Offices for Rent in Mexico. Revealing the Top Players of the First Half of 2023

In the dynamic world of commercial real estate, the corporate sector's shuffling continues to make waves. SiiLA is meticulously tracking the comings and goings of tenants within Mexico's prime office hubs, focusing keenly on those of exceptional quality (Class A+ and A). Armed with consolidated data from the first half of 2023, REsource's editorial team has crafted a revealing ranking spotlighting the companies that secured leasing contracts in the largest corporate spaces across the national real estate landscape. 

Vigilantly monitoring lease transactions is pivotal for dissecting real estate trends, offering a robust informational foundation for property valuation, steering investor and developer negotiations, and financial strategizing.

According to SiiLA Market Analytics, the lease activities of the initial half of 2023 zeroed in on top-tier accommodations. An astounding 84% of leases transpired within Class A+ and A spaces, predominantly within Mexico City. The central business district accounted for a substantial 37%, followed by Periferico Sur and Insurgentes submarkets at 36% and 20%, respectively. Heavy hitters such as American Airlines, Citibank, ISSSTE, and Mercado Libre are among the prominent tenants in the limelight. However, the three most substantial transactions (per square meter) stand as follows:

1.- Citibank – Torre Anseli (Patio Revolucion)

Securing the pole position is Citibank, one of the globe's largest American banks, currently in the process of initiating an IPO on the Mexican Stock Exchange for the sale of its Mexican subsidiary, Banamex. Earlier this year, the corporation leased over 14,500 square meters in Torre Anseli in Mexico City's Periferico Sur submarket. Armed with a five-year contract, Citibank is poised to establish a headquarters within a Class A+ property boasting LEED Gold certification and a superb location, complete with access to the Portal San Angel shopping center and proximity to the Barranca del Muerto Metro station.

2.- HDI – Insurgentes 1431 / IS 1431

HDI Seguros, a subsidiary of Talanx, a prominent German insurance group, has been operational in Mexico since 2009. By the close of the first quarter in 2023, HDI Seguros inked a five-year agreement for the Insurgentes 1431 building, nestled within Mexico City's Insurgentes submarket, occupying nearly 6,000 square meters within this sustainable LEED Gold-certified Class A+ establishment.

3.- ISSSTE – Reforma 122

This year, the Institute of Social Security and Services for State Workers (ISSSTE) renewed its five-year contract for office space at Paseo de la Reforma 122, a property in the heart of the country's central business district. Within this Class B building, the government agency leases over 5,500 square meters.