The country's capital closes the third quarter of the year with an industrial demand that totals 274 thousand square meters driven mainly by the logistics sector.

The submarkets that make up the CTT (Cuautitlán Tultitlán and Tepotzotlán) manage to group together 90% of the spaces demanded during Q3 2023.

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Market expansion has continued to be constant, recording a 3.7% increase in industrial inventory over the last year. At the end of Q3 2023, Toluca continues to maintain the largest inventory in the capital with 24.3%, followed by the CTT submarkets (Cuautitlán Tultitlán and Tepotzotlán) with 21.8%, 16.5% and 14.2%, respectively.

It should be noted that the Tlalnepantla and Vallejo submarket also appear with 6.8% and 4% of the inventory and make up areas that we could associate with the last mile where some specific reform initiatives on obsolete facilities will be presented.

Regarding demand for the third quarter of the year, Cuautitlan leads with 139 thousand square meters, followed by Tultitlán with 101 thousand square meters.

Of the total number of warehouses demanded in the CTT during the quarter, about 4 transactions correspond to areas that exceed 30 thousand square meters, and the rest predominate spaces below 10 thousand square meters. 

Many of the spaces that make up the logistics chain are supported by smaller surface locations spread over the entire territory in order to optimize deliveries in a timely manner.

In the case of Toluca, very few industrial transactions were recorded this quarter, although in the first and second quarters of the year the demand registered 100 and 80 thousand square meters, respectively. Some negotiations could have been extended and we will see them reflected during the last quarter of the year.

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For their part, rental prices in the country's capital close the third quarter of 2023 with an average of $6.7 dollars per square meter monthly, which represents an annual increase of 8.5%. This increase has been more attenuated than that recorded in the main markets in the north of the country such as Tijuana and Monterrey, which report annual rent increases of 31% and 22%, respectively.

This advantage in rental prices creates conditions that favor the industrial market in the capital, which demands greater construction activity in the main submarkets to guarantee meeting demand at the beginning of 2024.