The Guadalajara corporate market accumulated in the first five months of the year almost 20 thousand square meters of gross demand, a figure 14% higher than that registered in the same months of 2022. The Puerta de Hierro, Providencia and Nueva Zona Financiera submarkets concentrate more than 80 % of demand in the first quarter of 2023.

The demand, which has been slowly increasing, shows signs of recovery sustained by spaces in Class A buildings and which is distributed both in gray works and refurbished offices.

Consult here: May 2023 Offices Report, demand from April-May 2023 is 15% higher than that reported in 2022

Construction activity continues apace, including developments close to delivery such as B Central 270 and Margot 1297, both of which are mixed-use. In the case of Margot 1297, conditioned offices will be included instead of gray works.

Among the projects that are estimated to start this second quarter are Merkatto Airport, Nara Américas and The District; all mixed use, in which the residential use stands out.

On the other hand, vacancy has managed to decrease 2.7 percentage points in the last year and manages to close at 14.6% in the month of May 2023, partly motivated by the fact that there have been no new constructions, so the demand has been directed to occupy both the existing buildings as those buildings that are culminating and are integrated into the inventory in the city.

Currently, if a tenant seeks to locate in Guadalajara, they will have a wide variety of surfaces, where at least a dozen options would allow them to find spaces in the same building that exceed five thousand square meters.

Of interest: Tata Consultancy Services inaugurated its new facilities in Nuevo León

In Jalisco and specifically in Guadalajara, the aim is to take advantage of the nearshoring momentum with the public policy of the Jalisco Tech Hub Act, created to attract new investment intentions to the entity at the end of the first quarter of the year. As a result, investment opportunities have been established with companies such as Flextronics, HP and C3 AI, among others.

Let us remember that between February 27 and March 3, a tour was carried out in which Jalisco delegates, in conjunction with the Mexican Foreign Ministry, visited companies in cities such as Los Angeles, San José and San Francisco, in California. 

The objective of these efforts is to establish new investment commitments for the entity, estimating that it could attract close to 3 billion dollars of Foreign Direct Investment that will boost the industrial and corporate real estate markets in the entity during 2023.