The demand for industrial spaces during July and August far exceeds that observed throughout 2Q21.

At the end of August, there was a gross demand of just over half a million square meters of industrial spaces nationwide, although it is expected that in September it will tend to moderate due to holidays.

Solili highlights that the performance of the industrial real estate market during the month of August maintained its growth rate where the main applicants increasingly demand modern, safe and sustainable real estate solutions, guidelines dictated by its parent company for the Mexican market, which has been favored because of the pandemic.

During the first two months of 3Q21, most of the industrial markets in the country, almost entirely, exceeded the gross demand of the previous quarter.

Of interest: Online commerce underpins industrial demand growth

Regarding unemployment at the national level, the report indicates that “the gap has been reduced by almost 20% if we compare August with the previous month, a trend that will continue towards the end of the quarter.

Unemployment was registered mainly in Mexico City and Monterrey, although in the latter market unemployment barely represents 10% of the gross demand for the month of August.

Regarding the new supply for the first two months of 3Q21, they observed a significant decrease compared to 2Q21, especially because the markets of Bajío, Ciudad Juárez, Reynosa, Puebla and Tecate did not register any movement in this indicator; however, the completion of some ships is anticipated by the end of the quarter.

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Solili reported that Monterrey, Tijuana and Mexicali delivered between July and August several industrial buildings that are added to their inventories and register 83.2, 28.8 and 21.3 thousand square meters, respectively.

During July and August of the current year, more than 730 thousand square meters of new Class A industrial buildings were reported nationwide. With the figure, they project that by the end of 2Q21 they could reach levels close to those registered in the previous quarter.

In his report, Solili highlighted that Tijuana and Mexicali are the markets with the highest construction activity with a bimonthly figure of 177.6 and 103.3 thousand square meters. 

They are followed by Saltillo and Querétaro, which registered 97.5 and 85.8 thousand square meters of new warehouses under development in their respective markets.

You can locate industrial warehouses available in Guadalajara and Guanajuato

Original note