

SQFT

Space Unit of Measure

BRL

Convert currency to:
ALL - Albanian Lek
ARS - Argentine Peso
AUD - Australian Dollar
BRL - Brazilian Real
BGN - Bulgarian Lev
CAD - Canadian Dollars
CLP - Chilean Peso
CNY - Chinese Yuan Renminbi
COP - Colombian Peso
CRC - Costa Rican colón
HRK - Croatian Kuna
CZK - Czech Koruna
DKK - Danish Krone
EGP - Egyptian Pound
AED - Emirati dirham
EUR - Euro
HKD - Hong Kong Dollar
HUF - Hungarian Forint
INR - Indian Rupee
IDR - Indonesian Rupiahs
ILS - Israeli new shekel
JPY - Japanese Yen
KRW - Korean Won
MXN - Mexican Peso
MAD - Moroccan Dirham
TWD - New Taiwan Dollar
NOK - Norwegian Kroner
PAB - Panamarian Balboa
PEN - Peruvian Sol
PLN - Polish Zloty
GBP - Pound Sterling
RON - Romanian Leu
SAR - Saudi riyal
RSD - Serbian Dinar
ZAR - South African Rand
SEK - Swedish Krona
CHF - Swiss franc
THB - Thai Baht
TRY - Turkish Lira
UAH - Ukrainian Hryvnia
USD - US Dollars

Financial Data Currency

Yes

Transfer Taxes

Notes:

Lease contracts cannot be drafted or set in a different currency besides BRL

Office Occupier Market Condition

Occupier Market Conditions Labor Cost Tenant Favorable

Occupier Market Conditions – How conducive is the regulatory environment to starting and operating a business. Source: Colliers

Labor Cost – Wages for skilled office workers. Source: City Globe and Colliers

Tenant Favorable – Assessment of the real estate market condition for office space. Source: Colliers

Quadrant Legend: Blue = Favorable Medium Blue = Neutral Red = Less Favorable

Typical Loss Factor

From rentable to useable square meters

Loss Factor Notes:

*Considering Private Area, bathrooms at core and office buildings

Landlord Concessions

Fit-Out Concession

The Landlord typically does not provide a contribution or concession to fit-out as a part of the lease transaction.

Amount of Fit-Out Concession

Typical range of fit-out contribution.

Rent-Free Period

The Landlord typically provides a contribution or concession in the form of a rent-free period.

Standard Range of Rent-Free Months

Typical number of rent-free months.

Rent-Free Period Notes:

There is no a standard number of months it all depends on what was negotiated and lease term lenght

Tenant Rep Broker Fee (New Leases)

The Landlord typically pays the tenant rep broker’s fee.

Tenant Rep Broker Fee (Renewals)

The Tenant typically pays the tenant rep broker’s fee.

Payment of Fees/Commissions Notes:

In Lease Renegotiations a fixed fee may be used, or a minimum fee plus a variable success fee.

Lease Provisions

Lease Term

Typical lease term in years.

Operating Expenses & Service Charges Included

Quoted market rent typically does not include operating expenses (service charges). There are additional charges that apply to leasing space.

Additional Charges

Estimated range for all additional charges per Square Meters.

Additional Charges:

Utilities

Service Charges

Stamp Duty

Electric

Rates

HST

Cleaning

Hydro

Registration Fees

Taxes

Insurance

VAT

Other

Service Charge Notes:

Common area. Man power and consumables. Electric boards, panels, generators, UPS, lamps.

Lease Fundamentals: The following apply to both office and industrial leases.

Lease Execution Requirements:

Typical upfront requirements

None for strong credit tenants

Upfront rental payment

Security deposit

Corporate guarantee

Not Applicable

Requirements Notes:

Guaranty, bail bond, bail bond security, assignment of fiduciary shares of investment funds. (Law 8245/91)

Negotiated Subletting/Assignment

Typically, the tenant's right to sublease or assign the space is negotiated in the lease agreement.
Landlord Consent: Typically, the landlord's written consent IS still required.

Negotiated Subletting/Assignment Notes:

Except when the prohibition is formally written in the contract.

Statutory Subletting/Assignment

This IS a statutory right.
Landlord Consent: The Landlord's consent is still required.

Blend & Extend Strategies

Typically, a tenant can take advantage of "blend & extend" ("forward renewal", "early renewal", etc.) strategies when the appropriate market conditions exist.

Statutory Early Termination

This IS a statutory termination right.

Negotiated Early Termination

It IS typical for tenants to be able to negotiate an early termination right in the lease agreement.

Early Termination Notes:

Typical cost: 3-6 months proportional to what would be the rest of the contract and return of discounts and grace period.

Workplace

Regional Office Space

Typical Square Meters per employee (includes office square footage for employees and contractors).

Regional HQ Office Space

Typical Square Meters per employee (includes office square footage for employees and contractors).

Desk Sharing

Desk-sharing is a common practice in the market.

Desk Sharing Notes:

The practice is more common nowadays. Hotelling systems are in place at a larger number of companies.

Industrial Occupier Market Condition

Occupier Market Conditions Labor Cost Tenant Favorable

Occupier Market Conditions – How conducive is the regulatory environment to starting and operating a business. Source: Colliers

Labor Cost – Wages for manuafacturing and warehouse/distribution office workers. Source: City Globe and Colliers

Tenant Favorable – Assessment of the real estate market condition for industrial space. Source: Colliers

Quadrant Legend: Blue = Favorable Medium Blue = Neutral Red = Less Favorable

Landlord Concessions

Fit-Out Concession

The Landlord typically does not provide a contribution or concession to fit-out as a part of the lease transaction.

Rent-Free Period

The Landlord typically provides a contribution or concession in the form of a rent-free period.

Standard Range of Rent-Free Months

Typical number of rent-free months.

Rent-Free Notes:

Depends on lease term length

Tenant Rep Broker Fee (New Leases)

The Landlord typically pays the tenant rep broker’s fee.

Tenant Rep Broker Fee (Renewals)

The Tenant typically pays the tenant rep broker’s fee.

Payment of Fees/Commissions Notes:

In Lease Renegotiations a fixed fee may be used, or a minimum fee plus a variable success fee.

Lease Provisions

Lease Term

Typical lease term in years.

Lease Term Notes:

Typical lease is 5 years.

Operating Expenses & Service Charges Included

Quoted market rent typically does not include operating expenses (service charges). There are additional charges that apply to leasing space.

Additional Charges

Estimated range in total for all additional charges per Square Meters.

Additional Charges:

Utilities

Service Charges

Stamp Duty

Electric

Rates

HST

Cleaning

Hydro

Registration Fees

Taxes

Insurance

VAT

Other

Service Charge Notes:

Cleaning, electric and Hydro in common area.

Lease Fundamentals: The following apply to both office and industrial leases.

Lease Execution Requirements:

Typical upfront requirements

None for strong credit tenants

Upfront rental payment

Security deposit

Corporate guarantee

Not Applicable

Requirements Notes:

Guaranty, bail bond, bail bond security, assignment of fiduciary shares of investment funds. (Law 8245/91)

Negotiated Subletting/Assignment

Typically, the tenant's right to sublease or assign the space is negotiated in the lease agreement.
Landlord Consent: Typically, the landlord's written consent IS still required.

Negotiated Subletting/Assignment Notes:

Except when the prohibition is formally written in the contract.

Statutory Subletting/Assignment

This IS a statutory right.
Landlord Consent: The Landlord's consent is still required.

Blend & Extend Strategies

Typically, a tenant can take advantage of "blend & extend" ("forward renewal", "early renewal", etc.) strategies when the appropriate market conditions exist.

Statutory Early Termination

This IS a statutory termination right.

Negotiated Early Termination

It IS typical for tenants to be able to negotiate an early termination right in the lease agreement.

Early Termination Notes:

Typical cost: 3-6 months proportional to what would be the rest of the contract and return of discounts and grace period.

Project Management

Section 1. Fit Cost Data

Total Fit-Out Cost

Class A Office

Class B Office

Flex Office / Warehouse

Warehouse

Total Fit-Out Cost Notes:

The fit-out cost refers to the total cost of design, construction, and installation for a space. It includes categories such as materials, labor, furniture, fixtures, equipment, finishes and other related costs. The specific factors influencing the total fit-out cost can vary widely depending on the project scope, location, size of the space, quality of materials, and complexity of design.

Furniture Cost

Class A Office

Class B Office

Flex Office / Warehouse

Warehouse

Furniture Cost Notes:

These costs are included in the Total Fit-Out costs.

Low Voltage Cabling Cost

Class A Office

Class B Office

Low Voltage Cabling Cost Notes:

These costs are included in the Total Fit-Out costs.

Construction to Move-in Cycle Time

Class A Office

Class B Office

Flex Office / Warehouse

Cycle Cost Notes:

Considering 1,000 sqm standard corporate Project & 5,000 sqm for a warehouse

Project Management Base Fee

Base fee [%] for the fitout of above office of 1000 m2.

Section 2. Scope of Work Description

Phase 1: Services Before and During the Transaction

Review the LOI and work letter portion of the Lease to ensure that the clients interests are protected during the build-out of the project.

Typically included in "Project Management" scope of work.

Advise Colliers broker and client on project issues and their resolution as they occur.

Typically included in "Project Management" scope of work.

Participate in building tours, if requested, to evaluate building systems and other cost-related observations and prepare a building due diligence report

Typically included in "Project Management" scope of work.

Develop high-level project estimate and timeline based on test fit and Client standards

Typically included in "Project Management" scope of work.

Schedule and chair Schematic Drawings and Design Development Drawings review meetings/conference calls

Typically included in "Project Management" scope of work.

Define workplace strategy for client, research what kind of location, office / work environment accelerates business

Not typically included at all, but available for an additional fee.

Define program of requirements for location, building and interior characteristics

Typically included in "Project Management" scope of work.

Engage with the Client Facilities Management (FM) Operations team to ensure alignment with Client standards

Typically included in "Project Management" scope of work.

Test fits for different building options

Not typically included at all, but available for an additional fee.

Negotiation of technical agreements in the lease contract + hand over inspection and agreement

Typically included in "Project Management" scope of work.

Perform Test-fit

Not typically included at all, but available for an additional fee.

Phase 1 Notes:

Reviewing the LOI and advising Colliers brokers and clients on project issues are on a case by case and not always possible depending on synergies with TM teams.

A PM is usually available during a building tour, but evaluations/DD/surveys are charged separately.

We do provide high-level cost/time parameters based on our team's experience. Further analysis such as feasibility studies (test-fits, detailed cost estimates, Project dedicated timelines, etc.) are charged separately.

Phase 2: Service Before and During the Design Process

Develop preliminary project budget and schedule.

Typically included in “Design/Build” scope of work.

Develop the RFP for selection of a space planner/architect and any other consultants identified and required

Typically included in "Project Management" scope of work.

Analyze, compare and evaluate responses to the RFP.

Not typically included at all, but available for an additional fee.

Orchestrate the space planner/architect interview process.

Typically included in "Project Management" scope of work.

Negotiate, on behalf of the client, professional services agreements with the space planner/architect and other consultants.

Typically included in "Project Management" scope of work.

Review architect’s final Program of Requirements.

Typically included in "Project Management" scope of work.

Monitor the design team’s schedule of deadlines and deliverables. Coordinate meetings with the design team and the client. Manage the design process on behalf of the client.

Typically included in "Project Management" scope of work.

Review and recommend payment of the invoices for services. Submit invoices for payment to landlord or client and prepare monthly reports of project costs versus project budget.

Typically included in "Project Management" scope of work.

Negotiate all client-vendor contractors (IT, AV, Security/Access Control, Signage, High Density Filing) on behalf of client.

Typically included in “Design/Build” scope of work.

Coordinate with either Architect or General Contractor in permitting process

Typically included in "Project Management" scope of work.

Schedule and chair weekly design review meetings/conference calls

Typically included in "Project Management" scope of work.

Other Value-Add Services: Test fits (including Look & Feel) - Cost Estimates - Schedule/timing/phasing scenarios - Floor plan, core and circulation efficiency ratios(GIA vs NIA) (NOA vs NIA) - Technical due diligence/Assessments - We may pack everything into a Feasibility Study or proposed them separately depending on the situation.

Not typically included at all, but available for an additional fee.

Define interior guidelines for architect based on workplace strategy

Not typically included at all, but available for an additional fee.

Control workplace strategy and functionality and during design process

Not typically included at all, but available for an additional fee.

Architectural design

Not typically included at all, but available for an additional fee.

Phase 2 Notes:

Depending on project complexity and overall project timing additional fees may be requested (to be assessed on a project-by-project basis).

Analyzing, comparing and evaluating responses to the RFP included for GC's & Furniture RFPs.

For A/E RFPs, depending on project complexity and overall project timing, additional fees may be requested (to be assessed on a project-by-project basis). Trips excluded.

Fees are based on the involvement of A/E team, General Contractor and not separate bids/purchases, with a flexibility on Carpet and furniture.

We shall also recommend if and expeditor is to be involved (at client cost and no Colliers liability).

Architectural design depends on project size and location.

Phase 3: Services Before Construction

Liaise with the Landlord’s Representative.

Typically included in "Project Management" scope of work.

Prequalify a list of general contractors to be interviewed (consult lease to confirm any Landlord required GCs).

Typically included in "Project Management" scope of work.

Develop the RFP, including Landlord and/or Lease required documents, for selection of a general contractor.

Typically included in "Project Management" scope of work.

Analyze, level, and evaluate the responses to RFP.

Typically included in "Project Management" scope of work.

Orchestrate general contractor interview process and prepare evaluation scorecard.

Typically included in "Project Management" scope of work.

Review all proposed subcontractors and monitor the general contractor’s subcontractor bid process to ensure integrity of the process and quality of the workmanship.

Not typically included at all, but available for an additional fee.

Monitor the general contractor’s schedule of deadlines and deliverables. Coordinate meetings between the design team, general contractor, client and appropriate vendors.

Typically included in "Project Management" scope of work.

Negotiate, on client's behalf, the General Contractor agreement for Client approval

Typically included in "Project Management" scope of work.

Schedule and coordinate Architect's 90% Construction Drawings review

Typically included in "Project Management" scope of work.

Develop Project Cost Summary + Invoice Tracker and update weekly

Typically included in "Project Management" scope of work.

Phase 4: Services During Construction

Coordinate with the Landlord’s Representative.

Typically included in "Project Management" scope of work.

Conduct weekly construction meetings to assess progress, quality and conformance with the Contract Documents and distribute minutes of meetings.

Typically included in "Project Management" scope of work.

Monitor the general contractor’s schedule.

Typically included in "Project Management" scope of work.

Monitor the construction budget.

Typically included in "Project Management" scope of work.

Review, and recommend for payment, the contractor’s Applications for Payment.

Typically included in "Project Management" scope of work.

Monitor all project documentation.

Typically included in "Project Management" scope of work.

Act at all times as client’s liaison to vendors contracted directly by Client (IT, AV, Security/Access Control, Signage).

Typically included in "Project Management" scope of work.

Oversee the punch list process to ensure acceptable completion of all items.

Typically included in "Project Management" scope of work.

Close out all consultant, contractor and vendor contracts.

Typically included in "Project Management" scope of work.

Submit General Contractor, vendor, and consultant invoices to Landlord for reimbursement per the Lease Workletter

Not typically included at all, but available for an additional fee.

Review and recommend for payment all General Contractor, vendor, and consultant invoices; submit to Client for approval

Typically included in "Project Management" scope of work.

Deliver close-out documents, as specified in the Lease, to Client

Typically included in "Project Management" scope of work.

Coordinate value/engineering process, if required.

Typically included in "Project Management" scope of work.

Provide as-built drawings and O&M Manuals to Client FM Operations team

Typically included in "Project Management" scope of work.

Phase 4 Notes:

When acting as client's liaison to vendors, additional fees may be required depending on the amount of vendors/subcontractors involved. We typically include, A/E, GC, Carpet & Furniture.

Submitting GC, vendor and consultant invoices are not typical in LATAM markets and does not necessarily imply extra fees. TBD on a case-by-case basis.

Additional Services: Services During Relocation

Develop RFP for moving companies, evaluate responses and recommend selection of moving company or identify, interview and review proposal for services from relocation consultants.

Not typically included at all, but available for an additional fee.

Represent Client in development of move strategy.

Not typically included at all, but available for an additional fee.

Monitor development of move activity checklist.

Not typically included at all, but available for an additional fee.

Represent client on site during move process.

Not typically included at all, but available for an additional fee.

Additional Services: Project Management Services Related to Furniture/Workstation Procurement

Conduct bid process for all furniture (workstations, case goods, seating, filing) purchases specified by the architect and/or client.

Typically included in "Project Management" scope of work.

Conduct bid process for refurbishment of existing furniture and/or workstations.

Not typically included at all, but available for an additional fee.

Evaluate bids and negotiate purchase order with manufacturer(s).

Typically included in "Project Management" scope of work.

Negotiate national buying contract with select furniture dealerships, using Colliers International purchasing power

Not typically included at all, but available for an additional fee.

Change management before, during and after moving to the new work environment

Not typically included at all, but available for an additional fee.

Measuring/monitoring (KPI's) how the way of working and building accelerates business and goals of the client

Not typically included at all, but available for an additional fee.

Additional Services Notes:

Alliances with national and international suppliers.

Have special discounts for Colliers managed projects mostly from carpets and furniture global brands

Parallel work between the brokerage and project phases, to get costs and time reductions.

Knowledge of market practice.

EHS Manuals Compliance with local and international EHS policies.

Operating Environment Rankings reported on a scale of 1 (least favorable) to 10 (most favorable).

Human Capital

7/10

Labor Force Growth
Labor force growth rate (past 5 years)

4/10

Wage Inflation
Rise in wages (past 5 years, local currency)

4/10

Millennials
Proportion of population in the age 20-39 cohort

6/10

High School Education Equivalent
Proportion of population attaining this level

5/10

University Education Equivalent
Proportion of population attaining this level

6/10

Overall Education
Composite average of High School & University

5/10

Human Capital Composite

Business Climate

5/10

Innovation
Presence of innovative factors in economy

4/10

Economic Risk
Resilience of economy to unexpected events

7/10

Business Environment
Friendliness of business environment

2/10

Corporate Tax Rate
Favorable corporate tax rate

5/10

Business Climate Composite

Operating Environment Composite

5/10

Combined average score of Human Capital and Business Climate factors

Asia Pacific

Europe, Middle East & Africa

Latin America

North America

Asia Pacific

Europe, Middle East & Africa

Latin America

North America

Asia Pacific

Europe, Middle East & Africa

Latin America

North America

São Paulo

BOMA

Space Measurement Standard

Space Unit of Measure

BRL

Financial Data Currency

Yes

Transfer Taxes

Notes:

Office Occupier Market Condition

Typical Loss Factor

Loss Factor Notes:

Landlord Concessions

Fit-Out Concession

Amount of Fit-Out Concession

Rent-Free Period

Standard Range of Rent-Free Months

Rent-Free Period Notes:

Tenant Rep Broker Fee (New Leases)

Tenant Rep Broker Fee (Renewals)

Payment of Fees/Commissions Notes:

Lease Provisions

Lease Term

Operating Expenses & Service Charges Included

Additional Charges

Additional Charges:

Service Charge Notes:

Lease Fundamentals: The following apply to both office and industrial leases.

Lease Execution Requirements:

Requirements Notes:

Negotiated Subletting/Assignment

Negotiated Subletting/Assignment Notes:

Statutory Subletting/Assignment

Blend & Extend Strategies

Statutory Early Termination

Negotiated Early Termination

Early Termination Notes:

Workplace

Regional Office Space

Regional HQ Office Space

Desk Sharing

Desk Sharing Notes: