During 2Q 2021, the Guadalajara corporate market had strong growth in terms of inventory, due to new buildings that finished construction, and also in terms of vacancies due to the high levels of vacancy that were reported throughout the quarter.

The buildings delivered in the period have a net profitable area of just over 40 thousand square meters, two of them are located within the Nueva Zona Financiera submarket and another on the Providencia submarket.

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Torre Helix and Torre Niba located in the Nueva Zona Financiera corridor, both class A buildings, offer standard floors of 730 and 1,022 square meters, respectively, with an average rental price of $ 22 per square meter.

Novena México located on the Providencia corridor, has full floors of one thousand square meters but sells configurations from 110 square meters and is part of the portfolio of an important developer in the city that is about to conclude two more corporate projects within the same corridor.

Although net absorption remained negative, indicating that unemployment exceeded gross demand, the rental price increased by 50 cents on the dollar.

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This rearrangement of the market opens the options of sizes available between 200 to 2,000 square meters, although the demand was this quarter in sizes smaller than approximately 400 square meters.

Another indicator of interest is the start of new construction for 5.2 thousand square meters in a market where subleasing further supports the increase in vacancies.