Mexico City occupies the second position with respect to national industrial demand, managing to exceed one and a half million square meters during 2022, which represents an annual increase of 22% compared to the accumulated figure in 2021.

The gross demand of the country's capital was characterized by the forceful presence of speculative ships that reached 96% of global demand. For its part, the offer that is currently under construction brings together a dozen developers with extensive experience in the sector and the proven ability to complete projects in execution on time and at cost.

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To this we must add the characteristic of seasonality of the demand in a market widely impacted by the logistics sector that has been undergoing important changes in sizes, types and locations in the search to adapt to the new demand models that electronic commerce has brought.

In 2022, 70% of the number of registered industrial warehouse transactions in Mexico City correspond to sizes less than 10,000 square meters. However, if the analysis is carried out on traded surfaces, 40% is grouped into warehouses that exceed 20,000 square meters.

In this case, we would be talking about warehouses ranging from 21 to 67 thousand square meters and that, unlike other markets in the country, these large stores occupied speculative projects that were advancing under construction.

This phenomenon was reflected both in the rental price and in the vacancy that closed the year with averages of $5.9 dollars per monthly square meter and 2%, respectively.

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If we take into account that vacancy was adjusted downward by 1.4 percentage points, we could anticipate that constructions in progress will remain above 550,000 square meters throughout 2023.

In turn, with the end of the festive dates of the last quarter of 2022, we could expect the termination of the temporary leases that were given in the period to be terminated, causing the scheduled vacancy of some spaces in Mexico City, which we will see reflected in the first quarter of 2023.

This situation has been replicated temporarily in recent years, with an effect that in the end has not had significant repercussions on the demand for the country's capital.