Industrial construction continues with strong dynamism and during the months of October and November 2023, more than one million square meters were started nationwide, of which about a third is concentrated in the entities of the Bajío.

So far in the last quarter of 2023, industrial constructions of 197, 126 and 22 thousand square meters have begun in Guanajuato, Querétaro y San Luis Potosí, respectively.

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If we consult the Solili platform at the end of November 2023, more than twenty projects are under construction that total almost 358 thousand square meters and of which 40% are available. The industrial warehouses that are built range from one thousand six hundred square meters to 23 thousand square meters.

Next is Querétaro, which currently has about 28 buildings with 502 thousand square meters in progress, of which 53% would be available for rent. Here, larger area sizes can be located than in Guanajuato up to the maximum area of 67 thousand square meters and the minimum of 400 square meters.

The Airport and Mexico-Querétaro corridors manage to group 87% of the constructions during the third quarter of the year.

In San Luis Potosí the warehouses under construction range from one thousand five hundred square meters to 20 thousand square meters but the availability in this case is much lower with only 20% of the 204 thousand square meters of buildings under construction. The San Luis Potosí-Villa Arriaga corridor dominates with 60% of construction in progress.

If we review the industrial vacancies in the Bajío markets as of November 2023, we find that Guanajuato registers 4.2% and Querétaro 3%, the highest percentages nationwide. While San Luis Potosí and Aguascalientes report 2% and 0.6%, respectively.

Check here: Developers capitalize on investment opportunities amid rising industrial rental prices

These indicators are advantageous in the case of Guanajuato and Querétaro, which have spaces to meet part of the unsatisfied demand of some entities in the north of the country, which do not have available supply.

Likewise, rental prices become among the most competitive nationwide, moving between $4.40 and $5.15 dollars per square meter monthly in the four Bajío markets that Solili monitors. That is to say, there is a significant margin for growth in rental prices for warehouses that compete in quality and construction with those built in the main markets on the northern border and in the country's capital.