During the second quarter of the year, the Monterrey metropolitan area was placed as the market with the highest gross industrial demand, reaching 430 thousand square meters, according to an analysis by the Solili consultancy.

The foregoing represents little more than 25% of the total national demand, which was one million 700 thousand square meters, coming mostly from the development of manufacturing activity, in which the automotive, electronic, aerospace, and medical sectors stand out, among others. others, the report said.

It highlights that the growth in demand above supply has driven down the vacancy of industrial spaces, which, between April and June of this year, registered a national average of 2.6%.

Monterrey and Mexico City maintain a space availability of 2.5 and 2.7%, respectively, which together represent 36% of the national vacancy.

See also: Industrial construction in Monterrey closes 2Q 2022 at 1.4 million m²

The projection is that this trend will continue for the rest of the year because these and other markets have had to resort to pre-leasing, allowing the projects that are incorporated into the inventory to be already occupied.

Regarding rental prices, Solili indicated that they are being pushed up, mainly due to lower availability and the increase in the cost of construction.

He commented that this indicator in the metropolitan area of Monterrey, Mexicali and Tecate is well above its average prices in industrial buildings under construction and it is anticipated that this will continue in the following months.

Gutiérrez highlighted that the high levels of inflation have affected the segment, especially in the construction costs of new spaces, which has been reflected in the rental prices of industrial spaces.

Of interest: Greater increases in industrial rental prices are projected for the remainder of 2022

“The prices that we had two years ago in the industrial market no longer exist, they were prices that were maintained for 8 or 7 years, now they have undergone a significant adjustment of more than 15% and in some of up to 20%, because they are first line ships with very efficient characteristics”, he added.

Regarding construction, Solili indicated that the Nuevo León metropolitan area is the one that builds the most spaces in the country with more than 1.4 million square meters, which represents 28% of the national total.

The consultant's expectations are that industrial developers will continue to face the scarcity of land with infrastructure and rising construction costs "those with assets in operation, times of high inflation demand to be very attentive to the leverage, terms and rates of financial instruments that support the operation, since the appetite for well-located industrial assets will undoubtedly continue in the remainder of 2022.”

In Solili you can consult industrial warehouses available in Guadalajara and Querétaro

Original note