The Guadalajara corporate market has managed to spin 5 consecutive quarters with positive net demands, registering the last one at the end of the third quarter of 2022 with almost 20,000 square meters, when two years ago the figure was positioned in negative territory.

This corporate market has an inventory where Class A buildings dominate with 70% and the remaining 30% corresponds to Class B buildings. There is an equitable distribution in the 8 subamrkets that comprise it, although the Puerta de Hierro, Nueva Zona Financiera and Vallarta-Américas submarket stand out and Vallarta-Americas where 60% is accumulated.

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If we measure the accumulated net demand between January and September 2022, it has been 36 thousand square meters, the same amount that exceeds 3.6 times what had been registered in the first three quarters of 2021. For its part, vacancy has managed to decrease three points percentages during the last year registering 15.5% at the end of October 2022.

If we compare the vacancy at 3Q 2022 with that of the previous quarter, the contraction was 2.2 percentage points and part of the reduction is associated with the composition of gross demand in the third quarter of the year, where more than 70% of the number of closings was concentrated on surfaces that exceed 200 square meters. However, the range of surfaces that exceeds 500 square meters managed to concentrate 70% of the closures if the total surfaces are analyzed.

In a matter of preferences, the tenants equally shared the rent for refurbished offices with the rent for offices in gray works. The Puerta de Hierro submarket stood out with 45% of the total absorption due to the expansion of a company in The Landmark complex.

When we focus on the available spaces, there is a wide range of sizes from 64 square meters to just over 13,000 square meters in the same building that is located on the Vallarta-Americas submarket with 23 levels and with the possibility of renting by floors. type whose surfaces are 1,329 square meters.

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It is in these same submarkets that rental prices are recorded above average with $20.5 dollars per monthly square meter in Puerta de Hierro and $18.9 and $16.9 in Nueva Zona Financiera and Vallarta-Américas, respectively. In general terms, prices have not registered major shocks so far this year.

Retailers during Q3 2022 perceived an office market with a lot of movement, especially in the rental of spaces, in a market that, although it has adjusted its vacancy rate downwards significantly, still maintains this indicator above what was registered in months prior to the pandemic.

Regarding the purchase of offices, it is still below the rent and the marketers highlight that there was a rise in starting prices in the market, for reasons such as inflation and the increase in costs of construction materials.