Guadalajara is one of the industrial markets in Mexico that has maintained an important transformation in its industrial inventory, which has grown at a rate of more than 28% in the last five years.

At the end of the third quarter of the year there has been a development distributed along its main submarkets, where El Salto and Zapopan concentrate 38% and 29% of the inventory, respectively. Two other important submarkets towards the south-west of the entity, on the axis of the Guadalajara-Colima highway, such as López Mateos Sur and Periferico Sur, also make up an important part of the inventory of Guadalajara and, to a lesser extent, the Central Industrial Zone that houses the oldest industrial buildings in the area.

Check here: Industrial demand in Querétaro doubles compared to October 2022

And that is why the growth in demand in recent years has encouraged construction activity by developers who have been advancing with important deliveries of industrial areas.

Also noteworthy is the fact that of the total of 313 thousand square meters that were built at the end of the third quarter of the year, all correspond to the speculative format, very similar to what was being observed in the country's capital.

During the month of October 2023, they managed to complete construction of nearly 62 thousand square meters, which has allowed a gradual recovery of the vacant space in the market that closes with a rate of 2.2% by the end of the month.

Let us remember that Jalisco has had the impetus of the Jalisco Tech Hub Act public policy, which allows attracting investments that promote the development of its own technologies with local talent. For its part, the private initiative has demonstrated confidence and certainty in the execution of the projects, where developers of the stature of Finsa, Roca, American Industries, Vesta and Parks, among several others, compete to offer the tenant the project most adapted to their needs. 

Of interest: Starts of industrial construction soar 2.7 times compared to October 2022

Towards the immediate future, the scenario of increasing prices that registers an increase of 23% during the last year, has allowed the registration of an average rent of around $6.13 dollars per monthly square meter, similar to that registered in Monterrey. This average price would only be surpassed by Mexico City and several of the markets in the north of the country such as Tijuana, Tecate, Mexicali and Ciudad Juárez.

By the end of the year we could be anticipating a level of gross demand similar to that registered in 2022 and the possibility of continuing to increase industrial supply by developers who project that they could continue to face a greater increase in industrial rental prices.