Industrial building constructions get off to a good start in 2023 and there are more than 5 million square meters of industrial buildings that are advancing in various degrees of construction at the end of the first quarter of the year.

In absolute terms, the industrial markets of Monterrey, Tijuana, Ciudad Juárez and Saltillo are the ones that register the greatest increases. These markets in the north of the country continue to be the preferred ones for the start of new works motivated by the strong demand that is driven by relocations in Mexican territory.

In Monterrey at the end of 1Q 2023, more than one million five hundred thousand square meters of industrial buildings make up the new warehouses under construction that range from 2.3 to almost 93 thousand square meters. About 60% of the number of constructions correspond to areas between 10 and 30 thousand square meters, which in turn would be the most demanded.

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

It also highlights the fact that speculative constructions total about a third of the projects that are built, while in 2022 the behavior of construction under the speculative format reached 58% in Monterrey.

In the case of Tijuana, a more marked speculative bet is presented with more than three quarters of the warehouses that are built under this modality. Here the vacancy reached 1.4% at the end of the first quarter of the year and the sizes of warehouses between 10 and 30 thousand square meters accumulate the preference of developers where 72% of the number of projects under construction and 88% of the surfaces in process correspond to this group of areas.

The Ciudad Juárez border market groups nearly 430,000 square meters of warehouses being built, which represents almost 50% more than what was built in the first quarter of 2022. These constructions seek to reverse the decline in vacancy that closed in March 2023 at 0.3%, the lowest percentage nationwide.

Of the total warehouses under construction in Ciudad Juárez, 60% is available for interested tenants, with warehouses ranging from 10 to 30 thousand square meters.

Consult here: Ramos Arizpe projects the greatest growth potential towards 2023

Another important market in the north, such as Saltillo, is also arousing the interest of developers, where almost 400,000 square meters of new industrial buildings are expected to fill the inventory in coming quarters.

This market has a presence of more than 87% of custom-made projects (BTS) and it is that the demand that comes together here has a significant participation of specialized automotive manufacturing that requires specific height configurations and internal distribution that tips the balance. towards the BTS.

Mexico City and Querétaro also appeared as the most dynamic markets in terms of industrial constructions, reporting 530 and 444 thousand square meters of warehouses. Developers and the main portfolios are interested in expanding their presence and coverage in the territory, which is why various acquisition operations and new works are coming in the coming quarters.