The Monterrey industrial market, characterized by its high dynamism in demand and large construction volumes, continues to show activity so far in the fourth quarter of the year, with developers continuing to start new projects in the city.

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Given the strong industrial demand, various developers have continued to invest in the construction of speculative projects, starting approximately 135 thousand square meters of these projects between October and November 2024.

Institutional developers such as Vesta, with 67 thousand square meters under construction, and Interpuerto with 19 thousand square meters, have commented on the construction of speculative projects in November 2024, both projects being class A.

Industrial demand in the Monterrey market is not concentrated in a single submarket, but is diverse. The offer seeks to meet this demand, so the developments started so far in the fourth quarter are distributed in different submarkets, such as Guadalupe, Apodaca, Salinas Victoria and Ciénega de Flores.

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At the end of November 2024, industrial vacancy in Monterrey stands at 2.6%, equivalent to almost 490 thousand square meters. This figure is expected to increase in the coming quarters, as speculative projects are completed and become available for leasing and immediate occupancy.