How is Guatemala City's office market, and what does it imply for industrial development?

According to JLL (via Revista INversión INmobiliaria, Jan 14, 2025), Guatemala City's office stock is 627,000 m², with 16,000 m² under construction,… vacancy of 13.5% (down from 20.8% in 2023) and Class A rent of US$9.5-15/m²/month. Reading for the industrial developer: local real-estate capital, with the office segment still digesting its post-2023 oversupply, has rotated into warehouses, consistent with 89% industrial occupancy and with Multinova 2 built on spec. There is no public report with vacancy by tower.