According to Solili, a real estate data platform, throughout 2023 the development of more than 350 industrial projects began in different Mexican markets, pressured by the demand of companies that wish to move their production centers to the country, to take advantage of the proximity to the United States. Joined.

Thus, at the end of December, a total of 5.6 million square meters of industrial warehouses were reported to be under construction nationwide. It is estimated that Mexico receives only between 10% and 20% of foreign investment flows due to the relocation of companies.

Of interest: Solili Industrial Report Q4 2023: National demand in 2023 contracted 20% compared to 2022

Thus, amid an annual increase of 6.6% in industrial inventory, the vacancy rate at closing remains at levels similar to those reported in 2022, closing at 1.97% at the national level. Throughout the 12 months of this period, some markets, driven by an increase in speculative developments, managed to temporarily reverse declines in this indicator, although this trend continued for a few months.

The cities of Mexico, San Luis Potosí, Aguascalientes and Saltillo stood out by experiencing the greatest reductions in the number of vacant spaces, presenting percentage decreases of 0.7%, 2%, 0.6% and 1.3%, respectively.

On the other hand, Mexicali, Tecate and Guanajuato continue to be the markets with the highest vacancy rates nationwide, exceeding 4%. Two other significant markets in the north, Ciudad Juárez and Reynosa, have expanded their available spaces with percentages of 3.9%. and 2.5%, respectively. The slack achieved in the vacancy rate in some of these markets represents a considerable advantage that will allow them to satisfy the initial demands of 2024 more efficiently.

Check here: Construction is reactivated in CDMX due to low industrial vacancies

As anticipated in the quarterly reports issued by Solili, gross demand continued with a lower growth rate in the main national markets that accumulated 5.8 million square meters, a figure that represents a contraction of 21% with the total demand for 2022. 

At the end of the fourth quarter of 2023, Monterrey, Querétaro and Mexico City are positioned as the three leaders nationwide in gross demand, registering figures of 402 thousand, 200 thousand and 192 thousand square meters, respectively. They are followed by Saltillo with 180 thousand square meters, along with two other notable markets in Bajío, Guanajuato and San Luis Potosí, which exceed 123 thousand square meters each in this period.

In Solili you can consult industrial warehouses available in Ciudad Juarez and Reynosa

Original note