The industrial market of Saltillo, like other markets in the north of the country, have received significant levels of gross demand that have required the construction of new industrial buildings. In the first seven months of 2023, gross demand exceeds 265,000 square meters, which represents almost 8% of the national total.

However, given the vacancy level that registers a record low of 1.4% at the end of July 2023, developers see the need and opportunity to start the construction of new industrial buildings that allow them to meet demand for the remainder of the year. 

Consult here: Rental prices in Guadalajara continue to grow due to the decrease in industrial spaces

Currently, the areas of industrial buildings under construction exceed 523 thousand square meters, which places Saltillo in fourth position nationwide. Above Saltillo we find Monterrey, Ciudad de México and Tijuana. The predominant modality of constructions in Saltillo are custom-made projects or BTS that at the end of the second quarter of 2023 exceed 85% of the total industrial constructions.

At the end of July 2023, about 30 industrial buildings are being built, ranging in size from 3,000 to 80,000 square meters. This last option corresponds to a BTS project located on the Ramos Arizpe submarket. This corridor largely dominates construction activity in this market where 80% of industrial projects are concentrated.

If a tenant evaluates locating in Saltillo and consults the Solili real estate platform, they will find only 5 options available for industrial buildings whose surfaces range from 800 square meters to 18 thousand square meters.

The availability of the segment of works under construction is located at 7%, since we are facing a market dominated by BTS and the low proportion of speculative projects are committed before the completion of the works with pre-leases, which further reduces the vacancy of this market.

Of interest: Solili Industrial Report July 2023, in just this month more than 230,000 m² of industrial construction began

In turn, the average price of industrial rents has grown at an annual rate of 14%, which, although it is located in the lower-middle segment of the northern markets, has been advancing consistently, thus closing opportunities to guarantee the viability of the development of the industrial project.

If we consider that the price increase in other northern markets such as Monterrey, Tijuana, Mexicali and Reynosa register annual price increases of over 25%, we are facing an important element of competition in the case of Saltillo.