The corporate space market in Monterrey registered a gross demand between January and April 2022 of just over 25 thousand square meters, which places it in second place nationally, only below Mexico City.

The entity had been making progress in changing its height profile and the main companies that settled in Monterrey were inclined towards the use of iconic buildings with modern facilities and that incorporate certifications that ensured sustainability criteria.

This market developed in an environment of relatively stable rental prices, reporting $17.24 dollars per square meter per month at the end of April 2022, with a minimal variation in annual terms.

In turn, the vacancy that had been increasing month by month, as a result of the pandemic, began to register downward adjustments from November 2021, going from 21.8% to 18% at the end of April 2022.

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The combination of stable rental prices and vacancies with a downward adjustment is correlated with the slowdown in the start of new corporate constructions that provided an opportunity for demand to absorb vacant spaces in the entity.

The pandemic introduced important changes in the consumption habits of corporate spaces, which is reflected in the supply under construction. Currently, 28 buildings are advancing that group 245 thousand square meters of net profitable area.

A differentiating element in this market has been the mixed uses that are widely accepted among the main buyers and tenants in the entity. The combinations of residential and offices, or the mixtures between health spaces and hotels with corporate spaces gained followers at the end of 2021 and remain so far in 2022.

This preference allows the developer to reduce the risk of concentrating income in the same use and by obtaining a long-term buyer or tenant for health or hotel uses, for example, the viability of the project is guaranteed.

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On the tenant side, the mix of uses decreases mobility, which directly affects a higher quality of life by allowing access to various services in the same place, which took on greater value during the pandemic.

When consulting the Solili platform and filtering by buildings, we will find buildings with available offices from 146 square meters to 12.7 thousand square meters.

There is also a wide range of plant sizes that range from full plants of 265 to the maximum full plant size of 2,200 square meters.

In what remains of 2022 we will see a consistent demand advance that during the first quarter of 2022 favored rent over sales on an average area between 400 and 500 square meters, where gray work spaces were the most preferred, although conditioned spaces or with furniture already included are increasingly common within the offer of a building.