Manufacturing associated with the automotive industry is the main driver of the industrial real estate market in Guanajuato. Various companies in this sector have chosen this city to establish their operations and promote growth in this important industry.

At the end of 2Q 2021, high levels of transactions were registered, reaching a gross demand of 154 thousand square meters, mainly driven by expansions of companies already established in the state.

The submarkets that stood out for having significant sales and leasing activity were San Miguel de Allende-San José Iturbide and Silao-León, where companies such as Nedec, Fraenkische, Multitech Industries, among others, increased their industrial manufacturing spaces.

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Although the pandemic negatively impacted the growth process of this market, which registered two consecutive quarters with negative net demand, the trend throughout 2021 points to a recovery path, although the levels previously reported have not yet been reached. the pandemic. As of 2Q 2021, the net demand of Guanajuato reported just over 50 thousand square meters.

At the end of 2Q 2020, vacancies and prices remained at similar levels to the previous quarter.

For its part, construction activity reported a quarterly increase of more than 80 thousand square meters, characterized by low activity in the construction of speculative spaces. Expansions dominated the increase in construction and were mostly concentrated on the Silao-León corridor.

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At the end of the quarter, the settlement of 36 thousand square meters increased the inventory of the city, where 78% was concentrated on tailor-made projects on the Silao-León corridor.

Guanajuato continues to be one of the industrial markets with the highest vacancy rate in the country, with just over 450 thousand square meters vacant, where there is a wide range of Class A spaces ranging from one thousand to 20 thousand square meters.

During this quarter the industrial market of Guanajuato showed signs of recovery and is expected to continue for the rest of the year with the commitment of developers and companies wanting to invest, given the state incentives.

The development of the automotive cluster and Mexico's trade agreements with its main trading partners will allow this Bajío state to continue growing until reaching levels prior to the pandemic.