At the end of the first quarter of 2022, if we analyze the geographic and submarket distribution of the vacancy of the 3.4 million square meters that are located nationwide, Mexico City concentrates just over 2.7 million square meters, followed by Monterrey y Guadalajara, with 270 thousand and 176 thousand square meters, respectively.

In the case of the capital of the country, five submarkets group 80% of the unoccupied offices, which is distributed almost evenly over the Norte, Reforma, Santa Fe, Polanco e Insurgentes submarkets.

In the case of Monterrey, there are four markets that concentrate just over 86% of vacancies, where Santa María and Valle Oriente group 65 and 62 thousand square meters of available space. Santa Maria specifically has offices ranging from 52 square meters to 26 thousand square meters located on Tower 6 Santa Maria.

When reviewing the vacancy in Guadalajara, there are three submarkets that concentrate just over 85% of the vacancy on Puerta de Hierro, New Financial Zone and Providencia with 64, 37 and 21 thousand square meters of offices available for sale and/or rent.

Check here: The new approaches that will come in the work modalities

When analyzing the group of medium-sized markets such as Puebla y Querétaro, the vacant corporate spaces total 86 and 84 thousand square meters, respectively. Puebla is the entity at the national level that has the highest relative vacancy rate at the national level with 26% at the end of 1Q 2022.

The Puebla market has available spaces ranging from 135 square meters to 23.8 thousand square meters, this last footage corresponds to the Class A building called Inxignia, located on the Angelopolis submarket with 46 floors and 552 square meters of standard floor plan.

Querétaro, whose corporate market gave a significant rebound in gross demand in 3Q 2021 registering 34 thousand square meters quarterly, has at the end of 1Q 2022 offices whose surface area ranges from 40 to 9.6 thousand square meters where the maximum available size is offered by the Class project A Corporativo Uptown II on the Juriquilla submarket.

Of interest: Reconversion of offices to hospitals gains ground after pandemic

Finally, in emerging markets such as León, Tijuana y Mérida, the footage of available offices reaches 27 thousand, 19 thousand and 16 thousand square meters of vacant offices, which represents 13.6%, 9.7% and 13.4% with respect to their respective inventories.

The largest surfaces of these markets are located on the City Center León project with 14.2 thousand square meters located on the Campestre-Country submarket in León, the Business Hub project located in Tijuana on the Aguascalientes submarket with 9.2 thousand square meters and finally The Sky that offers 8.6 thousand square meters in an iconic corporate building on the North Cape in Mérida.

We can identify that the most institutional and mature markets concentrate the greatest oversupply, since investors, resources and the potential for demographic and socioeconomic growth coincide there, which will make it possible to support demand in the medium term.

At present, along with the ravages that the pandemic could have caused, other considerations of a national political nature, such as the attitude of support for private investment and the advance towards clean energy processes, are key for developers to be able to resume the path that has been followed. seen in previous quarters, mainly in the corporate market that demands clear rules to continue attracting foreign direct investment.