What's a typical lease term in Mexico City?

5 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.

How is rent quoted in Mexico City?

In MXN/sqft/year. We also publish a USD-normalised view ($30/sqft/yr) for cross-market comparison.

Net leases.

Typical lease length: 5 years.
Typical rent-free: 6 months.
Vacancy: 22.6%; trend flat.
Net leases.

Mexico City office lease norms

Net leases.

TL;DR

Typical lease length: 5 years.
Typical rent-free: 6 months.
Vacancy: 22.6%; trend flat.
Net leases.

Structure

Net leases. 5-7 year terms with renewal options. Free rent of 4-9 months and TI of MXN 1,200-2,200/sqm typical. Most trophy leases are USD-pegged for international tenants.

Negotiating levers

Free rent and TI remain the most negotiable line items; landlords prefer concessions to face-rent cuts because they preserve headline rent and implied valuation. Always model effective rent (face minus PV of concessions).

Key facts

city	Mexico City
country	Mexico
region	Americas
classARentLocal	580 MXN/sqft/yr
classARentUsd	$30/sqft/yr
vacancy	22.6%
typicalLeaseYears	5
typicalRentFreeMonths	6
submarkets	5
primeYieldPct	7.4%

Frequently asked questions

What's a typical lease term in Mexico City?: 5 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.
How is rent quoted in Mexico City?: In MXN/sqft/year. We also publish a USD-normalised view ($30/sqft/yr) for cross-market comparison.

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction