Throughout 2023, Mexico City continues to maintain the second national position in terms of accumulated industrial demand, which already reaches 943 thousand square meters.

The main developers competing in this market continue to bet on the construction of new spaces that will make it possible to alleviate or mitigate the decrease in industrial vacancy, which by the end of November 2023 had already reached another historic low with 0.88%.

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Currently, 763 thousand square meters of buildings are being built in the capital that are advancing in various degrees of development, of which the vast majority correspond to the speculative format. Only between the months of October and November, 329 thousand square meters of new buildings began, already included in the current progress figure.

The particularity is that the vast majority of these buildings are about to be completed during this final quarter of the year or the beginning of the next, requiring a similar amount to stop the sharp decline in vacancy. The submarkets of Toluca, Naucalpan and Tlalnepantla manage to concentrate 56% of the existing industrial vacancies in the capital.

In Toluca, nearly 40 thousand square meters of warehouses remain available while another similar amount is advancing in construction, planned to end in the fourth quarter of 2024. The new warehouses range from 3.8 to 15 thousand square meters.

In Naucalpan and Tlalnepantla, 23 and 21 thousand square meters of new industrial warehouses are advancing, respectively. In the case of Naucalpan, no new warehouse is currently being built, while in Tlalnepantla an industrial project of 13 thousand square meters is advancing.

If a tenant is looking for a property for rent in Mexico City, the Solili platform provides information on 85 available industrial building options ranging from 200 to 90 thousand square meters, this last option being a Class A warehouse located in the Cuautitlan submarket.

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Of the total available spaces, fifteen warehouses exceed 20 thousand square meters, while another fifteen options range from 10 thousand to 20 thousand square meters.

This panorama foresees a scarce supply that demands greater activation by developers for the beginning of 2024 in the midst of a scenario that is already around an average rental price that reaches a historical maximum in the capital with $7.21 dollars per monthly square meter at the close of November 2023.