Overview of the Mexican Office Real Estate Market in 2025
The Mexican office real estate market experienced a recovery phase in 2025, with growth in occupancy, reduced vacancy rates, and increased activity in traditional corporate corridors. However, it has yet to reach pre-pandemic levels.
Key Players and Their Contributions
According to CBRE, the Mexico City was at the forefront of this performance, registering a Class A and A+ office occupancy of 247,000 square meters by the end of the year—a 39% annual growth.
Datoz data indicates that the total volume of commercialized spaces in Mexico City surpassed 530,000 square meters. This figure includes new occupations, relocations, renewals, and expansions, reflecting the market’s activity throughout the year.
Vacancy Reduction and Market Activity
The vacancy rate dropped to 17.6% by the end of 2025, nearly three percentage points lower than the previous year, according to CBRE’s MarketView of Offices report for Mexico City.
Lyman Daniels, president of CBRE Mexico, Colombia, and Centroamérica, commented: “This performance reflects a gradual but sustained recovery of the Mexico City office market, particularly in the Business District.”
The Business District Regains Demand Dominance
CBRE reports that the Mexico City Business District (CBD), comprising Polanco, Reforma, and Lomas de Palmas, accounted for more than half of the annual net occupancy, once again becoming the primary driver of the corporate market.
Within this area, vacancy fell to 11.7%, below the city average, while Datoz data highlights that Insurgentes and Polanco corridors stood out for the number and size of transactions during the year.
Demand was primarily led by the financial, technological, and corporate services sectors, with significant operations from companies like GNP, Plata, and Mercado Libre. Additionally, there was a return of larger transactions with average areas exceeding 2,000 square meters, according to Datoz records.
Stable Inventory and Upcoming Offerings
By the end of 2025, the Class A and A+ office inventory in Mexico City remained stable at 7.4 million square meters, with a modest annual growth of 0.6%, as per CBRE data.
Construction activity concluded the year with 246,000 square meters under development, with nearly 40% already pre-leased.
CBRE anticipates the addition of 213,000 square meters of new offerings in 2026, mainly in Insurgentes, Reforma, Polanco, and Lomas de Palmas corridors. This will test the market’s capacity to absorb new inventory without reversing the improving vacancy trend.
Regional Market Progress with Distinct Dynamics
Outside the capital, Datoz data shows that Monterrey solidified its position as Mexico’s second-most dynamic corporate market, with approximately 82,000 square meters commercialized in 2025, driven mainly by automotive and manufacturing companies with Valle Oriente as the most active corridor.
In Guadalajara, commercialized space volume approximated 45,000 square meters, with Puerta de Hierro as the primary activity hub, fueled by consulting and logistics firms, according to Datoz.
Querétaro concluded the year with around 14,000 square meters commercialized, concentrated in Juriquilla and 5 de Febrero corridors. In Tijuana, activity remained focused on Zona Río with roughly 3,000 square meters, as per Datoz data.
Key Questions and Answers
- Q: Who led the office market recovery in 2025? A: Mexico City, according to CBRE and Datoz data.
- Q: What was the annual growth in Mexico City’s Class A and A+ office occupancy? A: 39%.
- Q: What was the total volume of commercialized spaces in Mexico City in 2025? A: Over 530,000 square meters.
- Q: What was the vacancy rate in Mexico City by the end of 2025? A: 17.6%.
- Q: Which sectors primarily drove demand in Mexico City’s office market? A: Financial, technological, and corporate services sectors.
- Q: What is the anticipated new office offerings in Mexico City for 2026? A: Approximately 213,000 square meters.
- Q: Which regional market showed the most dynamic progress in 2025? A: Monterrey, according to Datoz data.
