Mexico City Offices

A total of 268 thousand meters were added to inventory from 16 new buildings that were delivered during 1Q 2018. 63% of the new space delivered in Q1 2018 entered occupied, reporting high levels of net absorption.

Average prices at the broker and general market levels remained stable.

The construction activity continues dynamic and during this quarter a new class A building started construction.

Mexico City Industrial

The industrial market of Mexico City and Toluca reported the incorporation into inventory of 128 thousand square meters and a total of 76 thousand meters began construction during this quarter.

The availability rate had a decrease of almost half a percentage point and the price reported an increase of 20 cents.

The commercialization of industrial space totaled 260 thousand square meters, being the Tepotzotlán corridor the one that concentrated 50% of the total commercialization of the market.

Monterrey Offices

The class A corporate market in Monterrey is the second largest market in the country with almost 1 million square meters.

At the end of Q1 2018, it reported a construction of 274 thousand square meters. It is expected that 26 new office buildings will be added to the inventory in the next three years, increasing the inventory of this city by almost 30%.

Monterrey Industrial

The class A market of Monterrey is placed as the second most important nationwide. Its strategic location and due to the generation of clusters that have occurred in this market, has allowed it to stand out at the national level.

The dynamic behavior that this market has had allows it to report healthy vacancy rates and a very strong construction, accounting for 40 class A vessels under construction at the end of Q1 2018.

Guadalajara Offices

Prices and inventory of the Guadalajara corporate market during Q1 2018 remained the same as the previous quarter. The availability rate showed a downward trend, reporting a decrease of three percentage points.

The market shows stability and growth by selling almost 20 thousand square meters during the quarter.

Guadalajara Industrial

Just over 50 thousand square meters were added to inventory during Q1 2018 and a new warehouse in the El Salto corridor began construction.

Prices had a slight decrease of 20 cents compared to the previous quarter, the same trend that showed the commercialization of industrial space, since only 29 thousand meters were rented.

Tijuana Offices

The inventory, vacancy and construction figures remained at the same levels as reported the previous quarter, the average market price increased 71 cents.

The availability of class A space had an increase of around 1,300 square meters, specifically in the corridor of the River Zone, due to the vacating of spaces in buildings of this corridor and to which 85% of the space rented was of class B.

Industrial Tijuana

A total of 575 thousand square feet of industrial space were delivered this quarter and nearly one million square feet began construction.

The prices and the vacancy rate remained at the same levels as the previous quarter, while the construction had an increase of almost 120 thousand feet compared to the end of Q4 2017.

The commercialization activity showed an upturn, totaling a little over one million square feet.

Industrial Tecate

Having a commercial booth and proximity to one of the main industrial markets of the country, such as Tijuana, has allowed the city of Tecate to develop an industrial market, attracting important international companies.

Tecate currently has an inventory of almost six million square feet and an availability rate of around 10%. Tecate Centro is the corridor that has the construction of a single ship, however, due to the competitive price of the land, it is expected that new projects begin construction.