Monterey, NL. The demand for industrial spaces will drive office occupancy in Monterrey this year, because they require support areas for their corporations, Sergio Resendez, CEO of Monterrey, told El Economista. Colliers International in Monterey.
“All the companies that support the industry are growing, that is positive because we have seen new office spaces again, that is the positive part. The negative is that we are going to have to be more creative, since companies are demanding flexibility, and make some co-investment with developers in the part of adaptations, with long-term amortization, ”he explained.
Another of the changes brought about by the Covid-19 pandemic is that now office spaces have to be more efficient, keeping a healthy distance, and adapt open spaces more and less closed ones, he said.
According to the Colliers International Office Report, corresponding to the fourth quarter of 2021, the inventory of offices in Monterrey had an increase of 19,000 square meters, closing with 1.78 million square meters distributed in 222 properties.
Total availability in the fourth quarter was 408,000 square meters, representing a rate of 23% and remaining unchanged from the previous quarter. Instead, the construction of new buildings decreased from 270,000 square meters in the third quarter to 244,000 in the last quarter of 2021.
“In the fourth quarter the bottom was reached, however this is changing, with openings, as well as with the return of children to schools and in the afternoons to take extracurricular classes, this allows the economy to recover, because people live together again and go to the stores,” he explained.
The weighted average price was calculated at 352.86 pesos per square meter, with a slight drop compared to the third quarter.
For this reason, Sergio Resendez indicated that corporations seek flexibility in terms, because there is still no certainty of what will happen to the economy in the long term.
“We see (operations) in the short term, but the offices are recovering, right now is the opportunity to redesign the office to the new standards that healthy distance demands, although they reduce staff due to fixed issues in the office, we see more collaboration issues, spaces probably with less density”, he specified.
For the last quarter, 25 corporate properties under construction were monitored, approximately 23% concentrated in the Santa María corridor.
“Currently in Monterrey, the construction (of offices) is at its lowest level, during the last three years, due to the oversupply of the market and the effect that the pandemic had on the perspective of the demand for office spaces in the future” , indicates the report for the fourth quarter of 2021.