The corporate markets of Monterrey, Guadalajara and Querétaro have been adapting to the new labor return dynamics that has emerged as a result of Covid-19, where companies and workers have established new guidelines for occupying space in the short and medium term, at the same time as time that the preferences, design and functionality of these spaces has also mutated.

At the end of 2Q 2022, the annual increase in gross demand was 62% for Monterrey, 44% in Guadalajara and 93% in Querétaro. The gradual recovery must still be sustained over time, although the downward adjustment of the vacancy in these three markets indicates a reduction between 4 and 5 percentage points, registering at the end of July 2021 vacancies of 17.6%, 16.7% and 16.8% for Monterrey, Guadalajara and Queretaro, respectively.

However, within the changes in preferences, progress has emerged in the search for spaces by medium and small companies, in this case startups that, once the adoption of online work as the predominant modality has been overcome, require providing staff with other options that expand the range of physical and emotional well-being, while the company advances in its growth.

Check here: Resilience or adaptability of the real estate sector

The combination of online and face-to-face work establishes the need for spaces that offer the possibility of interaction to teams and the development of tasks and functions from a corporate space.

This premise has determined not only the growth in demand for coworking models that have been adapted to offer new experiences with greater flexibility in the occupation of space, deadlines and costs, but has also fueled interest in Class B spaces.

Class B spaces can offer not only a lower rent when compared to Class A with the possibility of returning to a corporate life either fully or combining it with a remote work model, but also allow other possibilities sometimes more structured in Class A options.

For this reason, in the Solili platform we have recently incorporated the measurement of indicators such as inventory, demand, prices, construction and vacancy of Class B spaces in Monterrey, Guadalajara and Querétaro motivated by the dynamism observed in our usual tours, as well as by the growing interest of customers for knowing information about this type of spaces in these markets.

Of interest: Mérida with an expanding office market and no oversupply

On average for these markets, Class A spaces make up 70% of the inventory and the remaining 30% corresponds to Class B offices.

Here we can find typologies of floor plans smaller than 800 square meters in buildings that have been on the market for longer, but due to their location conditions, maintenance and proximity to multiple related services, they become an option that achieves advantages for some tenants. in particular.

For example, in Monterrey, the average rental price of Class A spaces is $18.5 dollars per monthly square meter and there are 264 thousand square meters available in the 8 corridors that make up this market, while Class B spaces maintain an average rent of $14.4 dollars per square meter per month.

Likewise, for Guadalajara and Querétaro, Class A spaces are around $19.6 and $14.8 dollars per square meter per month, while Class B registered $13.9 and $11.4 dollars per square meter per month, respectively.

This possibility of finding a more varied offer strengthens the corporate real estate market, which will gradually find a new balance with modalities such as coworking combinations, the development of mixed uses in the midst of a scenario where a reduction in labor transfer time is favored, which in the end impact on the quality of life of workers and companies.