Workspace firm enters Brazil markets

San Francisco–based office workspace firm Knotel has expanded into Brazil.

The firm is assuming operation of 100,000 square feet space in several prominent São Paulo buildings, will follow up with a planned move into Rio de Janeiro within six months, which is expected to add an additional 100,000 square feet to Knotel’s portfolio.

The first group of prominent properties includes class A buildings in the fastest-growing corporate region of São Paulo, located around Chucri Zaidan Avenue. This is an area that attracts several multinationals and mid-large Brazilian companies. Corporate Plaza Building at Rua Alexandre Duma, 2100 is among the buildings; additional addresses will be announced later.

Knotel co-founder and CEO Amol Sarva said his company’s move into Latin America’s largest economy reflects broad recognition that the Brazil office markets are rapidly strengthening, with growing demand from global enterprises looking to establish themselves or expecting to expand. He noted that Brazil was the largest recipient of VC funding in Latin America last year with Brazilian startups accounting for 45.4 percent of reported deals closed, according to the Latin American Private Equity and Venture Capital Association.

“We couldn't be more excited to be entering the Brazilian market just at the right time,” said Sarva. “We started Knotel three years ago with an idea and a single office space in New York, and we had grand ambitions to enter the most dynamic, entrepreneurial markets in the world. It’s thrilling to see our vision coming to fruition. In an agile world, there is no longer any reason for a business to commit to a multi-year lease.”

Knotel oversees more than 100 office spaces totaling 1.7 million square feet in New York, San Francisco, Los Angeles, London and Berlin.