At the end of 2022, there are several indicators that can exemplify the important takeoff that was generated in the Mexican industrial market. The most prominent fundamentals would be gross and net demand and construction.

Although gross demand managed to increase by 12% compared to the accumulated figure of last year, the growth in net demand was more outstanding, exceeding by 24% what was accumulated in the twelve months of 2021.

The net demand indicator that incorporates vacancy is much more representative of market growth and measures the strong competition that was generated by companies and tenants that require space to operate. Many times, if an occupant required time to obtain approval from his parent company in making a decision to close a contract, another would go before him and manage to take over the property for rent.

Consult here: Solili Industrial Report 4Q 2022, historical numbers of industrial demand, grew 12% in 2022

In absolute terms, the largest increases in annual net demand were generated in Monterrey, Ciudad de México, Guanajuato, Querétaro and Guadalajara. Monterrey and Mexico City registered 1.3 and 1 million square meters per year, which represented increases of 42% and 49% with respect to the accumulated net demand of 2021, respectively.

The investor appetite that advanced throughout 2022 mobilized another outstanding indicator such as industrial construction, which at the end of the fourth quarter of the year closed with almost 5.3 million square meters. This amount reflects an increase of 42% compared to the previous year.

Industrial construction in the eight markets that Solili monitors in the north grew at an annual rate of 58% between 2022 and 2021, only surpassed by the increase registered by the shoal, whose construction grew by almost 80% compared to the previous year. .

The northern region of the country was the most exposed to nearshoring since the main advantage of relocating productions is proximity to the United States, and many companies based there moved factories and suppliers from Asia to new locations in markets such as Monterrey, Saltillo or Tijuana that will allow responding in time and cost to the growing demands of the American consumer.

Of interest: How to reverse the historical minimum levels of industrial vacancy by 2023?

The Bajío region, which maintained the highest relative growth in construction, was supported by the boost in demand for custom-made projects for large surfaces that allowed the takeoff of markets that in the years of the pandemic saw their performance very successful but that in the 2022 has been very attractive for both tenants and developers and builders, boosting investment and employment.

But the undisputed leader of the construction activity was Monterrey, which closed the year with more than 1.4 million square meters of industrial works that continue to advance in this market and that exceeds by 57% what is built at the end of 2021.