Seeking to satisfy companies that want to settle their production processes in Mexican territory due to the nearshoring effect, the real estate sector works at a forced march in the development of industrial buildings.

The construction of this kind of space exceeded 5.6 million square meters nationwide during the second quarter of 2023, this is 10% more than in the same period of 2022, according to figures from the Solili real estate platform.

"One of the main challenges is that the supply of spaces in the main industrial markets is very low today, so although nearshoring has had a positive impact on leases, the low availability makes it difficult to meet the need especially in the north and center of the country," Pablo López, director of Analysis and Information at Solili, told Econohábitat.

Of interest: Guanajuato in expansion, start of industrial construction reaches 93 thousand m2

Although there was progress in the construction of new projects, vacancy levels continue to decline in some markets.

In this regard, the specialist explained that the constant challenge faced by investors and developers is the lack of land with the necessary equipment for the installation of companies.

"In most of the markets in which historically low vacancy levels have been reached, there are difficulties associated with the scarcity of land for industrial infrastructure, the supply and maintenance of services such as electricity and water," López commented.

In this sense, the decrease of one and a half percentage points in Monterrey, Ciudad de México and Saltillo stands out, which, at the end of June 2023, registered figures of 1%, 2% and 1.5%, respectively, in terms of availability.

However, Tijuana, Ciudad Juárez and Guadalajara managed to slightly increase their vacancies, as a result of a greater participation of speculative demand.

The north of the country reported the highest volume of activity in the construction of industrial buildings, where Monterrey remains at the forefront of the sector with 1.7 million square meters under construction.

Later Tijuana follows with 653,000 square meters under construction; Mexico City, Saltillo and Juárez also rebound, each of them exceeding 500,000 square meters of buildings.

Check here: Main submarkets in the north of the country that attract industrial demand

For their part, the Bajío markets a total 900,000 square meters of buildings under development. In this region, Guanajuato registered the highest volume with the advance of 367,000 square meters.

"The markets of Guanajuato, Querétaro y San Luis Potosí have been very active during the second quarter of the year with international tours to attract investment, which could be reflected with increases in demand in the remainder of 2023," Solili said.

Despite the challenges, the reality is that Mexico maintains its appeal for nearshoring, where the states that benefit the most are those that are close to the border with the United States.

In Solili you can consult industrial warehouses available in Reynosa and Puebla

Original note