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Overview

What's Typical

Term

3-10 yrs for fit-out space, 5-10 yrs for shell space, 20 yrs maximum by law.

Breaks

Negotiable, usually with penalty

Renewals

Negotiable. Commonly one or two renewal options of 3-5 years each

Rent basis

NN, USD quoted or, less commonly, MX pesos

Free rent

1-6 months for fit-out

Escalation

Annual adjustment to US CPI for USD leases; General Price Index for MX Peso leases

Security

2 months + bond or international corporate guarantee

Fit-out

Tenant usually pays

Tenant`s broker

Landlord usually pays

Right to sublet

Negotiable, usually granted for subleases to subsidiaries or related companies

Transparency

High

Languague

Leases are in Spanish, sometimes double columned with English

Broker Licensing

Not required, but is undergoing a legislations process to requiere brokers licensing

Offices

Bajio +52 442 224 2731 & 442 296 8130

Guadalajara +52 33 3611 2083

Mexico City +52 55 5284 0000

Monterrey +52 81 8363 1822