If we recount the results obtained for the Mexico City corporate market during 2023, we have a positive balance that led to demand accumulating 780 thousand square meters, an amount that exceeds by a third that reported during 2022.

The quarter with the highest activity throughout 2023 was Q1 2023, which reported 254 thousand square meters, followed by the last quarter of the year where 223 thousand square meters were registered in office space rentals.

Between Polanco and Insurgentes is where the largest number of spaces rented throughout the year was concentrated, grouping together between both corridors close to half of the rental operations carried out in the country's capital. If we review the total surfaces Insurgentes and Polanco reflect 26% and 23% of the areas, respectively.

Of interest: Developers continue to invest in the transformation of office spaces

Of the number of office rental operations registered in 2023 in Mexico City, around 32 manage to accumulate 20% of the rented surfaces with surfaces ranging from 2.8 to 10 thousand square meters.

If we compare the surfaces that were still under construction in 2023 with respect to the end of 2022, we can obtain that 193 thousand square meters of new corporate surfaces began to increase the office inventory in Mexico City.

An interesting characteristic is that the large surfaces occupied during 2023 in Mexico City with areas above 2,850 square meters belong to existing buildings. In general terms, these buildings were already equipped and required little adaptation work on the part of the new tenants who came to occupy them.

Check here: 4Q 2023 Offices Report: National gross demand reports an annual increase of 23%

If, on the other hand, we study the current availability of the office buildings that are currently being built, which would be new properties to occupy, there are 35 options with surfaces of various sizes ranging from one thousand square meters to 38.7 thousand square meters. Each of these buildings has the possibility of smaller spaces ranging from 50 square meter offices to half floors or a quarter floor with options for areas in between.

The three buildings with the largest number of areas that are currently being built even at the beginning of 2024 are Espacio Condesa and Corporativo Jaime Nuno on Insurgentes and Revolución 1255 on the Periférico submarket. Espacio Condesa has spaces from one thousand square meters to the maximum surface area of 38.7 thousand square meters with a typical floor of 2 thousand square meters and 35 levels from street height.

Jaime Nunon Corporate with a typical floor plan of 1,600 square meters and 30 floors high has offices from 400 to 33.6 thousand square meters, while Revolución 1255 has 1.9 to 24.7 thousand square meters along the 19 floors high.