Monterrey maintains its progress as the industrial market with the highest demand activity in the country. The convergence of interest from investors and developers has allowed submarkets such as Apodaca, Ciénega de Flores, Santa Catarina y Salinas Victoria, which concentrate more than 90% of gross demand during the third quarter of the year, to continue to be positively evaluated. time to consider relocating production processes or expanding companies that already operate in Monterrey.

Likewise, the interest in the start of new constructions continues and during the month of October alone, 77 thousand square meters of new industrial buildings began construction in this market in northern Mexico. If we review the construction progress of the works that are built at the end of Q3 2023, there is still a significant participation of speculative constructions that group together 45% of the projects, leaving the remaining 55% to custom-made warehouses.

Check here: What is happening with industrial vacancy rates nationwide?

The areas under construction range from 2,000 to 92,000 square meters, the latter project being located on the Salinas Victoria submarket in Hofusan Park, one of the most attractive locations for companies of Asian origin. The areas with the highest concentration of projects are in the scale of 10 to 50 thousand square meters, which groups three quarters of the works that are advancing in this market.

If we look at the rental prices of industrial warehouses in Monterrey, the weighted average is $6.12 dollars per square meter per month, which has registered an increase of 26% so far in the last year. This increase is quite similar to what was registered in the last twelve months in Reynosa, Guadalajara and Aguascalientes.

Above the weighted average of Monterrey we find rental prices in the Pesquería, Apodaca and Guadalupe submarkets with $7.5, $6.4 and $6.27 dollars per monthly square meter, respectively.

In the case of Santa Catarina, which is the epicenter where Tesla's location is planned, the average rental price closes at $5.92 per square meter per month, which has been showing a significant upward adjustment since November 2022 that allows it to register a 26 % above in the last 12 months.

Regarding industrial vacancy, the market average stood at 1.1% at the end of October 2023, while the most representative submarkets such as Apodaca and Santa Catarina closed the month with 0.6% and 2%, respectively.

Of interest: Tijuana occupies first place in industrial demand nationwide in October 2023

These metrics continue to be at levels that require greater activation of the offer based on the investments that have been ratified in recent months after the tour of the entity's authorities through the Asian continent.

Monterrey will continue to set the standard in the development projected in the entity, mainly associated with metal-mechanical, automotive, plastics, electronic components manufacturing industries and all the processes that complement the network of suppliers that will be developed around electromobility.