26 July, 2023 | #DatozByDatoz
As one travels along Masarik Avenue in Polanco neighborhood of Mexico City, exclusive and luxurious items from renowned stores such as Cartier, Louis Vuitton, Hermès, Gucci, Hugo Boss, Dolce&Gabbana, Frattina, Ermenegildo Zegna, among others, keep appearing.
Masarik Avenue houses the stores of the most luxurious brands with a presence in Mexico, making it the most exclusive avenue in the city. Furthermore, it is part of one of the most exclusive neighborhoods in both the city and the country.
This exclusivity is reflected in the lease prices of commercial properties, as Polanco already boasts the highest commercial lease prices in the city, but the prices on Masarik Avenue are still 21% higher.
According to a sample of commercial lease prices from Datoz’s Comparables de mercado tool, commercial spaces, including Lifestyle Centers, Commercial Complexes, Mixed-Use Buildings, and Individual Commercial Units in Polanco, had a weighted average price of $886 MXN/m2/month.
On the other hand, the sample of commercial lease prices, including Commercial Complexes, Mixed-Use Buildings, and Individual Commercial Units, on Masarik Avenue had a weighted average price of $1,074 MXN/m2/month. This is 21% higher than the prices in Polanco area.
Likewise, the average size of commercial spaces on Masarik Avenue is around 400 m2, so the total lease for a space of this size would be approximately $430,000 MXN per month.
As a result, the premise that Masarik is one of the most expensive and exclusive avenues in Polanco is fulfilled. It is, therefore, not surprising that the most prestigious stores are located on this avenue in Mexico City.