Discovering the North Submarket in Mexico City: A Vibrant Hub of Office Spaces for Rent

Mexico City's office market, renowned for its stunning architecture, vibrant culture, and fast-paced lifestyle, houses a significant corporate development center known as the North Submarket. Concentrating 10% of the total gross leasable area of offices in the metropolitan area of Mexico Valley, this submarket includes prominent commercial corridors like Atizapan, Cuautitlan Izcalli, Naucalpan, and Tlalnepantla, along with Miguel Hidalgo in Mexico City.

Over the past three years, the North Submarket has experienced remarkable growth, expanding by 9% and reaching over 760,000 square meters of office space by the end of the second quarter of 2023, as per SiiLA data. Despite the challenges posed by the pandemic, this submarket has shown signs of recovery, recording ten consecutive quarters of decreasing vacancy rates and a widespread increase in market prices since 2020.

What are this submarket's main features? The North Submarket stands out for its appeal to the government, finance, and information technology sectors, which occupy 41% of the existing space in the region. Nearly 90% of the offices here fall under Class A+ and A categories, reflecting a solid submarket with stable tenants in high-quality, modern, and well-equipped properties with access to major transportation routes. As a result, the region becomes a viable option for investors and businesses seeking to expand or consolidate their presence in Mexico City.

One of the standout properties in Mexico City's North Submarket is the Torre Mirax, marketed by FREL. This property, detailed on SiiLA SPOT, boasts LEED Gold certification for sustainable construction. This certification recognizes buildings that optimize their basic infrastructure, including the envelope and mechanical systems, to reduce environmental impact.

Located in Naucalpan, State of Mexico, the Torre Mirax offers over 31,000 square meters of leasable office space spread across 12 levels, along with commercial spaces on the ground floor and eight levels of underground parking. Noteworthy features include smoke detection systems, sprinklers, air conditioning, 24-hour security, water pumps and tanks, and a thermal and acoustic facade.

Sustainability, Comfort, and State-of-the-art Technology

Beyond its modern and avant-garde facade, the Torre Mirax is an engineering and architectural marvel designed to minimize its environmental footprint while providing tenants with a workspace surrounded by a diverse commercial zone. The surrounding area offers restaurants, convenience stores, a health center, a post office, pharmacies, schools, banks, supermarkets, easy access to major transportation routes, and public transportation.

The Torre Mirax incorporates intelligent and sustainable features, such as tertiary water treatment for all wastewater, which is then reused within the building for flushing and irrigation of green areas. Additionally, the property achieves an impressive 84% reduction in potable water consumption compared to similar buildings, according to the US Green Building Council (USGBC).

The Torre Mirax provides expansive views of the outdoors, promoting a connection with the natural environment and allowing fresh air to improve occupant comfort. The building's construction is noteworthy, with 21% of its materials being recycled and equipped with highly efficient lighting and air conditioning systems free of chlorofluorocarbons, resulting in an 18% annual energy cost savings compared to similar buildings. 

If you are interested in exploring the availability of this and other properties, please visit SiiLA SPOT or contact us at spot@siila.com.mx.