Philips Consolidates Into 95,000-SF Office

SAO PAULO, BRAZIL-Philips do Brasil, a subsidiary of Royal Philips Electronics of Holland, is taking about 95,000 square feet at the 1.2-million-square-foot Castelo Branco Office Park, which is now under construction. The electronics giant signed a five-year lease for the first four floors of a roughly 340,000-square-foot office building in the park, which is being developed by Tishman Speyer in partnership with Toledo Ferrari Construtora e Incorporadora.

Philips is consolidating two other offices in Sao Paulo to move into this new building, joining Redecard, which has agreed to lease 77,000 square feet. The two companies will occupy about half of the building, which is the first of six planned towers that will range from 14 to 26 stories on 27 acres. Retail and residential areas are also planned for the complex. The joint venture is also building a new road that will connect to the complex.