Faced with a scenario that could seem uncertain for the economy in Mexico, the industrial real estate market managed to maintain the same dynamism reported since 2021.

At the same time, it maintains record levels of demand, increases in inventory, falling vacancy rates, rising prices and high construction volumes.

In this sense, Solili reported that during the second quarter of 2022 (2T2022), the gross industrial demand reported 1 million 700,000 square meters (m2). Figure 6% higher than that reported in the same period of the previous year.

However, when comparing this figure in the first six months of the year, the increase is 21%; symbol of an unstoppable Mexican industrial market.

Meanwhile, net demand was positioned 41% above what was obtained in 2Q2021, exceeding 1 million 260,000 m2. This marks a significant decrease in unemployment at the national level.

Check here: Faced with an industrial vacancy that is running out, construction of 125 thousand m² begins in Monterrey in 2T 2022

Regarding the distribution of gross demand, Monterrey managed to position itself in first place with 430,000 m2. Next is Mexico City (CDMX) and Guanajuato with 287,000 m2 and 229,000 m2, respectively.

The northern part of the country positioned itself as the great driver of industrial demand, accumulating 56% of the national total and 40% of net demand. This is due to the large number of relocations of manufacturing production processes, which led to growth in the area.

At the same time, the Bajío and CDMX are part of the protagonists of the market, due to the participation of 23% and 16% of the national gross demand, respectively. However, within the shoal, the recovery of demand in speculative projects is still expected.

Within the market, the constant in almost all markets was the decrease in vacancy, which achieved a contraction of 2% in the last year.

In this environment, Guanajuato and San Luis Potosí have vacancy rates of 5.9% and 5.3%, respectively. Which are considered healthy and are positioned within the maximum in the country.

On the other hand, Tecate, Tijuana y Ciudad Juárez closed 2Q2022 with an availabilability of 0.3%, 0.7% and 0.8%, respectively.

Due to the low vacancy rates and the increase in the cost of construction materials derived from inflation; Industrial rental prices continue to rise.

In this framework, Tijuana, Ciudad Juárez and CDMX registered the highest annual increases in the country with 1.2, 0.9 and 0.7 dollars per monthly m2, respectively.

Of interest: Toluca gains relevance as an attractive submarket for industrial developers

However, currently, the most expensive markets are CDMX and Tijuana, while Ciudad Juárez, Reynosa, Guadalajara, Monterrey, Tecate and Mexicali register closing prices for industrial buildings well above the national average.

Given the situation of zero vacancy, construction progresses with almost 5.2 million m2 in industrial works throughout the territory. Quantity that equals the inventory that Guadalajara represents today.

Within the constant, Monterrey leads construction with 1.4 million m2, 28% of the national total. Behind this city, CDMX continues to structure industrial projects that represent just over half of what is built in the northern city.

Meanwhile, the Bajío closed 2Q2022 with 1.2 million m2, 82% more than what was built the previous year. Despite this, industrial developers will have to face the scarcity of land, along with dealing with the issue of inflation and its impact on construction costs.

In Solili you can consult industrial warehouses available in Saltillo y Ciudad Juárez

Original note