The class A office real estate market in the city of Querétaro begins the second half of 2021 with similar values in gross absorption than in the second quarter, with a little more than 4 thousand square meters and a positive value in net absorption greater than 34 thousand meters, which means the double reported in 2Q 2021.

The rental of spaces was predominant in the market, condition of delivery in gray work and with an average of 300 square meters of surface, characteristics that have been maintained since the previous quarter.

The Juriquilla submarket stands out with its highest value during the month of September with 740 square meters. Regarding the market in general, the maximum number of square meters absorbed occurred in July with 61% of the total in the quarter.

The vacancy of spaces continues at values close to 1,100 square meters, as in the previous quarterly period, although compared to the same period in 2020, there was a decrease of almost 50%.

Check here: Increase demand for offices in Guadalajara by 6% during 3Q2021

The Central South submarket stands out with 478 square meters, which represents 43% of the total in the city.

As a relevant point in terms of inventory, during this quarter work was completed on the first corporate building of the Querétaro District complex, a project carried out by the developer Parks in conjunction with Santander.

This project includes the construction of 4 office buildings, of which the first will house staff from the banking company, which has already been delivered to begin the conditioning of the spaces.

The building has an area of around 32 thousand square meters and is located in the 5 de Febrero submarket, where Empresalia is located, one of the important corporate complexes in the city.

Of interest: Dana expands its plant in Querétaro

Another of the projected developments in the city of mixed uses is Volé, it will have residential, commercial, corporate and hotel use; located on the Juriquilla submarket

and once the corporate phase is delivered, it would add around 9 thousand square meters to inventory.

For this market there is the possibility of ending the year with a positive outlook, in which demand and vacancy remain at the same levels as in this period, which in the end results in a positive number in net absorption as has been recorded since Q1 2021.

Companies of international scope maintain their interest in the state for investment not only in the industrial field but also in the corporate, both for the construction of new buildings and for the opening of their offices, so that the recovery of the corporate real estate sector is you can earn more fluidly by the end of the year and even early 2022.