ICM Completes Hamburgo Renovation in Mexico City

(July 29, 2019) Mexico City, Mexico – ICM Asset Management is pleased to announce that the redevelopment of the 10,200 SF co-working office building Hamburgo 26 in Mexico City, MX is complete.

Hamburgo 26 is a full renovation of a registered early 1900’s historic mansion, with two additional floors being added for a total of 5 floors in all. The design was meticulously planned to preserve the buildings exterior and interior architectural heritage, while at the same time offering a modern working environment dedicated to co-working desks, boardrooms, central courtyard and a rooftop lounge. The property is located one block from the busiest and most important financial district junction in Mexico City, Paseo de la Reforma and Insurgentes – home to the Mexican Stock Exchange, thus attracting co-working clients who work in media, finance, accounting and marketing.

The renovation was completed on time and on budget, with space leasing up faster than any previous Publico location at rents higher than underwritten. ICM anticipates the asset will be stabilized within the next 6-9 months.

“We are very encouraged by the leasing thus far at Hamburgo,” said Scott Myers ICM’s Managing Director. “The leasing activity continues to outstrip our underwriting and validates our belief in this market, and our co-working partner’s ability to deliver a dynamic and inviting space.”

ICM’s partner, and operator of the co-working space is PÚBLICO a Mexican real estate company that generates and operates innovative concepts. PUBLICO's current business include shared work spaces, restaurants and hospitality projects. PÚBLICO studies how technology, social movements, demographics and shifts in collective thinking impact real estate. They believe that with responsible investigation, collaborating with the best creative minds and challenging the status quo they can develop spaces that promote collective and individual well-being while maximizing the creation of value.