After registering negative indicators for six quarters, the office sector in Mexico City (CDMX) reported a positive net absorption that exceeded 67 thousand square meters during 4Q2021.

According to the Solili platform, there were four submarkets in the capital that accounted for more than 90% of the demand.

Polanco heads the list with 30.8 thousand square meters and Insurgentes with 28.8 thousand square meters. Followed by Santa Fe and Reforma with 22 and 19.3 thousand square meters, respectively.

In addition, it was reported that the total occupation was focused on class A and B buildings, with 73 and 35 thousand square meters, respectively.

Close to 75% of the leased spaces correspond to surfaces of less than 950 square meters.

See also: The recovery of the corporate market depends on the return to face-to-face

Another phenomenon observed in this last quarter was the decrease in vacancy levels close to 70 thousand square meters. Which represents a third less than what was registered in 2020.

Offices in CDMX of category A with almost 50 thousand square meters and another 20 thousand square meters for those of class B, was the concentration of vacancy, according to the platform.

This occurred in spaces above Santa Fe (25%), Insurgentes with (21%), Polanco (16.7%), Lomas Palmas with (14.9%) and North (11.5%).

"When vacancies are analyzed, about three quarters are registered in offices between 70 and 954 square meters," the report detailed.

Despite construction delays in some developments, eight new office buildings were added to the inventory during the last period of last year.

The Neuchatel Corporate stands out with 38.2 thousand square meters; Polanco District with 60.7 thousand square meters; and Ferrocarril de Cuernavaca with 5.4 thousand square meters, all of them in Polanco.

Of interest: Corporate inventory grows 3% nationwide

Others were also settled, such as Periférico 2122, Insurgentes Sur 1446; as well as Volcán 212 and Sierra Nevada 105 on the Lomas Palmas submarket.

On the other hand, the platform found that the change of use in buildings under construction has continued, such as conversion to hotel or residential.

Such is the case of QO located in Polanco, Insurgentes 454, Popocatépetl 536 and Zacatecas 80 located in the Insurgentes submarket.

“It is a reality that hybrid work continues to be a good bet for companies; This results in a great transformation opportunity for the office sector in CDMX by innovating and creating collaborative processes with the various corporations,” the report concluded.

In Solili you can also consult available offices in Guadalajara and Querétaro

Original note