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2005

Reporte del Mercado Inmobiliario

Real Estate Market Overview


Contenido · Contents
2005

PANORAMA ECONÓMICO · ECONOMIC OVERVIEW 1

CIUDAD DE GUADALAJARA

MERCADO DE OFICINAS · OFFICE MARKET


Oferta · Supply 3
Demanda · Demand 5
Precios · Prices 5
Resumen de Actividad de Mercado · Summary of Market Activity 8
Corredor de Oficinas · Office Sub-Market 9

MERCADO INDUSTRIAL · INDUSTRIAL MARKET


Oferta · Supply 10
Demanda · Demand 12
Precios · Prices 13
Corredor Industrial · Industrial Sub-Market 14

MERCADO COMERCIAL · RETAIL MARKET


Oferta · Supply 15
Demanda · Demand 16
Precios · Prices 17
Corredor Comercial · Retail Sub-Market 20

DEFINICIONES · DEFINITIONS 21

La información en este reporte fue obtenida de fuentes consideradas como The information contained herein has been obtained from sources deemed as
fidedignas. Sin embargo, Colliers International no se responsabiliza de reliable while every reasonable effort has been made to ensure its accuracy we
errores o cambios de último momento. cannot guarantee it. Colliers International assumes no responsibility for any
inaccuracies.
Panorama Económico · Economic Overview
2005

ECONOMIC OVERVIEW
2004 provided the Mexican economy with favorable conditions. During the first nine months of the previous
year, Mexico went through an evident economic deceleration. Fortunately, the industrial sector was of
paramount importance for the production activities, mainly within the exports field, thus generating a more
favorable result for the last quarter in 2003.

By the end of the first half in 2004, the Mexican economy maintained its growth rate, even surpassing
5%*. With the GNP also increased despite the downward trend shown in the last six quarters.

Such scenario would not have been possible without the contribution of other elements that, by the
second quarter, also fostered growth in the Mexican economy, giving light to the possibility of maintaining
sustainable growth until the end of 2004.

The fast US economic recovery as of the third quarter strongly encouraged the in-bond industry exports and
production. Likewise, the private investment started reactivating, while employment increased by 3.9%
during the second quarter and the actual salary recovered 8.5% pursuant to the last Government Report
issued by the President of Mexico, Mr. Vicente Fox. Moreover, the international environment was much
more favorable this year, thus entailing great benefits for the Mexican economy performance.

The addition of high oil prices meant an increase on the Mexican external accounts, and governmental
during the year, favoring the exchange rate stability with the US dollar.

Economic indicators registered in 2004, showed GNP attained a 4% growth , whereas inflation grew 5.3%.**
The nominal exchange rate averaged of 11.28 Mexican Pesos per US Dollar, maintaining an upward trend
throughout the year. With the unemployment rate staying at 3.75% of the Economically Active Population.

Estimated figures issued by Grupo de Economistas Asociados (GEA) has inflation expected to be reduced
over 1% and an average exchange rate of 11.60 Mexican Pesos per US Dollar.

Internal interest rates are seen to increase over one percentage point, due to a from a more restrictive 1
monetary policy. And the economic growth is expected to be smaller than 3.8% attained last year.

* Font: Informe Económico. BBVA Bancomer. Octubre 2004

** Font: Departamento de Estudios Macroeconómicos y Políticos de BBVA Bancomer.


2005

GUADALAJARA CITY
Guadalajara
2005

OFFICE MARKET

SUPPLY

The office market in Guadalajara is made up by 113 properties. As of December 2004, the inventory
of office rental spaces in Guadalajara offered 1,200 sq.m. more than the previous year resulting from
the addition of the Edificio Romanos, an A-class building in the New Financial Area sub-market to the
inventory.

New Building in Guadalajara City, 2004

Building Class Corridor Area

Edificio Romanos A Nueva Zona Financiera 1,200 m2


Total 1,200 m2

The amount of office showed a downward trend within the office market, except for the Chapultepec
sub-market having a slight increase of approximately 3% if compared to 2003 due, to the availability
offered by the "Torre Chapultepec" building with 16,000 sq. m. and the withdrawl of some companies
from the market. (Refer to diagram "Comparison: Availability by Office submarket, 2000-2004.
Including Classes: A, B and C").
OFFICES

Comparative: Office rental space availability by sub-market, 2000-2004.


Includes Classes: A, B and C.

25,000

20,000

3
15,000

10,000

5,000

0
Nueva Zona López Mateos Plaza del Sol Chapultepec Providencia Alrededores
Financiera Américas Vallarta

2000 2001 2002 2003 2004


Corridors/Year
Guadalajara
2005

It is important to mention that 2004 witnessed some interesting facts in connection with the availability of
office rental spaces: the market was expanded by means of houses offered as office with those locations,
close to office sub-markets. The same happened with shopping centers such as Concentro, Plaza Bonita and
Eximoda who changed their use license to operate as office areas as well.

By December 2004, the sub-markets offering the biggest availability of office are as follows: Chapultepec with
26% vacancy rate (20,300 m²), Torre Chapultepec offers 16,000 sq. m. Plaza del Sol sub-market’s vacancy
rate goes to 25% (19,073 m²) and the World Trade Center Guadalajara building has 12,000 sq. m. available for
rent. The Surrounder sub-market has a 19% vacancy rate and the Concentro building, a former shopping
center, offers 10,000 sq.m. of available space approximately. (Refer to diagram “Available Office rental space
by sub-market, percentage”)

Available Office rental space by sub-market (percentage)

Nueva Zona
Alrededores Financiera
19% 16%
López Mateos-
Providencia Américas-Vallarta
7% 7%

Plaza del Sol


Chapultepec
25%

OFFICES
26%

With regard to the office supply within industrial parks, Parque Tecnológico II (Hines) has 303 sq. m. available
and Intermex offers an additional 1,500 sq. m. in the southern area of Guadalajara. 4
INVESTMENT

As mentioned, “Torre Chapultepec”, former Torre Multiva, a 26-story (A+) building offers approximately 16,000
sq. m. and considered as one of the most representative buildings in the City of Guadalajara. It was recently
offered to the market for auction in 2004 and acquired by Grupo Alsavisión for approximately 200 million
Mexican Pesos. This building has typical floor areas of 620 sq. m. with net lease rates ranging from US $17.00
to US $22.00 per sq. m. a month.
Guadalajara
2005

DEMAND

Generally speaking, the demand for office rental in the City of Guadalajara has been steady. 2004
showed a clear trend for leasing of small rental areas, between 50 to 200 sq. m. in the different
office sub-markets as well as office corporate buildings. There was activity in industrial parks with
areas ranging from 1,000 sq. m. to 2,000 sq. m.

In 2004, Class B buildings had the highest absorption with 6,200 sq. m. in total. This due to the
fact this category of buildings offer the most reasonable rates in the market. Class A buildings
registered an absorption of 3,100 sq. m. with many of those tenants moving from houses or B class
buildings (Refer to chart"Summary of activities of the Office rental space market in the City of Guadalajara,2004")

The New Financial Zone and Plaza del Sol sub-markets recorded leasing transactions over 1,500
sq.m. As well, significant leasing transactions within "Intermex" and "Tecnológico II" industrial parks
were recorded, with Intel, representing approximately 2,000 sq.m. of office rental space. (Refer
to chart "Relevant office rental space transactions conducted in 2004").

Relevant office rental space transactions conducted in 2004

User Location Corridor Area


M2
Intel Parque Industrial Tecnológico II Alrededores 2,000
Freescale Intermex Alrededores 490
Torre Silva GWTC Plaza del Sol 800
Brayco Proyectos Américas 1592 Nueva Zona Financiera 500
Brockman & Schuh Américas 1592 Nueva Zona Financiera 500
OFFICES

HQ Parque Integral Alrededores 950


Total 20,761

PRICING

5
In 2004 office rental rates were stable when comparing with those in 2003. We experienced companies
reviewing their leasing agreements aiming at relocating their offices into better quality buildings. (Refer to
chart: Historic record: Monthly Leasing Prices (USD / sq. m.) and Availability Rate, 2000 – 2005. (Includes
Classes: A, B and C).
Guadalajara
2005

Historic record: Monthly Rental Rates (USD / sq. m.) and Availability Rate, 2000-2005.
Includes Classes: A

US/sq. m. Price Vacancy % Vacant

19 40.00%

35.00%

30.00%
18
25.00%

20.00%

15.00%
17
10.00%

5.00%

16 0.00%
2000 2001 2002 2003 2004 2005*
Year

OFFICES
* Forecast

If classifying by building, A-Class office rental areas by December 2004 had rental rates ranging from
US $13.00 to US $19.00 per sq. m. a month, followed by B-Class office areas ranging from US $10.00 6
to US $14.00 per sq. m. a month. Class-C office areas ranged from US $6.00 up to US $8.00 per
sq. m. a month. (Refer to chart “Monthly Leasing Price Ranges per sq. m. by sub-market and Class”)
Guadalajara
2005

Monthly Rental Rates per sq. m. by sub-market and Class.

Submarket Class Asking Rental Rates


max min

A $13 $19
Nueva Zona Financiera
B $10 $14
C $6 $ 8
All $9.67 $13.67
López Mateos – Américas - Vallarta A $12 $12
B $9 $13
C $7.96 $9
All $9.65 $12.33
Plaza del Sol A $16 $18
B $9 $12
C $7 $9
All $10.67 $13
Chapultepec A+ $17 $22
A $17 $20
B $9 $13
C $6 $7
All $12.25 $15.50
Providencia A $14 $14
B $10 $14
C $8 $11
OFFICES

All $10.67 $13


Others A $13 $16
B $9 $12
C $5 $9.96
All $9 $12.65

7
Guadalajara
2005

Office rental space market summary of activities in the City of Guadalajara, 2004.

Avarage asking
Bldgs. Office Vacant rental rates Vacancy Yearly
Submarkets Class Surveyed Inventory Space (m2) / m2 Rate Absorption

Six main corridors A+ 1 15,996 15,996 18.58 100.00% 0


A 9 17,501 17,501 12.20 29.73% 3,074
B 44 177,783 24,715 11.79 13.90% 6,177
C 59 166,668 18,633 7.94 11.18% 176
Todos 113 419,317 86,908 12.63 18.33% -7,198
Nueva Zona Financiera
A 5 25,161 3,621 14.86 14.39% 1,635
B 8 22,694 1,894 12.63 8.35% -1,294
C 9 32,806 7,738 7.55 23.59% 1,265
Todos 22 80,661 13,253 11.68 16.43% 1,606

López Mateos Americas Vallarta A 1 5,232 825 12.38 15.77% 0


B 5 21,500 1,322 12.14 6.15% 636
C 21 51,309 3,632 8.44 7.08% -545
Todos 27 78,041 5,779 10.99 7.41% 91

Plaza del Sol A 1 18,710 12,043 16.81 64.37% 1,552


B 10 29,684 4,193 10.73 14.13% 1,250
C 9 23665 2,837 7.80 11.99% -434
Todos 20 72,059 19,073 11.78 26.47% 2,368
Chapultepec A+ 1 15,996 15,996 18.58 100.00% 0

OFICINAS
A 0 0 0 0.00 0.00% 0
B 7 25,965 2,672 11.28 10.29% -129
C 10 33,744 1,632 6.63 4.84% -397
Todos 18 75,705 20,300 9.12 26.81% -526
Providencia
A 1 3,200 0 14.15 0.00% 550
B 9 16,097 1,893 12.92 11.76% 3,338
C 6 12,803 412 10.29 3.22% -72 8
Todos 16 32,100 2,305 12.45 7.18% 3,266
Alrededores
A 1 6,567 1,012 15.02 15.41% -113
B 5 61,843 12,741 11.01 20.60% 2,376
C 4 12,341 2,382 6.93 19.30% 359
Todos 10 80,751 16,135 10.99 19.96% 2.622
Guadalajara
2005

CORREDORES DE OFICINAS
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Guadalajara
2005

INDUSTRIAL MARKET

SUPPLY
By December 2004, the industrial market vacancy was 3.2%, five percentage points lower than last year
(8.3%). The decrease was due to the steady growth by this sector and the lack of any new speculative building
been built.

It is expected that 2005 will witness additions to the inventory with “Natsteel” offering 19,000 sq. m. and
“Lite On” with 16,834 sq. m. As well Tecnologico II (Hines) and CPA’s industrial park, plan to expand their
inventory this year with a total of 20,000 sq. m.

In the Guadalajara industrial market, A-Class industrial area represents 88% of the rentable area available
in the market, or 49,700 sq. m.

The Periférico Sur sub-market recorded the highest availability of industrial vacancy with 22,000 sq. m. of
both, Class A and B industrial premises and warehouses. With “El Bosque II” Industrial Park offering 11,500
sq. m. out of its total of 47,000 sq.m.

The sub-market offering the smallest supply of rentable area is the Guadalajara Norte, with only 13,000
sq. m., in such area as, “San Angel”and “Integral”, both Class-A industrial parks offering 6,500 sq. m. and 4,500
sq. m. respectively. (Refer to chart “Distribution of the Industrial rental space supply by sub-market, 2004)

Industrial Supply (Industrial Buildings and Warehouses class A and B by Submarket, 2004

INDUSTRIAL
Submarket Built Area m2 Total m2 Vacant Asking Net Monthly Rent Percentage
USD/m2 of
submarket

Periféfico Sur 206,000 22,280 $ 4.75 44.81%


El Salto Chapala 845,793 14,437 $ 4.50 29.04%
Guadalajara Norte 731,792 13,000 $ 5.30 26.15%
Zona Industrial 47,600 0 - - 10
Guadalajara Poniente 11,000 0 - -
All 1,842,000 49,717 $ 4.85 100%
Guadalajara
2005

With regard to the industrial land supply, El Salto Chapala sub-market records higher availability with up to
1,152,000 sq. m. mainly due to the land in “Cedros” industrial park amounting to 400,000 sq. m. and land
available in “San Jorge” and “Aeropuerto” offering up to 250,000 sq. m. and 220,000 sq. m. respectively. This
is followed by Santa Anita sub-market offering 355,000 sq. m. of land. (Refer to chart “Distribution of the
Industrial land supply by sub-market, 2004”)

Distribution of the Industrial Land Supply by Submarket, 2004

submarket total land sq, m. Available area Average Asking Sale Price Percentage of
submarket

El Salto Chapala 3,471,792 1,152,321 $22 65.23%


Periféfico Sur 1,112,254 355,523 $110 21.73%
Guadalajara Norte 2,443,000 189,227 $170 10.71%
Guadalajara Poniente 110,000 37,000 $ 120 2.09%
Zona Industrial 64,126 4,250 $ 185 0.24%
All 7,201,172 1,766,481 $ 133.40 100%

Industrial Supply Distribution by Submarket, 2004 (Industrial buildings and warehouses)


All (49,700m2)
INDUSTRIAL

Guadalajara Norte
28%

El Salto Chapala
45%

11

Periférico Sur
29%
Guadalajara
2005

Industrial Land Supply Distribution by Submarket, 2004


All (1,766,500m2)

Guadalajara Norte
11%
Guadalajara Poniente Periférico Sur
2% 22%

El Salto Chapala
65%

INDUSTRIAL
INVESTMENT

In 2004, two important investments took place, with the sale leaseback of the “Nestlé” building, 16,500 sq.
m. and “Lite On” facility, 16,834 sq. m. The latter will be available for lease in the second half of 2005.

SUPPLY

In general terms, from January to December 2004 the industrial market in Guadalajara was dynamic and 12
showed a clear tendency towards leasing of existing industrial premises and warehouses. Among those, the
most relevant are: Ryder in El Bosque II industrial park with 22,400 sq. m. and both, Zimag with 21,000 sq.
m. and Sabritas with 12,400 sq. m. in the Guadalajara Technology Park. (Refer to chart “Most relevant
transactions conducted within the Industrial Market, 2004”)
Guadalajara
2005

Most relevant transactions conducted within the Industrial Market, 2004

Tenant Industrial Park Kind of transaction Area sq. m.

Sigma El Salto Lease (Land) 60,000


Ryder El Bosque II / G Accion Lease (Warehouse) 22,454
Zimag Guadalajara Technology Park / CPA Sale (Land) 21,000
Pisa Parque Industrial Guadalajara Sale (Land) 19,000
Verde Valle Guadalajara Technology Park / CPA Sale (Land) 18,109
Manufacturas TESA Hines Tecnologico II Lease (Warehouse) 15,868
Liverpool Guadalajara Technology Park / CPA Lease (Warehouse) 12,672
Sabritas Guadalajara Technology Park / CPA Lease (Warehouse) 12,400
Plásticos la Ardilla Guadalajara Technology Park / CPA Sale (Land) 12,000
OGS'S Guadalajara Technology Park / CPA Sale (Land) 10,492
Ciosa Autopartes Guadalajara Technology Park / CPA Sale (Land) 10,042
Sana Farmaceutica Guadalajara Technology Park / CPA Sale (Land) 9,363
Sabritas Guadalajara Technology Park / CPA Lease (Warehouse) 7,040
Andrea Parque Industrial Guadalajara Sale (Land) 6,900
PITIC Parque Industrial El Bosque II Lease (Warehouse) 4,428
TRACSA Parque Industrial El Bosque II Lease (Warehouse) 4,210
Ryder Parque Industrial Guadalajara Lease (Warehouse) 2,600
Anixter Ecopark Lease (Warehouse) 2,500

This sector shows the significant recovery with companies increasing their staff through expansion of their
INDUSTRIAL

business’s and movement of operations for the United States to Mexico. Among those: Flextronics, expands
from 6,000 to 8,000 employees and Yakult invested US $30 million in San Jorge Industrial Park, hiring 350
workers. Also Sigma’s acquisition of approximately 6 hectares of land in El Salto industrial sub-market which
will see a new 25,000 sq. m. facility been developed in 2005.

PRICING

13 In 2004, the industrial land prices (US/sq.m.) did not register movement due to the lack of opportunities
and the reluctancy of owners to lower prices as the industrial market in Guadalajara is limited.

Land zoned for industrial use outside industrial parks registered sales ranging from US $18.00 up to US
$30.00 per sq. m. Most of these been located in the “El Salto” industrial sub-market.

In turn, the leasing prices for industrial facilities showed a steady trend if compared to 2003, with Class A
and B industrial facilities renting from US $3.00 to US $4.50 per sq.m. / month.
Guadalajara
2005

CORREDORES INDUSTRIALES

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AEROPUERTO INTERNACIONAL
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INDUSTRIAL SUBMARKET 3 PERIFERICO SUR


1 EL SALTO SUBMARKET 4 OLD INDUSTRIAL ZONE
2 THE GUADALAJARA 5 BELENES /
INDUSTRIAL PARK SAN JUAN DE OCOTAN
Guadalajara
2005

COMMERCIAL MARKET

SUPPLY
In 2004 the supply for commercial rental spaces in Guadalajara shows a downward trend due to the high
demand for rental spaces inside A class “in-fashion”shopping centers such as “Centro Magno” and “La Gran
Plaza” offering combined vacancy of 1,000 sq. m.

B and C-rated shopping centres representing the higher percentage of the total available are: “Plaza Revolución”
with 31%, “Plaza Patria” with 2% vacancy rate as well as “Plaza del Sol” with 1% available (2,500 sq. m.) (Refer
to diagram “Available rental space by Shopping Center (percentage)”)

Distribution of the rental space offered in Shopping Centers


Classes: A, B and C (percentage).

La Gran Plaza
Plaza Pabellón Plaza Independencia
33% 3%
13%
Plaza del Sol
1%
COMMERCIAL

Plaza Patria
2%

Centro Magno Plaza Revolución


17% 31%

“Forum del Calzado” shopping center in the Avenida México area will offer a total rentable area of 3,000
15 sq. m. distributed in 55 rental units with monthly rates being US $22.00 per sq. m.

In 2004 “Plazas Outlet Guadalajara” shopping center was under construction, located at López Mateos Sur
(Surrounding sub-market). This project is made up by 35,000 sq. m. of rentable area of which approximately
50% has been sold. The Plaza is made up of 125 commercial units for Specialty stores, 14 for fast-food, 14
cinemas, 4 restaurants, banks, supermarket, gas station, gym and 2,500 sq. m. to be used as a family entertainment
center. (Refer to chart “Shopping Center under construction (sq. m.)”)
Guadalajara
2005

Shopping Center under construction sq. m.

Shopping Center Zone Area sq. m.

Plazas Outlet Guadalajara Alrededores 35,000 sq. m.


Torrena Plaza del Sol n/d
All 35,000 sq. m.

The 306 m. high Torrena’s building is to begin construction in 2005. It’s estimated to take 20 months and
will be located at Lopez Mateos and Mariano Otero avenues. This will be the tenth tallest tower in the world
and the tallest in Latin America, with construction costs of $48 million. It will host offices related to
communications and a substantial entertainment area.

INVESTMENT

From January to December 2004 the commercial market was active in connection with investments made
in the following business’s with the opening of convenience stores such as Oxxo and 7 Eleven, supermarkets
(Waldo’s), drugstores, banks and foreign dry cleaning companies such as Cinq a Sec (French) and Waschen
(German). These latter two companies started operations in Guadalajara at the end of 2004.

SUPPLY

COMMERCIAL
At the beginning of 2004’s, two events took place: the opening of “Sport City Fitness Club” with a US $15
million investment in the Minerva area. The expansion of “World Gym” opening a third branch in Av. Naciones
Unidas, as well as the further expansions of WalMart who invested US $18 million in its new store at Lopez
Mateos and created 200 direct jobs. The Dutch clothing chain, C&A expanded in 2004, with a new store
opened in “Plaza Galerías”. Grupo Carso invested US $18 million and opened Sears and Sanborn’s stores
in “Plaza Galerias”, creating 400 direct jobs. Mixup music store also expanded, representing a US $2 million
investment. Operations of El Globo bakery, The Coffee Factory and Café Café are actively expanding in the
market. (Refer to chart “Most relevant transactions conducted within the Commercial Market, 2004”)
16
Guadalajara
2005

Most relevant transactions conducted within the Commercial Market, 2004

User Zone Built Area m2

WalMart Tlajomulco 10,000


Liverpool Plaza Galerías 10,000
Sears Plaza Galerías 10,000
Cinépolis Plaza Galerías 10,000
Superama Providencia 4,000
Superama Puerta de Hierro 4,000
Toyota Acueducto 4,000
Renault Américas 2,000
C&A Plaza Galerías 2,000
Zara Plaza Galerías 2,000
World Gym Naciones Unidas 2.000
Sport City Minerva 2.000
Home Depot López Mateos n/d
YAK Plaza Galerías 2.000
YAK Río Nilo 2.000
COMMERCIAL

PRICING

In 2004 the commercial rental rates in Guadalajara stayed in line with 2003.

The prices of rental areas within Class A shopping centers on a monthly basis were reported to go from
US $17.00 to US $43.00 per sq. m. The commercial rental spaces for Class-B shopping centers had rental
17 rates ranging from US $13.00 up to US $30.00 per sq. m. on a monthly basis while those in C-Class shopping
centers were between US $8.69 and US $17.39. (Refer to diagram “Monthly Leasing Prices (USD / sq. m.)
and Availability Rate, 2004 – 2005. Includes Classes: A, B and C”).
Guadalajara
2005

Monthly Net Rental Rates (USD / sq. m.) and Availability Rate, 2004.
Includes Classes: A, B and C.

Price Vacancy
30 10.00%

9.00%
25
8.00%

7.00%
20
6.00%

15 5.00%

4.00%
10
3.00%

2.00%
5

COMMERCIAL
1.00%

0 0.00%
Class "A" Class "B" Class "C"

The shopping center with the highest rental rates is “Plaza Galerías Guadalajara” ranging from US $26.00 18
to US $43.00 per sq. m. on a monthly basis. (Refer to diagram “Comparative: List Leasing Prices Ranges on
a Monthly Basis (US / Sq. m.) by Shopping Center. Includes Classes: A, B and C, 2004”).
Guadalajara
2005

Comparative: Leasing Price List Ranges on a Monthly Basis (US / sq. m.) by Shopping Center. Includes
Classes: A, B and C, 2004.

45.00 43.00
40.00
35.00
35.00
30.00
30.00
26.00 26.00
25.00 26.00 22.00
20.00 22.00 22.00 19.00 17.00
22.00 16.00
15.00 17.00 16.00
13.00 13.00
10.00
9.00
5.00
Centro Magno

Revolución
Independencia
Plaza México
La Gran Plaza

Plaza del Sol


Plaza Pabellón

Plaza Patria
Plaza Galerías
Guadalajara

Plaza
Plaza
COMMERCIAL

19
Guadalajara
2005

CORREDORES COMERCIALES

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20

Centro Tlaquepaque
Cruz del Sur Tonalá
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Definiciones · Definitions
2005

Fashion Mall Net Absorption


Shopping Centres that have department stores as The variation in the number of square meters of
anchors. In Mexico, these types of department stores occupied office space during a specific time period.
are: Palacio de Hierro, Liverpool, Sears, Fabricas de This indicator shows the total square meters absorbed.
Francia and Dorians. If it is negative, it indicates an over-supply of available
space.
Inventory
Real estate properties (measured in square meters) Anchor Stores
within the main sub-markets, excluding those that are Chain stores or establishments where major retail
under construction or planned. activity occurs and that receives a considerable number
of consumers. As a result, anchor stores occupy larger
spaces in shopping centres. These types of stores may
Mall be self-service, department or specialty stores, cinemas
Indoor shopping centres, with central air conditioning, and entertainment centres.
for which the main characteristic is to have an enclosed
structure providing access to any of the retail shops
from within the mall. Corridors exist that connect the Warehouse
many shops and units that are located inside. Building designed and constructed for the activity
of storage and distribution of merchandise.

Market Category/Class
A business trade relationship between buyers and Raking Category granted to a building in regard to the
sellers that gather to interchange merchandise, such characteristics that distinguish them from other
as: buildings, retail units, shopping centres, warehouses, buildings. In the office market buildings are classified
industrial buildings, etc. from higher to lower quality as follows: A+, A, B and
C.
Industrial Buildings
Facility or building designed or constructed specifically Sub-Market
for industrial activities, such as: production, A city area delimited by one or various neighbourhoods,
transformation, manufacture, assembly, industrial as well as avenues, that include a sufficient amount of
processes, storage and distribution. office, retail and industrial space available for sale or
lease.
Shell
Building space without improvements that is furnished Real Estate Deman
to a tenant after its purchase or lease. Measurement in m2 that shows the total space, which
was sold or leased during a certain period of time. 21
Avalailability/Supply
Total space in square meters offered to the market Entertaiment Centers
for sale or lease during a specific period of time. Shopping centres intended for entertainment purposes.
The anchor stores might be cinemas, ice-skating rinks,
Outlet bingo and/or nightclubs.
In general, Shopping centres that have clothing stores
constantly offering clearance or excess inventory. In Available Spaces
some cases they have fast food areas. At present, "outlet The square meters available in buildings that are
malls" are being developed including anchor offered to the market for sale or lease.
stores that offer the clearance concept.
Definiciones · Definitions
2005

New Spaces Stand Alone Retail Space


The total square meters added to the Real Estate All property intended for retail use and that is located
market as new supply. outside a shopping centre.

Industrial Park Strip Center


Area geographically delimited and designed specifically Shopping centres that, unlike Malls, are "outdoors"
to house industrial buildings, consisting of adequate and generally offer diverse retail concepts in buildings
conditions for distribution, infrastructure, equipment developed in a straight line. Normally, they have design
and services, and permanent administration of its shapes such as "L" or "U". They are also identified
operation. as small shopping centres located on the edge of a
street and that do not have an anchor store.
Availability Rate
Percentage of available space in any market. This
indicator is obtained by dividing total available space Sub-Lease
by the total inventory, in square meters. Space offered for lease by the primary tenant to a
third party before the primary contract has expired.
Power Center
Shopping centres that contain a self-service store as Industrial Land
anchor store. In Mexico these types of stores are: The number of adjoining land parcels occupied by one
Auchan, Chedrahui, Comercial Mexicana, Costco, company provided for the utilization of a single industry.
Gigante, Price Club Superama, Wal-Mart and Soriana.

Over-Supply
The effect caused by the excessive addition of space
to a market.This phenomenon occurs when the amount
of available square meters surpasses the number of
buyers in the market.

Créditos · Credits
Para Comentarios Análisis de Mercado
For Coments Market Analysis
Javier Lomelín Anaya Adriana Aguirre
22 Director General Connie Moreno
Douglas McMurray
Eduardo Sarti
Ciudad de México Querétaro
aaguirre@colliers.com.mx slomelin@colliers.com.mx

Monterrey Tijuana
arodriguez@colliers.com.mx jaltamirano@colliers.com.mx
Diseño Gráfico
Guadalajara Puebla Graphic Design
esarti@colliers.com.mx jcaso@colliers.com.mx José Sánchez
hmartinez@colliers.com.mx
Colliers International Mexico
2005

Direcciones · Locations
Colliers International México Colliers International Guadalajara
Av. Paseo de La Reforma No. 265, PB Av. Vallarta 6503. Piso 1-A
Colonia. Cuauhtemoc Colonia Ciudad Granja
Mexico City, México Zapopan Jalisco, 45010, México
Tel: (52) 555 209-3636 Tel: (52) 333 560 0120 al 26
Fax: (52) 555 209-3600 Fax.(52) 333 560 0127
Contact: Javier Lomelín Contact: Douglas McMurray

Colliers International Monterrey Colliers International Puebla


Av. Lázaro Cárdenas 2400 Pte., C-21 Acatlán 74-B
Edificio Losoles Colonia La Paz
Garza García, N.L., 66266, México Puebla, Pue., 72160, México
Tel: (52) 818 363-5330 Tel: (52) 222 231-3999
Fax: (52) 818 363-0623 Fax: (52) 222 248-0562
Contact: Luis Manuel Galindo Contact: Javier Lomelin (Mexico City)

Colliers International Querétaro Colliers International Tijuana


Av. Constituyentes Pte., 206-412 Paseo de los Héroes 9188, Suite 303
Jardines de la Hacienda Zona del Río
Querétaro, Qro., 76180, México Tijuana, BC, 22320, México
Tel: (52) 442 216-3394 Tel: (52) 664 684-2434
Fax: (52) 442 215-1586 Fax: (52) 664 638-8488
Contact: Javier Lomelin (Mexico City) Contact: Javier Lomelin (Mexico City)

247 Oficinas en 53 Países · 247 Offices in 53 Countries


Francia Korea del Sur
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Chile Malasia
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China México
Argentina Hungría Suiza 23
Colombia Mozambique
Australia India Suecia
DinamarcaEmiratos Nueva Zelanda
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Arabes Unidos Norte de Irlanda
Azerbaijan Inglaterra Taiwan
Escocia Polonia
Bélgica Israel Turquía
Eslovaquia Portugal
Brasi Italia Ukrania
España República Checa
Bulgaria Japón Venezuela
Estados Unidos República de Irlanda
Canadá Kazakhstan Yugoslavia
Filipinas Rumania
2005

ALCANCE GLOBAL - PODER LOCAL


Global Reach - Local Power

Venta y Arrendamiento de Oficinas


Office Leasing & Sale
·
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·
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·
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·
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·
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·
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·
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