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Self storage has gone from being a space to store various personal items to an option to house stock for small and medium-sized retailers, especially in e-commerce

Eric Ammirati • 8/25/2022

Self storage has gone from being a space to store various personal items to an option to house stock for small and medium-sized retailers, especially in e-commerce.

Change in occupant profile

Known for storing archives and disused belongings of people and companies, self storage is experiencing a period of repositioning in the market. Driven by the rise of e-commerce, this type of space has been increasingly sought after by small and medium-sized digital retailers looking for places to store their inventory.

Attractive rents, flexible contracts, accessible location, freedom of access, in addition to security and good storage conditions are some of the factors that have aroused interest in these spaces.

The biggest beneficiaries of this type of operation are small and medium-sized companies, since the self-storage format provides freedom and accompanies the dynamism that this type of business needs. In fact, agility and the absence of bureaucracy are some of the purposes of self storage.

It is possible, for example, to access the stock daily, as digital retailers usually operate, which usually gather the orders of the day and then prepare the last phase of the logistics for the last mile delivery.

Opportunity for commercial property owners

With the emergence of this new tenant demand, a new opportunity has also emerged for idle commercial property owners: the ability to turn these locations into self-storage spaces and create new revenue streams. Commercial points, corporate slabs and even vacant areas in garages have been transformed into self-storage spaces.

Self storage still has a promising way to go in Brazil. According to the Mundo do Marketing website, the first self-storage company in the country emerged in 1993, in the city of São Paulo. This was already a popular niche in the United States, where more than 50,000 companies provide this type of service.

Brazil currently has 124,000 m² of self-storage space available in 724 units spread across 74 cities. The average asking price per m² is R$ 64.99, according to Abrass - Associação Brasileira de Self Storage. The greatest demand comes from cities with over 300 thousand inhabitants, which naturally should spread to other locations in the coming years, as it is a business model that benefits not only the players in the segment, but also owners of empty commercial properties, entrepreneurs in search for places to house its stocks and also the final consumer, who gains in speed of delivery.

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Property Management Edificio Barao de Maua

Built in 1960, the Barão de Mauá building is one of the architectural treasures of the city of Rio de Janeiro. Designed by Oscar Niemeyer together with Sabino Barroso and Lúcio Costa, it went through different periods in the country's real estate and economic market and recently gained more technology and functionality, which further enhanced its charm.

Located in the central region, it has more than 23 thousand m² of built area and 20 corporate buildings, currently 100% occupied by the largest electricity company in Latin America and one of the largest in the world. Around 750 users pass through there per day.
After an important retrofit, completed in 2018, the Barão de Mauá Building re-emerges revamped in the Rio real estate market to continue writing its history in the heart of the city.

Learn a little about the work that the Cushman & Wakefield Property Management team has been carrying out in the condominium and understand how this successful relationship has been built long before the renovation.

2002 to 2017 – Property and Facilities Management
Even before the retrofit, Cushman & Wakefield already worked with Property Management in the common areas of the condominium and also provided Facilities Management services in the private areas.

2018 – Completion of retrofit
Between 2015 and 2016, the Barão de Maurá Building was vacated to carry out the retrofit. The work was completed in 2018, the property had its facilities completely modernized, which placed it among the best-rated corporate buildings in the city, with LEED Gold certification, which proves that the project complies with strict construction use standards, in addition to the Procel A seal, which attests to its energy efficiency. The iconic architectural design has had its original characteristics preserved.

At this point, Cushman & Wakefield then resumes condominium management work.

2019 – Reoccupation
In 2019, the Barão de Mauá building opened its doors to its new occupant, which would later become the largest electrical energy company in Latin America and one of the largest in the world, becoming a single-user building.

In addition to the common areas, the Cushman & Wakefield team dedicated to the operation provided full support to the occupant during the process of reoccupying the building, going through challenging moments when the COVID-19 pandemic devastated Brazil and the world.
With delays throughout the supply chain and a direct impact on service provision, a lot of resilience and expertise was required to deal with adversity.

Another important moment in relation to occupant support also required new efforts from the team. After being incorporated by another company, the occupying company goes through a relayout process that included new reforms.

2024 – Operational Excellence Award
Having overcome the challenges, today the team is reaping the rewards of the work carried out over all these years.

The quality of the service provided was recently recognized. The Barão de Mauá Building was highlighted in the operational excellence award, which annually recognizes Cushman & Wakefield's best operations in Property Management. Result of the combined efforts of all members.
“Today we find ourselves on a “cruise” in relation to the maturity of this operation. Having overcome the challenges, we managed to stabilize all aspects and continue working to always be more efficient”, reports Monica Mariani Portfolio Manager at Cushman & Wakefield.

Stela Hirata • 6/5/2024

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