The office market registered increases in the demand for spaces, detailed Fibra MTY in its quarterly financial report, adding that its investment will focus on the Valley of Mexico, Monterrey and Guadalajara.

According to Fibra MTY, the negative effect on the gross leasable area was mainly due to the vacating of Banco Ahorro Famsa, however the Fibra explained that the property is being reviewed for reconversion.

Check here: Office inventory grows to half of what was reported in pre-pandemic periods

Fibra Mty closed the first quarter of this year with 60 properties in its portfolio, including 19 for office use, 35 for industrial use and six for commercial use, with no new acquisitions.

The office sector comprises 46.5%, with an occupancy of 72.1%, and a gross leasable area of 207 thousand 528 square meters. At the end of the period Fibra Mty had 114 tenants, 60.5% located in properties for office use.

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At the end of the first quarter, Fibra Mty placed the assets of Casona, Los Mochis and Cuprum, which are in the process of conversion, while the Atento, Cuauhtémoc and Cuadrante properties are still under review.

As of the first quarter, Fibra Mty reached a Net Operating Income of 339.8 million pesos, according to data from its quarterly report, the impact on the NOI due to the pandemic was 1.6%, of which 1.3% corresponds to the vacancy of offices and 0.3%, due to the reduction in rental prices in contract renewals, derived from current market conditions.

In Solili you can check available offices in Monterrey, Ciudad de México and Guadalajara

Original note