At the end of the first quarter of the year, Chihuahua activated the industrial demand that led it to reach almost 58 thousand square meters in the period. A 46,000-square-meter warehouse located on the Oriente submarket under the modality of a custom-made project becomes very relevant in the quarterly results.

For its part, vacancy ends in 1Q 2023 registering 1.5%, which implies a decrease of 3.2 percentage points in its annual comparison. On the South, North and West submarkets there are still industrial spaces available while on the Central and East submarkets there are no vacant warehouses. Of the ten available spaces, there are few options in size, since most of the warehouses are less than 3,000 square meters.

Check here: Industrial market exceeds 5 million m2 under construction nationwide in 1Q 2023

Three constructions in process totaling 73 thousand square meters, are already committed to tenants, two of them were built under the format of warehouses made to measure and the rest of the speculative modality is already pre-leased. For this reason, it is essential that speculative construction be activated in the remainder of 2023 in order to establish a healthy vacancy rate.

The low availability is concentrated in existing buildings where the vast majority is made up of ships whose size is less than 3 thousand square meters. Only two options of 9 and 20 thousand square meters would be the largest surfaces available in this northern market.

Regarding rental prices, the market has registered significant upward increases from its lowest range reported in July 2022 until the end of the third quarter, where an average of $4.8 dollars per monthly square meter. With everything and the increase, even the average rental price continues to be one of the most reasonable at the national level.

Of interest: Querétaro doubles gross industrial demand compared to 1Q 2022

Regarding the performance of the main macroeconomic indicators, the state of Chihuahua led exports during the fourth quarter of the year with a participation of 14.8% in the national total, registering 19.8 billion dollars, which implied a growth of 27% with respect to the previous period. The headings of manufacture of transport and electronic equipment appear as the ones with the greatest contribution to the registered total.

The authorities in the entity continue with the effort to strengthen the supply through coordinated and articulated work with clusters, chambers and business organizations, so there could be new investments in the remaining quarters of 2023.