Mexico City Commercial Real Estate and Office Space for Sale

Our Mexico City book is commercial, and only commercial. Twelve assets, all of them corporate office: full floors, floor plates within class A towers, and in two cases entire buildings. If you are looking for an apartment in Condesa, this is not the page for it.

What we hold and where

Santa Fe is the largest concentration, on and around Prolongacion Paseo de la Reforma. It is the purpose built corporate district in the west of the city, developed from the 1990s onward, and it holds the newest large floor plates in Mexico City. Towers here are designed around corporate occupation rather than converted into it, which shows in the column spacing, the core placement and the parking ratios.

Paseo de la Reforma is the historic spine and the address that still carries the most weight. Floors here sit in the towers along the avenue between Chapultepec and the Centro Historico, with metro and Metrobus at the door.

Polanco is the prestige submarket, denser and more constrained, with smaller plates and higher rents per square metre. It suits an occupier who wants the address and the neighborhood rather than the largest possible floor.

Insurgentes Sur runs south from the center and is the corridor most companies actually take when they need scale at a sensible number. Lomas Altas and the Bosques area west of the city hold the remainder.

How this stock is priced

Office assets here are quoted by the square metre rather than by the unit, and the floors we currently hold run from around $2,500 USD to about $5,600 USD per m² depending on the submarket, the age of the building and the certification. Two are offered as whole buildings, the larger of which is a Santa Fe tower at $16,700,000 USD.

Total areas are correspondingly large. The median across our current assets is roughly 17,400 m², which reflects that most of these are multiple floors offered together rather than single suites.

Who it suits

Corporate occupiers buying rather than leasing, institutional and family office buyers looking for income producing office in a market priced well below its North American equivalents, and developers or repositioning buyers looking at older stock in established addresses.

It is a different business from the rest of our book and we treat it that way. The questions are zoning, floor plate efficiency, parking ratio, certification, tenancy and title, not bedrooms and beaches.

What to watch

Mexico City sits on a lake bed and building performance in a seismic event is a real diligence item rather than a formality. Ask for the structural documentation and the building's post 2017 assessment.

Check the certification claim specifically. LEED and comparable ratings are commonly advertised and less commonly current, so ask for the certificate and its date rather than accepting the marketing.

Confirm the tenancy position, the remaining lease terms and the service charge base before you price anything. On an income asset those three things move the number more than the headline rate per square metre does.

Prices on this page are as quoted to us for our current assets. They are not closed transactions and they are not comparables. Fuller information on any of these buildings, including floor plates, tenancy and technical documentation, follows a genuine expression of interest.