The gross industrial demand of Guadalajara is activated during the month of June where it manages to accumulate 48 thousand square meters, a figure similar to that registered by Mexico City during this month. This indicator, which during the first half of the year closed with 141,000 square meters, had not reached the levels reported in the first half of 2022, which is due to the low supply of available industrial buildings.

Although the construction levels are located above 200 thousand square meters in works built entirely under the speculative format, many tenants do not find options and this reflects a vacancy that at the end of July stands at 1.7%.

Check here: Solili Industrial Report July 2023, in just this month more than 230,000 m² of industrial construction began

Currently, of the projects that are being built, there are a dozen options available with sizes ranging from 9.2 to 62,000 square meters, but since the vast majority plan their settlement by the end of 2023, it is likely that in the remaining semester several will be occupied by which could adjust the vacancy downward again.

Let us remember that during the first half of the year this industrial market had reversed the decline in its vacancy but has begun to report downward adjustments again since the middle of the year.

It also highlights the fact that the annual rental price increase is in the order of 25%, similar to the increases seen in other markets on the northern border such as Mexicali, Reynosa and Tijuana, to name a few. At the end of June 2023, the average rental price in Guadalajara is $5.9 dollars per monthly square meter.

The El Salto submarket continues to be where supply and demand are concentrated on average in about three quarters, maintaining an average rental price of $6.00 dollars per monthly square meter, exceeded by the average rent in the Periférico Sur and Zona Industrial submarkets. Center that report $6.45 and $6.50 dollars per monthly square meter, respectively.

Of interest: What factors determine the increase in industrial rental prices?

The quality of the new projects that are being built has created greater competition among the developers that operate there and will continue to set the standard in the next projects that are planned, comparable to markets with a high degree of development, institutions such as Mexico City and Monterrey.