The results shown by the accumulated demand for offices nationwide during the first four months of 2023 almost double those reported in the same period of 2022. Mexico City, Tijuana y Monterrey are the markets that exceed the national average.

In the case of Mexico City, the demand between January and April exceeds 285 thousand square meters, where 57% of the areas that were rented were less than 500 square meters. Insurgentes, Santa Fe, Reforma y Polanco continue to lead the rents registered in this period.

Consult here: Monterrey consolidates second place in demand for offices during January-April 2023

Monterrey market registered a demand for almost 47,000 square meters during the first four months of the year, which is distributed in almost all submarkets, although the Santa Maria submarket dominates with 30%, followed by the Centro and Valle Oriente submarkets with 26 and 20%, respectively.

The main sizes demanded a move between 34 and 1.6 thousand square meters, thus showing the preferences of the tenants. Part of the demand for the sale of projects still under construction was also concentrated on the Santa Maria submarket Another trend that will advance in 2023 is the need for offices that satisfy the growing industrial demand, which often requires additional spaces to those that can be offered within industrial warehouses.

For its part, Guadalajara, which did exceed 12,000 square meters of demand in the first four months of 2023, concentrates 47% of the spaces on the Puerta de Hierro submarket and the rest is distributed equally among the submarkets: Providencia, Periférico and Nueva Zona Financiera. Specifically, the Providencia and Nueva Zona Financiera submarkets are where almost 70% of the project areas for new offices in the city are progressing.

Of interest: Industrial demand is inclined towards speculative projects at the national level

Tijuana is the only corporate market nationwide that has almost no vacant spaces and that only at the end of 1Q 2023 exceeded 13,000 square meters of demand, a figure similar to the maximum value reported in the second quarter of 2018. About the submarkets Agua Caliente and Vía Rápida transactions were registered for over one thousand square meters up to the maximum area of 2.2 thousand square meters, which was not very common in previous periods where the areas that were rented were smaller.

The gradual evolution of demand and prices that remain relatively stable or with slight increases in some markets will be the trend that we will see towards the second quarter of the year, where preferences will continue to prevail towards projects conceived with a mix of uses, mainly where the residential and commercial element.