The month of July 2022 is the start of the third quarter of the year and the Solili platform shows that 75% of the demand was concentrated in Mexico City, Monterrey, Saltillo and Ciudad Juárez.

Previously, at the end of the second quarter of the year, the picture of the main demanding markets partially coincided, although at that time Guanajuato registered an important level of demand that made it occupy third place in the national ranking.

When we go a little further and investigate the nature of the demand, we had seen in periods prior to 2021 an important participation of custom constructions that not only took the lead in number of operations, but also in areas.

Custom projects or BTS generally correspond to large operating surfaces, whether manufacturing or logistics, that require spaces fully adapted to their needs and therefore these tenants are willing to share part of the risk of the financial operation with contracts that are established while construction is hard.

Of interest: Automotive industry, manufacturing and logistics, the ones that most demand space in the country

We saw the construction of large formats begin under the BTS modality so far in 2022 with companies such as Manwak, Hengli, Toro, Kukahome and Sunon, all over 50 thousand square meters in Monterrey. Similar to this, in Mexico City the companies Mercado Libre, Grupo TMM and SC Johnson led the demand with spaces above 30 thousand square meters.

However, there is another type of construction that is based on future projections of income in a given real estate market, where the role of the developer assumes a greater risk in the face of a profit that will benefit him even more if the economy and market fit their projections.

In situations such as the current one, the availability of industrial buildings registers important reductions, as in the case of Tecate with 0.3%, Tijuana with 0.46%, 0.37% in Ciudad Juárez and 1.19% in Guadalajara, thus creating the conditions for developers to have before them scenarios where the rental prices to come are projected to rise.

Tijuana and Guadalajara are markets where speculative investment has advanced significantly in recent quarters. In Guadalajara developers of the stature of Parks, Prologis, Vesta, Alveo Kapital, Finsa, among others, put on the table various available spaces between one thousand and 35 thousand square meters.

Check here: Developers put accelerator into construction to meet high demand

Something similar happens in Tijuana, although the offer of available spaces is much more limited, we will find warehouses from one thousand to almost 40 thousand square meters where Prologis, Vesta and Atisa together with various corporate brokerages support tenants interested in this border market to locate the space that best suits your need.

In Ciudad Juárez, the developers Terrafina, IGS, Prologis, American Industries, Vesta, Roca Developers, Fibra Macquarie and Intermex are exponents of a speculative offer that ranges in size from 5.3 to 43.4 thousand square meters in a busy industrial market on the northern border of Mexico that closes June 2022 with a vacancy is 0.37% where the average rental price of $5.65 dollars per square meter per month has grown by 19% over the last year.

In general terms, industrial demand is leaning 60% towards speculative projects, mainly in those regions with low vacancies and where larger developers go in search of a business opportunity.

The economic conditions that shape the rest of 2022 with high inflation, where the Gross Domestic Product registers an increase of 2% during the first half of the year, will continue to create the conditions for the presence of speculative construction to continue advancing in an institutionalized real estate market such as the Mexican.