Mexico City closes 2021 with a significant 35% increase in gross demand for industrial buildings, mainly driven by increases in the first and second quarters of the year, which reported increases of 70% and 59%, respectively. Industrial demand exceeded one million 290 thousand square meters at the end of the year.

The increase in demand towards the last semester of the year was slighter and it is there where the City of Monterrey manages to rebound to surpass Mexico City by 7.6% of annual accumulated demand.

The gross absorption of the 4Q 2021 with almost 380 thousand square meters registered the maximum quarterly amount of the year, mainly driven by companies in the logistics and food industries. The waves of covid that are hitting the world have achieved the reorganization of many of the essential activities to supply consumption.

Since the beginning of the pandemic, the “CTT” area (Cuautitlán, Tepotzotlán and Tultitlán) has strongly driven the demand and construction of this market, by Q4 2021 it represented 89% of the total gross demand of Mexico City for spaces A class.

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A total of 71,000 square meters were added to the inventory, highlighting buildings 6 and 7 of the Citypark Convent in Tepotzotlán, owned by the developer Hines, and which are fully available.

For its part, construction was not far behind and a total of 345,000 square meters were registered, which began in the fourth quarter of the year, more than double compared to the previous quarter.

The Tepotzotlán corridor stands out, in which 122 thousand square meters class A began, in addition to the new Tule Industrial Park in Tultitlán, as well as a custom-made project of 95 thousand square meters in Cuautitlán for an electronic commerce company.

The construction is concentrated by the CTT and the Toluca corridor, reflecting the strength and security on the part of the developers to continue investing in the industrial market of Mexico City.

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Last-mile demand has also triggered the reorganization of traditional industrial zones, causing a shortage of spaces in traditional corridors such as Vallejo and Naucalpan.

Although companies increasingly seek to locate closer to the consumer, they have faced several obstacles, due to space limitations and their characteristics in central corridors, causing the growth of the industry to take place mainly in the northern part of the city.

The horizon that marks 2022 begins with a market of growing inventories, vacancy rates with downward adjustments reaching 3.46% at the end of the year and rising prices that are close to 6 dollars per monthly square meter that represent an increase of 10.3%. compared to those at the end of 2020.

This environment predicts a year of extensive competition for institutional developers in the capital who will seek to gain the best positions to take e-commerce to the next level.