Satildeo Paulo Office Skyline July 2014

w

-15 -10 -5 0 5 10 15

Sao PauloMoscow

BeijingParis

SydneySeoul

BrusselsMadrid

Washington DCMumbai

Hong KongStockholm

BostonFrankfurtChicago

Mexico CityShanghai

TorontoTokyo

New YorkLos Angeles

San FranciscoLondon

DubaiSingapore

0 5 10 15 20 25 30

ChicagoLos Angeles

MadridNew York

Washington DCBrusselsToronto

StockholmFrankfurt

SydneySeoul

BostonParis

San FranciscoSingapore

LondonHong Kong

BeijingTokyo

MoscowDubai

MumbaiMexico City

ShanghaiSao Paulo

New York ndash Midtown London ndash West End Paris - CBD Nominal rates in local currency Source JLL April 2014

+ 10-20

+ 5-10

+ 0-5

- 0-5

- 5-10

Dubai London New YorkSan Francisco Hong Kong Tokyo

Singapore

Capital ValuesRental Values

Frankfurt Paris Boston ChicagoLos Angeles Toronto Washington DC Mexico City Beijing Seoul MumbaiShanghai StockholmBrussels Madrid

Moscow Sydney

Tokyo New YorkSan Francisco Madrid

Dubai London Boston ChicagoLos Angeles FrankfurtSeoul Singapore

Paris Shanghai MumbaiWashington DC TorontoMexico City Beijing Hong KongSydney Stockholm Brussels

Sao Paulo

Moscow

Sao Paulo

Rental Value growth slowing

Rental Value growth

accelerating

Rental Values bottoming out

Rental Values falling

Washington DC

Boston

Los Angeles Dubai

San Francisco Houston

Brussels Singapore Shanghai

Dallas London

Paris

Milan

Frankfurt

MoscowBerlin

Stockholm

Amsterdam Sao Paulo

Chicago Madrid

Mexico City

Toronto

Beijing

Hong Kong

Sydney

Seoul

Mumbai

RomeNew York Johannesburg

Istanbul Tokyo

Rental Value growth slowing

Rental Value growth

accelerating

Rental Values bottoming out

Rental Values falling

Brussels Paris Madrid Beijing Hong Kong Sydney

Singapore

Seoul

New York Stockholm TokyoBoston

Shanghai

Amsterdam

Berlin FrankfurtJohannesburg

London

Milan

Moscow

Los Angeles Istanbul Mumbai

Chicago Dubai

San Francisco

Washington DC

Houston

TorontoMexico City

Sao PauloDallas

Based on rents for Grade A space in CBD or equivalent US positions relate to the overall market

Americas EMEA Asia Pacific

Prime Offices - Projected Changes in Values 2014

1Q2013

1Q2014

The Jones Lang LaSalle Property Clocks SM

Prime Offices ndash City Rental Clock Prime Offices - Rental Change Q12013-Q12014

Americas EMEA

Asia Pacific

change

Supply Pipeline Major Markets 2014-2015

Office Market Overview - Global

Source JLL April 2014 Covers all office sub-markets in each city Tokyo ndash CBD - 5 kus

Completions as of existing stock

2014

2015

Source JLL April 2014 Based on rents for Grade A space in CBD or equivalent In local currency

MontevideoBuenos Aires

Santiago

Rio de Janeiro

Lima

Bogotaacute

Monterrey

Mexico City

Guadalajara

San Joseacute

Panama City

Caracas

GuayaquilQuito

Medelliacuten

San Juan

Cali

Satildeo Paulo

Barranquilla

- 1000000 2000000 3000000 4000000 5000000

Barranquilla

Cali

Guadalajara

Guayaquil

Montevideo

Quito

Medelliacuten

San Juan

Panama City

San Joseacute

Monterrey

Lima

Caracas

Buenos Aires

Bogotaacute

Rio de Janeiro

Santiago

Satildeo Paulo

Mexico City

Production Pipelinevs Current Stock

Current Stock End-Year 2013

Production Q1 2014 - Q4 2015

Santo Domingo

Caracas Santiago

Bogotaacute

RentsFalling

Rental GrowthAccelerating

RentsBottoming Out

Medellin

Lima

San Juan

Rental GrowthSlowing

Panama City

San JoseBuenos Aires

Sao Paulo

Rio de Janeiro

Mexico City

Monterrey

Guadalajara

Montevideo 22

28

30

43

48

49

52

61

65

68

74

110

115

146

158

165

175

184

373

0 5 10 15 20 25 30 35 40

Medelliacuten

Lima

Bogotaacute

Caracas

Barranquilla

Buenos Aires

Santiago

Quito

Cali

Guadalajara

Montevideo

Mexico City

San Joseacute

Rio de Janeiro

Guayaquil

San Juan

Monterrey

Satildeo Paulo

Panama City

Vacancy Q2 2013

$- $1000 $2000 $3000 $4000 $5000 $6000 $7000

Guayaquil

San Joseacute

Quito

San Juan

Monterrey

Barranqulila

Panama City

Guadalajara

Medelliacuten

Cali

Mexico City

Santiago

Buenos Aires

Lima

Montevideo

Bogotaacute

Satildeo Paulo

Rio de Janeiro

Caracas

Average Rents (USdm2mo)

Average RentClass A

Average RentClass AB

Latin-America

Production Pipeline vs Current Stock (m2)

Vacancy Rates EY 2013

Average Asking Rents EY 2013

Production vs Net Absorption (m2) Y-o-Y

- 50000 100000 150000 200000 250000 300000 350000 400000 450000

San Juan

Cali

Montevideo

Monterrey

Guayaquil

Guadalajara

Barranquilla

Medelliacuten

Caracas

Quito

Buenos Aires

Bogotaacute

San Joseacute

Lima

Rio de Janeiro

Panama City

Santiago

Satildeo Paulo

Mexico City

Y-o-Y Production vs Net Absorption Q2 2012 - Q2 2013

Production

Net Absorption

Office Vacancy Rate Class A and AB Rentable Area (m2)

Average Asking Rents (USDm2month)Rentable Area (Millions of m2)

Latin-America 2Q2014

00

10

20

30

40

50

60Millionsqm

Classes AAampA stock evolution

R$sqm

Class AAampA asking rents

0

5

10

15

20

25

30

-100

0

100

200

300

400

500

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

acute000 sqm Net absorption and vacancy evolution

NEW STOCK NET ABSORPTION VACANCY RATE

461

170

225

72

166

127

00

189

87

43

138

276

467

125

209

72

135 130

00

201

87

36

139

239

Vacancy Rate ()

Satildeo Paulo

Total inventoryapproximately

130 million sqmHigh-end stock

(AA amp A) 28 of total inventory

2Q 2014Vacancy Rate

(AA ampA) 205

Satildeo Paulo average asking rent

(AA amp A) R$ 951

Average asking rent YoY

variation-160

Population density7500

inhabkmsup2

Satildeo Paulo DemographicsAverage income

R$3500 per household

Source Jones Lang LaSalle reserach - Brazil July 2014

Sources SEADE IBGE PMSP

Population2014

118 million inhabitants

R$ 443 billion GDP

5 million formal jobs positions

65 is from services sector

00

10

20

30

40

50

60Millionsqm

Satildeo Paulo - Classes AAampA stock evolution

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

Torrre SantanderAv Pres J Kubitschek 2041

200969591 sqm2401 sqm2401 sqm000 sqm

0000 sqm

Plaza JKAv Pres J Kubitschek 1700

20048220 sqm548 sqm548 sqm274 sqm

3000 sqm

JK 1600Av Pres J Kubitschek 1600

201212791 sqm

853 sqm853 sqm

3412 sqm26

000 sqm

Spazio JKAv Pres J Kubitschek 1726

200011922 sqm

567 sqm567 sqm850 sqm

7000 sqm

Juscelino PlazaR E de Souza Aranha 387

20007744 sqm484 sqm484 sqm000 sqm

0000 sqm

JK Financial CenterAv Pres J Kubitschek 510

200012859 sqm

790 sqm893 sqm000 sqm

0000 sqm

360ordm JKAv Pres J Kubitschek 360

200912549 sqm

698 sqm698 sqm000 sqm

0000 sqm

Corporate ParkR Dr R P de Barros 1017

200317929 sqm1225 sqm1584 sqm2450 sqm

13000 sqm

Itaim e Vila Oliacutempia59

Class A

Class AA 85

35

Vila Oliacutempia AA amp A buildingsin skyline

V Oliacutempiahigh-end

stock369000

sqm

New Stock forecast

2014-2015179600

sqm

Last 12 months

production36000 sqm

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Jardim EuropaAv Nove de Julho 5229

197520149000 sqm818 sqm818 sqm

9000 sqm100

000 sqm

461

170

225

72

166127

00

189

87

43

138

276

467

125

209

72

135 130

00

201

87

36

139

239

Satildeo Paulo - Vacancy Rate ()

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

E-TowerR Funchal 418

200521978 sqm

490 sqm1533 sqm3728 sqm

17000 sqm

Vila Oliacutempia Corporate Plaza

Rua Satildeo Tomeacute 862006

9822 sqm481 sqm481 sqm000 sqm

0000 sqm

Francisco Mellatildeo - Bloco 1

R Funchal 2632000

7912 sqm424 sqm424 sqm318 sqm

4000 sqm

Camargo Corporate - BAv Pres J Kubitschek

201556770 sqm1803 sqm2570 sqm

56770 sqm100

000 sqm

Camargo Corporate - AAv Pres J Kubitschek

201456770 sqm1803 sqm2570 sqm56770 sqm

100000 sqm

Complexo JK - Torre BAv Chedid Jafet 131

201428236 sqm4706 sqm4706 sqm28236 sqm

100000 sqm

Complexo JK - Torre EAv Chedid Jafet

201322596 sqm1189 sqm1189 sqm15462 sqm

687134 sqm

Complexo JK - Torre DAv J Kubitschek

201312206 sqm

678 sqm678 sqm

12206 sqm100

000 sqm

Vila Oliacutempia

Last 12 months net absorption 3600 sqm

V Oliacutempiaregion

vacancy276

238 of stock is available

V OliacutempiaAA buildingsvacancy rate

339

V Oliacutempia A buildings

vacancy rate

178

V Oliacutempia vacancy rate YoY

variation

711 bps

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Oliacutempia Business TowerR Helena 29

201418609 sqm

838 sqm838 sqm

18609 sqm100

000 sqm

R$sqm Satildeo Paulo - Class AAampA asking rents

Central Vila OliacutempiaRua G de Carvalho1361

201515756 sqm1162 sqm1222 sqm

15756 sqm100

000 sqm

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

Capital CenterRua das Olimpiacuteadas 66

20088418 sqm701 sqm701 sqm000 sqm

0000 sqm

Continental SquareRua das Olimpiacuteadas 205

200326418 sqm1700 sqm1700 sqm3400 sqm

13000 sqm

One HundredRua das Olimpiacuteadas 100

20035072 sqm484 sqm484 sqm000 sqm

0000 sqm

Alpha TowerRua das Olimpiacuteadas 134

20116552 sqm535 sqm597 sqm298 sqm

4303 sqm

Vila Oliacutempia Corporate - B

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm12846 sqm

712438 sqm

Vila Oliacutempia Corporate - A

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm15284 sqm

84697 sqm

Sky CorporateRua G de Carvalho 1996

201225605 sqm1121 sqm2653 sqm11046 sqm

433809 sqm

Vila Oliacutempia

AAampA V Oliacutempia asking rent

R$108

Class AA asking rent R$ 111

Class A asking rent R$ 107

Asking rent average decreased 01 QoQ

Asking rent average decreased 156 YoY

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Raja GabagliaAl Raja Gabaglia 61

201412000 sqm

600 sqm600 sqm

12000 sqm100

000 sqm

Alessandra OsiroOperations Director

About JLLJLL (NYSE JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning occupying and investing in real estate With annual fee revenue of $4 billion JLL has more than 200 corporate offices and operates in 75 countries worldwide On behalf of its clients the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales acquisitions and finance transactions in 2013 Its investment management business LaSalle Investment Management has $480 billion of real estate assets under management JLL is the brand name of Jones Lang LaSalle Incorporated For further information visit wwwjllcom

COPYRIGHT copy JONES LANG LASALLE IP INC 2014 This publication is the exclusive property of JLL and may not be copied reproduced or transmitted in any form or by any means in whole or in part without the prior written consent of JLL

ADDITIONAL INFORMATIONThis publication is biannual and the data presented in this issue was collected between April 1st and July 31st 2014 The information contained in this publication has been obtained in the market by the Research and Market Intelligence team of JLL Brazil through sources deemed reliable however JLL does not accept responsibility for the accuracy of this information The content is merely informative it aims the general public and under any circumstances should be considered as an investment guide as such JLL does not accept responsibility for any decisions based on this publication Since JLL does not exhaust all the possibilities of the market in this publication if you need additional information and advice targeted to your needs the JLL team is available via e-mail and telephone at clientsolutionsamjllcom and +55 (11) 3043-6999

About JLL BrazilJLL brought its extensive international experience to Brazil in 1996 making it one of the first professional building management companies in the market It currently has a professional staff of around 550 working out of offices in Satildeo Paulo Rio de Janeiro and Curitiba They serve Brazilian and multi-national clients under contract in all national territory For further information visit wwwjllcombr

Andreacute RosaManaging Director

Marcelo Sasaki+55 11 3043-6897marcelosasakiamjllcom

Monica Lee+55 11 3043-6947monicaleeamjllcom

Paulo Casoni+55 11 3043 6935 21 2277 2701paulocasoniamjllcom

Roberto Patino+55 11 3043-7140robertopatinoamjllcom

Joseacute Victor Cardim+55 11 3043 7183josecardimamjllcom

Ricardo HirataHead of Research

Client SolutionsSatildeo Paulo

TransactionsOffice Division

Julia BotelhoOffice Division Leader

Market IntelligenceSatildeo PauloRio de Janeiro

Global Clients

MontevideoBuenos Aires

Santiago

Rio de Janeiro

Lima

Bogotaacute

Monterrey

Mexico City

Guadalajara

San Joseacute

Panama City

Caracas

GuayaquilQuito

Medelliacuten

San Juan

Cali

Satildeo Paulo

Barranquilla

- 1000000 2000000 3000000 4000000 5000000

Barranquilla

Cali

Guadalajara

Guayaquil

Montevideo

Quito

Medelliacuten

San Juan

Panama City

San Joseacute

Monterrey

Lima

Caracas

Buenos Aires

Bogotaacute

Rio de Janeiro

Santiago

Satildeo Paulo

Mexico City

Production Pipelinevs Current Stock

Current Stock End-Year 2013

Production Q1 2014 - Q4 2015

Santo Domingo

Caracas Santiago

Bogotaacute

RentsFalling

Rental GrowthAccelerating

RentsBottoming Out

Medellin

Lima

San Juan

Rental GrowthSlowing

Panama City

San JoseBuenos Aires

Sao Paulo

Rio de Janeiro

Mexico City

Monterrey

Guadalajara

Montevideo 22

28

30

43

48

49

52

61

65

68

74

110

115

146

158

165

175

184

373

0 5 10 15 20 25 30 35 40

Medelliacuten

Lima

Bogotaacute

Caracas

Barranquilla

Buenos Aires

Santiago

Quito

Cali

Guadalajara

Montevideo

Mexico City

San Joseacute

Rio de Janeiro

Guayaquil

San Juan

Monterrey

Satildeo Paulo

Panama City

Vacancy Q2 2013

$- $1000 $2000 $3000 $4000 $5000 $6000 $7000

Guayaquil

San Joseacute

Quito

San Juan

Monterrey

Barranqulila

Panama City

Guadalajara

Medelliacuten

Cali

Mexico City

Santiago

Buenos Aires

Lima

Montevideo

Bogotaacute

Satildeo Paulo

Rio de Janeiro

Caracas

Average Rents (USdm2mo)

Average RentClass A

Average RentClass AB

Latin-America

Production Pipeline vs Current Stock (m2)

Vacancy Rates EY 2013

Average Asking Rents EY 2013

Production vs Net Absorption (m2) Y-o-Y

- 50000 100000 150000 200000 250000 300000 350000 400000 450000

San Juan

Cali

Montevideo

Monterrey

Guayaquil

Guadalajara

Barranquilla

Medelliacuten

Caracas

Quito

Buenos Aires

Bogotaacute

San Joseacute

Lima

Rio de Janeiro

Panama City

Santiago

Satildeo Paulo

Mexico City

Y-o-Y Production vs Net Absorption Q2 2012 - Q2 2013

Production

Net Absorption

Office Vacancy Rate Class A and AB Rentable Area (m2)

Average Asking Rents (USDm2month)Rentable Area (Millions of m2)

Latin-America 2Q2014

00

10

20

30

40

50

60Millionsqm

Classes AAampA stock evolution

R$sqm

Class AAampA asking rents

0

5

10

15

20

25

30

-100

0

100

200

300

400

500

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

acute000 sqm Net absorption and vacancy evolution

NEW STOCK NET ABSORPTION VACANCY RATE

461

170

225

72

166

127

00

189

87

43

138

276

467

125

209

72

135 130

00

201

87

36

139

239

Vacancy Rate ()

Satildeo Paulo

Total inventoryapproximately

130 million sqmHigh-end stock

(AA amp A) 28 of total inventory

2Q 2014Vacancy Rate

(AA ampA) 205

Satildeo Paulo average asking rent

(AA amp A) R$ 951

Average asking rent YoY

variation-160

Population density7500

inhabkmsup2

Satildeo Paulo DemographicsAverage income

R$3500 per household

Source Jones Lang LaSalle reserach - Brazil July 2014

Sources SEADE IBGE PMSP

Population2014

118 million inhabitants

R$ 443 billion GDP

5 million formal jobs positions

65 is from services sector

00

10

20

30

40

50

60Millionsqm

Satildeo Paulo - Classes AAampA stock evolution

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

Torrre SantanderAv Pres J Kubitschek 2041

200969591 sqm2401 sqm2401 sqm000 sqm

0000 sqm

Plaza JKAv Pres J Kubitschek 1700

20048220 sqm548 sqm548 sqm274 sqm

3000 sqm

JK 1600Av Pres J Kubitschek 1600

201212791 sqm

853 sqm853 sqm

3412 sqm26

000 sqm

Spazio JKAv Pres J Kubitschek 1726

200011922 sqm

567 sqm567 sqm850 sqm

7000 sqm

Juscelino PlazaR E de Souza Aranha 387

20007744 sqm484 sqm484 sqm000 sqm

0000 sqm

JK Financial CenterAv Pres J Kubitschek 510

200012859 sqm

790 sqm893 sqm000 sqm

0000 sqm

360ordm JKAv Pres J Kubitschek 360

200912549 sqm

698 sqm698 sqm000 sqm

0000 sqm

Corporate ParkR Dr R P de Barros 1017

200317929 sqm1225 sqm1584 sqm2450 sqm

13000 sqm

Itaim e Vila Oliacutempia59

Class A

Class AA 85

35

Vila Oliacutempia AA amp A buildingsin skyline

V Oliacutempiahigh-end

stock369000

sqm

New Stock forecast

2014-2015179600

sqm

Last 12 months

production36000 sqm

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Jardim EuropaAv Nove de Julho 5229

197520149000 sqm818 sqm818 sqm

9000 sqm100

000 sqm

461

170

225

72

166127

00

189

87

43

138

276

467

125

209

72

135 130

00

201

87

36

139

239

Satildeo Paulo - Vacancy Rate ()

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

E-TowerR Funchal 418

200521978 sqm

490 sqm1533 sqm3728 sqm

17000 sqm

Vila Oliacutempia Corporate Plaza

Rua Satildeo Tomeacute 862006

9822 sqm481 sqm481 sqm000 sqm

0000 sqm

Francisco Mellatildeo - Bloco 1

R Funchal 2632000

7912 sqm424 sqm424 sqm318 sqm

4000 sqm

Camargo Corporate - BAv Pres J Kubitschek

201556770 sqm1803 sqm2570 sqm

56770 sqm100

000 sqm

Camargo Corporate - AAv Pres J Kubitschek

201456770 sqm1803 sqm2570 sqm56770 sqm

100000 sqm

Complexo JK - Torre BAv Chedid Jafet 131

201428236 sqm4706 sqm4706 sqm28236 sqm

100000 sqm

Complexo JK - Torre EAv Chedid Jafet

201322596 sqm1189 sqm1189 sqm15462 sqm

687134 sqm

Complexo JK - Torre DAv J Kubitschek

201312206 sqm

678 sqm678 sqm

12206 sqm100

000 sqm

Vila Oliacutempia

Last 12 months net absorption 3600 sqm

V Oliacutempiaregion

vacancy276

238 of stock is available

V OliacutempiaAA buildingsvacancy rate

339

V Oliacutempia A buildings

vacancy rate

178

V Oliacutempia vacancy rate YoY

variation

711 bps

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Oliacutempia Business TowerR Helena 29

201418609 sqm

838 sqm838 sqm

18609 sqm100

000 sqm

R$sqm Satildeo Paulo - Class AAampA asking rents

Central Vila OliacutempiaRua G de Carvalho1361

201515756 sqm1162 sqm1222 sqm

15756 sqm100

000 sqm

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

Capital CenterRua das Olimpiacuteadas 66

20088418 sqm701 sqm701 sqm000 sqm

0000 sqm

Continental SquareRua das Olimpiacuteadas 205

200326418 sqm1700 sqm1700 sqm3400 sqm

13000 sqm

One HundredRua das Olimpiacuteadas 100

20035072 sqm484 sqm484 sqm000 sqm

0000 sqm

Alpha TowerRua das Olimpiacuteadas 134

20116552 sqm535 sqm597 sqm298 sqm

4303 sqm

Vila Oliacutempia Corporate - B

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm12846 sqm

712438 sqm

Vila Oliacutempia Corporate - A

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm15284 sqm

84697 sqm

Sky CorporateRua G de Carvalho 1996

201225605 sqm1121 sqm2653 sqm11046 sqm

433809 sqm

Vila Oliacutempia

AAampA V Oliacutempia asking rent

R$108

Class AA asking rent R$ 111

Class A asking rent R$ 107

Asking rent average decreased 01 QoQ

Asking rent average decreased 156 YoY

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Raja GabagliaAl Raja Gabaglia 61

201412000 sqm

600 sqm600 sqm

12000 sqm100

000 sqm

Alessandra OsiroOperations Director

About JLLJLL (NYSE JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning occupying and investing in real estate With annual fee revenue of $4 billion JLL has more than 200 corporate offices and operates in 75 countries worldwide On behalf of its clients the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales acquisitions and finance transactions in 2013 Its investment management business LaSalle Investment Management has $480 billion of real estate assets under management JLL is the brand name of Jones Lang LaSalle Incorporated For further information visit wwwjllcom

COPYRIGHT copy JONES LANG LASALLE IP INC 2014 This publication is the exclusive property of JLL and may not be copied reproduced or transmitted in any form or by any means in whole or in part without the prior written consent of JLL

ADDITIONAL INFORMATIONThis publication is biannual and the data presented in this issue was collected between April 1st and July 31st 2014 The information contained in this publication has been obtained in the market by the Research and Market Intelligence team of JLL Brazil through sources deemed reliable however JLL does not accept responsibility for the accuracy of this information The content is merely informative it aims the general public and under any circumstances should be considered as an investment guide as such JLL does not accept responsibility for any decisions based on this publication Since JLL does not exhaust all the possibilities of the market in this publication if you need additional information and advice targeted to your needs the JLL team is available via e-mail and telephone at clientsolutionsamjllcom and +55 (11) 3043-6999

About JLL BrazilJLL brought its extensive international experience to Brazil in 1996 making it one of the first professional building management companies in the market It currently has a professional staff of around 550 working out of offices in Satildeo Paulo Rio de Janeiro and Curitiba They serve Brazilian and multi-national clients under contract in all national territory For further information visit wwwjllcombr

Andreacute RosaManaging Director

Marcelo Sasaki+55 11 3043-6897marcelosasakiamjllcom

Monica Lee+55 11 3043-6947monicaleeamjllcom

Paulo Casoni+55 11 3043 6935 21 2277 2701paulocasoniamjllcom

Roberto Patino+55 11 3043-7140robertopatinoamjllcom

Joseacute Victor Cardim+55 11 3043 7183josecardimamjllcom

Ricardo HirataHead of Research

Client SolutionsSatildeo Paulo

TransactionsOffice Division

Julia BotelhoOffice Division Leader

Market IntelligenceSatildeo PauloRio de Janeiro

Global Clients

00

10

20

30

40

50

60Millionsqm

Classes AAampA stock evolution

R$sqm

Class AAampA asking rents

0

5

10

15

20

25

30

-100

0

100

200

300

400

500

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

acute000 sqm Net absorption and vacancy evolution

NEW STOCK NET ABSORPTION VACANCY RATE

461

170

225

72

166

127

00

189

87

43

138

276

467

125

209

72

135 130

00

201

87

36

139

239

Vacancy Rate ()

Satildeo Paulo

Total inventoryapproximately

130 million sqmHigh-end stock

(AA amp A) 28 of total inventory

2Q 2014Vacancy Rate

(AA ampA) 205

Satildeo Paulo average asking rent

(AA amp A) R$ 951

Average asking rent YoY

variation-160

Population density7500

inhabkmsup2

Satildeo Paulo DemographicsAverage income

R$3500 per household

Source Jones Lang LaSalle reserach - Brazil July 2014

Sources SEADE IBGE PMSP

Population2014

118 million inhabitants

R$ 443 billion GDP

5 million formal jobs positions

65 is from services sector

00

10

20

30

40

50

60Millionsqm

Satildeo Paulo - Classes AAampA stock evolution

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

Torrre SantanderAv Pres J Kubitschek 2041

200969591 sqm2401 sqm2401 sqm000 sqm

0000 sqm

Plaza JKAv Pres J Kubitschek 1700

20048220 sqm548 sqm548 sqm274 sqm

3000 sqm

JK 1600Av Pres J Kubitschek 1600

201212791 sqm

853 sqm853 sqm

3412 sqm26

000 sqm

Spazio JKAv Pres J Kubitschek 1726

200011922 sqm

567 sqm567 sqm850 sqm

7000 sqm

Juscelino PlazaR E de Souza Aranha 387

20007744 sqm484 sqm484 sqm000 sqm

0000 sqm

JK Financial CenterAv Pres J Kubitschek 510

200012859 sqm

790 sqm893 sqm000 sqm

0000 sqm

360ordm JKAv Pres J Kubitschek 360

200912549 sqm

698 sqm698 sqm000 sqm

0000 sqm

Corporate ParkR Dr R P de Barros 1017

200317929 sqm1225 sqm1584 sqm2450 sqm

13000 sqm

Itaim e Vila Oliacutempia59

Class A

Class AA 85

35

Vila Oliacutempia AA amp A buildingsin skyline

V Oliacutempiahigh-end

stock369000

sqm

New Stock forecast

2014-2015179600

sqm

Last 12 months

production36000 sqm

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Jardim EuropaAv Nove de Julho 5229

197520149000 sqm818 sqm818 sqm

9000 sqm100

000 sqm

461

170

225

72

166127

00

189

87

43

138

276

467

125

209

72

135 130

00

201

87

36

139

239

Satildeo Paulo - Vacancy Rate ()

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

E-TowerR Funchal 418

200521978 sqm

490 sqm1533 sqm3728 sqm

17000 sqm

Vila Oliacutempia Corporate Plaza

Rua Satildeo Tomeacute 862006

9822 sqm481 sqm481 sqm000 sqm

0000 sqm

Francisco Mellatildeo - Bloco 1

R Funchal 2632000

7912 sqm424 sqm424 sqm318 sqm

4000 sqm

Camargo Corporate - BAv Pres J Kubitschek

201556770 sqm1803 sqm2570 sqm

56770 sqm100

000 sqm

Camargo Corporate - AAv Pres J Kubitschek

201456770 sqm1803 sqm2570 sqm56770 sqm

100000 sqm

Complexo JK - Torre BAv Chedid Jafet 131

201428236 sqm4706 sqm4706 sqm28236 sqm

100000 sqm

Complexo JK - Torre EAv Chedid Jafet

201322596 sqm1189 sqm1189 sqm15462 sqm

687134 sqm

Complexo JK - Torre DAv J Kubitschek

201312206 sqm

678 sqm678 sqm

12206 sqm100

000 sqm

Vila Oliacutempia

Last 12 months net absorption 3600 sqm

V Oliacutempiaregion

vacancy276

238 of stock is available

V OliacutempiaAA buildingsvacancy rate

339

V Oliacutempia A buildings

vacancy rate

178

V Oliacutempia vacancy rate YoY

variation

711 bps

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Oliacutempia Business TowerR Helena 29

201418609 sqm

838 sqm838 sqm

18609 sqm100

000 sqm

R$sqm Satildeo Paulo - Class AAampA asking rents

Central Vila OliacutempiaRua G de Carvalho1361

201515756 sqm1162 sqm1222 sqm

15756 sqm100

000 sqm

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

Capital CenterRua das Olimpiacuteadas 66

20088418 sqm701 sqm701 sqm000 sqm

0000 sqm

Continental SquareRua das Olimpiacuteadas 205

200326418 sqm1700 sqm1700 sqm3400 sqm

13000 sqm

One HundredRua das Olimpiacuteadas 100

20035072 sqm484 sqm484 sqm000 sqm

0000 sqm

Alpha TowerRua das Olimpiacuteadas 134

20116552 sqm535 sqm597 sqm298 sqm

4303 sqm

Vila Oliacutempia Corporate - B

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm12846 sqm

712438 sqm

Vila Oliacutempia Corporate - A

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm15284 sqm

84697 sqm

Sky CorporateRua G de Carvalho 1996

201225605 sqm1121 sqm2653 sqm11046 sqm

433809 sqm

Vila Oliacutempia

AAampA V Oliacutempia asking rent

R$108

Class AA asking rent R$ 111

Class A asking rent R$ 107

Asking rent average decreased 01 QoQ

Asking rent average decreased 156 YoY

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Raja GabagliaAl Raja Gabaglia 61

201412000 sqm

600 sqm600 sqm

12000 sqm100

000 sqm

Alessandra OsiroOperations Director

About JLLJLL (NYSE JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning occupying and investing in real estate With annual fee revenue of $4 billion JLL has more than 200 corporate offices and operates in 75 countries worldwide On behalf of its clients the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales acquisitions and finance transactions in 2013 Its investment management business LaSalle Investment Management has $480 billion of real estate assets under management JLL is the brand name of Jones Lang LaSalle Incorporated For further information visit wwwjllcom

COPYRIGHT copy JONES LANG LASALLE IP INC 2014 This publication is the exclusive property of JLL and may not be copied reproduced or transmitted in any form or by any means in whole or in part without the prior written consent of JLL

ADDITIONAL INFORMATIONThis publication is biannual and the data presented in this issue was collected between April 1st and July 31st 2014 The information contained in this publication has been obtained in the market by the Research and Market Intelligence team of JLL Brazil through sources deemed reliable however JLL does not accept responsibility for the accuracy of this information The content is merely informative it aims the general public and under any circumstances should be considered as an investment guide as such JLL does not accept responsibility for any decisions based on this publication Since JLL does not exhaust all the possibilities of the market in this publication if you need additional information and advice targeted to your needs the JLL team is available via e-mail and telephone at clientsolutionsamjllcom and +55 (11) 3043-6999

About JLL BrazilJLL brought its extensive international experience to Brazil in 1996 making it one of the first professional building management companies in the market It currently has a professional staff of around 550 working out of offices in Satildeo Paulo Rio de Janeiro and Curitiba They serve Brazilian and multi-national clients under contract in all national territory For further information visit wwwjllcombr

Andreacute RosaManaging Director

Marcelo Sasaki+55 11 3043-6897marcelosasakiamjllcom

Monica Lee+55 11 3043-6947monicaleeamjllcom

Paulo Casoni+55 11 3043 6935 21 2277 2701paulocasoniamjllcom

Roberto Patino+55 11 3043-7140robertopatinoamjllcom

Joseacute Victor Cardim+55 11 3043 7183josecardimamjllcom

Ricardo HirataHead of Research

Client SolutionsSatildeo Paulo

TransactionsOffice Division

Julia BotelhoOffice Division Leader

Market IntelligenceSatildeo PauloRio de Janeiro

Global Clients

00

10

20

30

40

50

60Millionsqm

Satildeo Paulo - Classes AAampA stock evolution

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

Torrre SantanderAv Pres J Kubitschek 2041

200969591 sqm2401 sqm2401 sqm000 sqm

0000 sqm

Plaza JKAv Pres J Kubitschek 1700

20048220 sqm548 sqm548 sqm274 sqm

3000 sqm

JK 1600Av Pres J Kubitschek 1600

201212791 sqm

853 sqm853 sqm

3412 sqm26

000 sqm

Spazio JKAv Pres J Kubitschek 1726

200011922 sqm

567 sqm567 sqm850 sqm

7000 sqm

Juscelino PlazaR E de Souza Aranha 387

20007744 sqm484 sqm484 sqm000 sqm

0000 sqm

JK Financial CenterAv Pres J Kubitschek 510

200012859 sqm

790 sqm893 sqm000 sqm

0000 sqm

360ordm JKAv Pres J Kubitschek 360

200912549 sqm

698 sqm698 sqm000 sqm

0000 sqm

Corporate ParkR Dr R P de Barros 1017

200317929 sqm1225 sqm1584 sqm2450 sqm

13000 sqm

Itaim e Vila Oliacutempia59

Class A

Class AA 85

35

Vila Oliacutempia AA amp A buildingsin skyline

V Oliacutempiahigh-end

stock369000

sqm

New Stock forecast

2014-2015179600

sqm

Last 12 months

production36000 sqm

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Jardim EuropaAv Nove de Julho 5229

197520149000 sqm818 sqm818 sqm

9000 sqm100

000 sqm

461

170

225

72

166127

00

189

87

43

138

276

467

125

209

72

135 130

00

201

87

36

139

239

Satildeo Paulo - Vacancy Rate ()

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

E-TowerR Funchal 418

200521978 sqm

490 sqm1533 sqm3728 sqm

17000 sqm

Vila Oliacutempia Corporate Plaza

Rua Satildeo Tomeacute 862006

9822 sqm481 sqm481 sqm000 sqm

0000 sqm

Francisco Mellatildeo - Bloco 1

R Funchal 2632000

7912 sqm424 sqm424 sqm318 sqm

4000 sqm

Camargo Corporate - BAv Pres J Kubitschek

201556770 sqm1803 sqm2570 sqm

56770 sqm100

000 sqm

Camargo Corporate - AAv Pres J Kubitschek

201456770 sqm1803 sqm2570 sqm56770 sqm

100000 sqm

Complexo JK - Torre BAv Chedid Jafet 131

201428236 sqm4706 sqm4706 sqm28236 sqm

100000 sqm

Complexo JK - Torre EAv Chedid Jafet

201322596 sqm1189 sqm1189 sqm15462 sqm

687134 sqm

Complexo JK - Torre DAv J Kubitschek

201312206 sqm

678 sqm678 sqm

12206 sqm100

000 sqm

Vila Oliacutempia

Last 12 months net absorption 3600 sqm

V Oliacutempiaregion

vacancy276

238 of stock is available

V OliacutempiaAA buildingsvacancy rate

339

V Oliacutempia A buildings

vacancy rate

178

V Oliacutempia vacancy rate YoY

variation

711 bps

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Oliacutempia Business TowerR Helena 29

201418609 sqm

838 sqm838 sqm

18609 sqm100

000 sqm

R$sqm Satildeo Paulo - Class AAampA asking rents

Central Vila OliacutempiaRua G de Carvalho1361

201515756 sqm1162 sqm1222 sqm

15756 sqm100

000 sqm

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

Capital CenterRua das Olimpiacuteadas 66

20088418 sqm701 sqm701 sqm000 sqm

0000 sqm

Continental SquareRua das Olimpiacuteadas 205

200326418 sqm1700 sqm1700 sqm3400 sqm

13000 sqm

One HundredRua das Olimpiacuteadas 100

20035072 sqm484 sqm484 sqm000 sqm

0000 sqm

Alpha TowerRua das Olimpiacuteadas 134

20116552 sqm535 sqm597 sqm298 sqm

4303 sqm

Vila Oliacutempia Corporate - B

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm12846 sqm

712438 sqm

Vila Oliacutempia Corporate - A

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm15284 sqm

84697 sqm

Sky CorporateRua G de Carvalho 1996

201225605 sqm1121 sqm2653 sqm11046 sqm

433809 sqm

Vila Oliacutempia

AAampA V Oliacutempia asking rent

R$108

Class AA asking rent R$ 111

Class A asking rent R$ 107

Asking rent average decreased 01 QoQ

Asking rent average decreased 156 YoY

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Raja GabagliaAl Raja Gabaglia 61

201412000 sqm

600 sqm600 sqm

12000 sqm100

000 sqm

Alessandra OsiroOperations Director

About JLLJLL (NYSE JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning occupying and investing in real estate With annual fee revenue of $4 billion JLL has more than 200 corporate offices and operates in 75 countries worldwide On behalf of its clients the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales acquisitions and finance transactions in 2013 Its investment management business LaSalle Investment Management has $480 billion of real estate assets under management JLL is the brand name of Jones Lang LaSalle Incorporated For further information visit wwwjllcom

COPYRIGHT copy JONES LANG LASALLE IP INC 2014 This publication is the exclusive property of JLL and may not be copied reproduced or transmitted in any form or by any means in whole or in part without the prior written consent of JLL

ADDITIONAL INFORMATIONThis publication is biannual and the data presented in this issue was collected between April 1st and July 31st 2014 The information contained in this publication has been obtained in the market by the Research and Market Intelligence team of JLL Brazil through sources deemed reliable however JLL does not accept responsibility for the accuracy of this information The content is merely informative it aims the general public and under any circumstances should be considered as an investment guide as such JLL does not accept responsibility for any decisions based on this publication Since JLL does not exhaust all the possibilities of the market in this publication if you need additional information and advice targeted to your needs the JLL team is available via e-mail and telephone at clientsolutionsamjllcom and +55 (11) 3043-6999

About JLL BrazilJLL brought its extensive international experience to Brazil in 1996 making it one of the first professional building management companies in the market It currently has a professional staff of around 550 working out of offices in Satildeo Paulo Rio de Janeiro and Curitiba They serve Brazilian and multi-national clients under contract in all national territory For further information visit wwwjllcombr

Andreacute RosaManaging Director

Marcelo Sasaki+55 11 3043-6897marcelosasakiamjllcom

Monica Lee+55 11 3043-6947monicaleeamjllcom

Paulo Casoni+55 11 3043 6935 21 2277 2701paulocasoniamjllcom

Roberto Patino+55 11 3043-7140robertopatinoamjllcom

Joseacute Victor Cardim+55 11 3043 7183josecardimamjllcom

Ricardo HirataHead of Research

Client SolutionsSatildeo Paulo

TransactionsOffice Division

Julia BotelhoOffice Division Leader

Market IntelligenceSatildeo PauloRio de Janeiro

Global Clients

461

170

225

72

166127

00

189

87

43

138

276

467

125

209

72

135 130

00

201

87

36

139

239

Satildeo Paulo - Vacancy Rate ()

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

E-TowerR Funchal 418

200521978 sqm

490 sqm1533 sqm3728 sqm

17000 sqm

Vila Oliacutempia Corporate Plaza

Rua Satildeo Tomeacute 862006

9822 sqm481 sqm481 sqm000 sqm

0000 sqm

Francisco Mellatildeo - Bloco 1

R Funchal 2632000

7912 sqm424 sqm424 sqm318 sqm

4000 sqm

Camargo Corporate - BAv Pres J Kubitschek

201556770 sqm1803 sqm2570 sqm

56770 sqm100

000 sqm

Camargo Corporate - AAv Pres J Kubitschek

201456770 sqm1803 sqm2570 sqm56770 sqm

100000 sqm

Complexo JK - Torre BAv Chedid Jafet 131

201428236 sqm4706 sqm4706 sqm28236 sqm

100000 sqm

Complexo JK - Torre EAv Chedid Jafet

201322596 sqm1189 sqm1189 sqm15462 sqm

687134 sqm

Complexo JK - Torre DAv J Kubitschek

201312206 sqm

678 sqm678 sqm

12206 sqm100

000 sqm

Vila Oliacutempia

Last 12 months net absorption 3600 sqm

V Oliacutempiaregion

vacancy276

238 of stock is available

V OliacutempiaAA buildingsvacancy rate

339

V Oliacutempia A buildings

vacancy rate

178

V Oliacutempia vacancy rate YoY

variation

711 bps

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Oliacutempia Business TowerR Helena 29

201418609 sqm

838 sqm838 sqm

18609 sqm100

000 sqm

R$sqm Satildeo Paulo - Class AAampA asking rents

Central Vila OliacutempiaRua G de Carvalho1361

201515756 sqm1162 sqm1222 sqm

15756 sqm100

000 sqm

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

Capital CenterRua das Olimpiacuteadas 66

20088418 sqm701 sqm701 sqm000 sqm

0000 sqm

Continental SquareRua das Olimpiacuteadas 205

200326418 sqm1700 sqm1700 sqm3400 sqm

13000 sqm

One HundredRua das Olimpiacuteadas 100

20035072 sqm484 sqm484 sqm000 sqm

0000 sqm

Alpha TowerRua das Olimpiacuteadas 134

20116552 sqm535 sqm597 sqm298 sqm

4303 sqm

Vila Oliacutempia Corporate - B

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm12846 sqm

712438 sqm

Vila Oliacutempia Corporate - A

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm15284 sqm

84697 sqm

Sky CorporateRua G de Carvalho 1996

201225605 sqm1121 sqm2653 sqm11046 sqm

433809 sqm

Vila Oliacutempia

AAampA V Oliacutempia asking rent

R$108

Class AA asking rent R$ 111

Class A asking rent R$ 107

Asking rent average decreased 01 QoQ

Asking rent average decreased 156 YoY

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Raja GabagliaAl Raja Gabaglia 61

201412000 sqm

600 sqm600 sqm

12000 sqm100

000 sqm

Alessandra OsiroOperations Director

About JLLJLL (NYSE JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning occupying and investing in real estate With annual fee revenue of $4 billion JLL has more than 200 corporate offices and operates in 75 countries worldwide On behalf of its clients the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales acquisitions and finance transactions in 2013 Its investment management business LaSalle Investment Management has $480 billion of real estate assets under management JLL is the brand name of Jones Lang LaSalle Incorporated For further information visit wwwjllcom

COPYRIGHT copy JONES LANG LASALLE IP INC 2014 This publication is the exclusive property of JLL and may not be copied reproduced or transmitted in any form or by any means in whole or in part without the prior written consent of JLL

ADDITIONAL INFORMATIONThis publication is biannual and the data presented in this issue was collected between April 1st and July 31st 2014 The information contained in this publication has been obtained in the market by the Research and Market Intelligence team of JLL Brazil through sources deemed reliable however JLL does not accept responsibility for the accuracy of this information The content is merely informative it aims the general public and under any circumstances should be considered as an investment guide as such JLL does not accept responsibility for any decisions based on this publication Since JLL does not exhaust all the possibilities of the market in this publication if you need additional information and advice targeted to your needs the JLL team is available via e-mail and telephone at clientsolutionsamjllcom and +55 (11) 3043-6999

About JLL BrazilJLL brought its extensive international experience to Brazil in 1996 making it one of the first professional building management companies in the market It currently has a professional staff of around 550 working out of offices in Satildeo Paulo Rio de Janeiro and Curitiba They serve Brazilian and multi-national clients under contract in all national territory For further information visit wwwjllcombr

Andreacute RosaManaging Director

Marcelo Sasaki+55 11 3043-6897marcelosasakiamjllcom

Monica Lee+55 11 3043-6947monicaleeamjllcom

Paulo Casoni+55 11 3043 6935 21 2277 2701paulocasoniamjllcom

Roberto Patino+55 11 3043-7140robertopatinoamjllcom

Joseacute Victor Cardim+55 11 3043 7183josecardimamjllcom

Ricardo HirataHead of Research

Client SolutionsSatildeo Paulo

TransactionsOffice Division

Julia BotelhoOffice Division Leader

Market IntelligenceSatildeo PauloRio de Janeiro

Global Clients

R$sqm Satildeo Paulo - Class AAampA asking rents

Central Vila OliacutempiaRua G de Carvalho1361

201515756 sqm1162 sqm1222 sqm

15756 sqm100

000 sqm

Satildeo Paulo

BuildingAddressBuilt RenovatedTotal AreaFloor Area (min)Floor Area (max)Available AreaAvailability RatePre-leased space

10

20

30

1T

40

35

25

5

15

Capital CenterRua das Olimpiacuteadas 66

20088418 sqm701 sqm701 sqm000 sqm

0000 sqm

Continental SquareRua das Olimpiacuteadas 205

200326418 sqm1700 sqm1700 sqm3400 sqm

13000 sqm

One HundredRua das Olimpiacuteadas 100

20035072 sqm484 sqm484 sqm000 sqm

0000 sqm

Alpha TowerRua das Olimpiacuteadas 134

20116552 sqm535 sqm597 sqm298 sqm

4303 sqm

Vila Oliacutempia Corporate - B

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm12846 sqm

712438 sqm

Vila Oliacutempia Corporate - A

Rua Fidecircncio Ramos 3022013

18072 sqm1394 sqm2617 sqm15284 sqm

84697 sqm

Sky CorporateRua G de Carvalho 1996

201225605 sqm1121 sqm2653 sqm11046 sqm

433809 sqm

Vila Oliacutempia

AAampA V Oliacutempia asking rent

R$108

Class AA asking rent R$ 111

Class A asking rent R$ 107

Asking rent average decreased 01 QoQ

Asking rent average decreased 156 YoY

Occupied floor Vacant floor Pre-leased Future available under construction

Retail Parking other unusable space

Raja GabagliaAl Raja Gabaglia 61

201412000 sqm

600 sqm600 sqm

12000 sqm100

000 sqm

Alessandra OsiroOperations Director

About JLLJLL (NYSE JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning occupying and investing in real estate With annual fee revenue of $4 billion JLL has more than 200 corporate offices and operates in 75 countries worldwide On behalf of its clients the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales acquisitions and finance transactions in 2013 Its investment management business LaSalle Investment Management has $480 billion of real estate assets under management JLL is the brand name of Jones Lang LaSalle Incorporated For further information visit wwwjllcom

COPYRIGHT copy JONES LANG LASALLE IP INC 2014 This publication is the exclusive property of JLL and may not be copied reproduced or transmitted in any form or by any means in whole or in part without the prior written consent of JLL

ADDITIONAL INFORMATIONThis publication is biannual and the data presented in this issue was collected between April 1st and July 31st 2014 The information contained in this publication has been obtained in the market by the Research and Market Intelligence team of JLL Brazil through sources deemed reliable however JLL does not accept responsibility for the accuracy of this information The content is merely informative it aims the general public and under any circumstances should be considered as an investment guide as such JLL does not accept responsibility for any decisions based on this publication Since JLL does not exhaust all the possibilities of the market in this publication if you need additional information and advice targeted to your needs the JLL team is available via e-mail and telephone at clientsolutionsamjllcom and +55 (11) 3043-6999

About JLL BrazilJLL brought its extensive international experience to Brazil in 1996 making it one of the first professional building management companies in the market It currently has a professional staff of around 550 working out of offices in Satildeo Paulo Rio de Janeiro and Curitiba They serve Brazilian and multi-national clients under contract in all national territory For further information visit wwwjllcombr

Andreacute RosaManaging Director

Marcelo Sasaki+55 11 3043-6897marcelosasakiamjllcom

Monica Lee+55 11 3043-6947monicaleeamjllcom

Paulo Casoni+55 11 3043 6935 21 2277 2701paulocasoniamjllcom

Roberto Patino+55 11 3043-7140robertopatinoamjllcom

Joseacute Victor Cardim+55 11 3043 7183josecardimamjllcom

Ricardo HirataHead of Research

Client SolutionsSatildeo Paulo

TransactionsOffice Division

Julia BotelhoOffice Division Leader

Market IntelligenceSatildeo PauloRio de Janeiro

Global Clients

Alessandra OsiroOperations Director

About JLLJLL (NYSE JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning occupying and investing in real estate With annual fee revenue of $4 billion JLL has more than 200 corporate offices and operates in 75 countries worldwide On behalf of its clients the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales acquisitions and finance transactions in 2013 Its investment management business LaSalle Investment Management has $480 billion of real estate assets under management JLL is the brand name of Jones Lang LaSalle Incorporated For further information visit wwwjllcom

COPYRIGHT copy JONES LANG LASALLE IP INC 2014 This publication is the exclusive property of JLL and may not be copied reproduced or transmitted in any form or by any means in whole or in part without the prior written consent of JLL

ADDITIONAL INFORMATIONThis publication is biannual and the data presented in this issue was collected between April 1st and July 31st 2014 The information contained in this publication has been obtained in the market by the Research and Market Intelligence team of JLL Brazil through sources deemed reliable however JLL does not accept responsibility for the accuracy of this information The content is merely informative it aims the general public and under any circumstances should be considered as an investment guide as such JLL does not accept responsibility for any decisions based on this publication Since JLL does not exhaust all the possibilities of the market in this publication if you need additional information and advice targeted to your needs the JLL team is available via e-mail and telephone at clientsolutionsamjllcom and +55 (11) 3043-6999

About JLL BrazilJLL brought its extensive international experience to Brazil in 1996 making it one of the first professional building management companies in the market It currently has a professional staff of around 550 working out of offices in Satildeo Paulo Rio de Janeiro and Curitiba They serve Brazilian and multi-national clients under contract in all national territory For further information visit wwwjllcombr

Andreacute RosaManaging Director

Marcelo Sasaki+55 11 3043-6897marcelosasakiamjllcom

Monica Lee+55 11 3043-6947monicaleeamjllcom

Paulo Casoni+55 11 3043 6935 21 2277 2701paulocasoniamjllcom

Roberto Patino+55 11 3043-7140robertopatinoamjllcom

Joseacute Victor Cardim+55 11 3043 7183josecardimamjllcom

Ricardo HirataHead of Research

Client SolutionsSatildeo Paulo

TransactionsOffice Division

Julia BotelhoOffice Division Leader

Market IntelligenceSatildeo PauloRio de Janeiro

Global Clients