The dynamism expressed by industrial construction is the key to the momentum that allows meeting part of the demand for manufacturing and logistics operations that are based in Mexican territory. At the end of 3Q 2022, industrial construction exceeded 5.3 million square meters, which is equivalent to a growth of more than 60% in annual terms.

Four of the main markets where this construction frenzy stands out are Monterrey, Saltillo, Querétaro and Reynosa, which account for more than half of the national gross industrial demand.

Monterrey takes the first place separated by length from the second position occupied by Mexico City with a difference in construction that triples what is developed in the country's capital.

Check here: Industrial development seeks to grow in alternative corridors such as Toluca, Zumpango and Huehuetoca

With more than a million and a half square meters being built in Monterrey, there is a wide variety of sizes ranging from 9.7 to 28.8 thousand square meters, which are mainly concentrated in the Salinas Victoria and Apoca corridors, which account for 35% and 21%, respectively, of the total. 

The modality of custom-made projects or BTS prevails with more than 70%, although it allows for speculative constructions, they gain ground in a competitive and institutional market.

Saltillo is another entity on the northern border that shows great activity in construction, although 85% of the buildings in process are developed under the BTS format in various sizes ranging from 9 to 50 thousand square meters. The high presence of custom projects affects the availability of the existing 5.9% in the Ramos Arizpe and Arteaga corridors.

The shoal is also present in industrial construction at the national level where Querétaro reports about 520 thousand square meters, a figure that doubles what was built a year ago. The outstanding participation of data centers models the industrial demand for the BTS modality, which is shared half with the speculative modality, in a market where there is a dispersion of sectors that wish to either expand or settle in the entity. The surfaces under construction range from 1.2 to 36.2 thousand square meters giving options to a diverse speculative construction.

Check here: Monterrey's industrial demand continues to be driven by BTS of manufacturing companies

Finally, in Reynosa, 318 thousand square meters of new industrial buildings are built, 2.2 times more than those reported a year ago. Little more than three quarters of the demand are built with a variety of sizes between 8 and 54 thousand square meters in this active border market that seek to satisfy the growing demand, although it has not yet achieved it by exhibiting a vacancy of 1.5% at the end of September.

In global terms, there is still a high presence of custom-made projects within the constructions that are advancing in these four markets, so a greater rise in rental prices could be expected in the coming months.