At the end of Q3 2023, the four markets that Solili monitors in the Bajío manage to concentrate 18% of industrial constructions nationwide with a total of 960 thousand square meters.

Querétaro and Guanajuato remains in the lead with 410 and 376 thousand square meters of industrial warehouses under construction.

Of interest: Solili Industrial Report 3Q 2023, limited supply limits growth in industrial demand in Mexico

In Querétaro, construction is mainly located in the Mexico-Querétaro and Airport corridors, where nearly 80% of what is built is located. Since the beginning of the year, 263 thousand square meters of industrial works have begun, representing 64% of the total in this market. A little more than half of the area of the buildings corresponds to the modality of custom-made projects, although this amount represents a third of the number of projects.

In the case of Guanajuato, there is a growth in the number of speculative constructions that, if analyzed in terms of the number of warehouses, reach 60%, this affects the vacancy rate of 3.8% at the end of the third quarter of the year.

The areas of the speculative projects range from 4.4 to 25 thousand square meters, which opens a range of possibilities for tenants looking for between 10 to 20 thousand square meters. The Silao-León submarket largely dominates the constructions although the largest warehouse being built nationwide on the submarket is still under construction in San Miguel de Allende-San Jose Iturbide submarket.

In San Luis Potosí, 130 thousand square meters are still in progress, of which just over 80% are expected to be completed by the end of the year. This situation will lead to a greater decrease in vacancy, which stands at around 1.8% as of Q3 203. The current availability is focused on 5 spaces ranging from 1.5 to 23 thousand square meters, as detailed by the Solili platform.

Check here: Guadalajara Market projects an increase in the supply of industrial properties

Of the spaces available in Aguascalientes, only one of them corresponds to a project under construction and is located in the Aguascaliente Norte submarket with an area of 11 thousand square meters. The rest of the availability is located in existing projects with surfaces between 2 to 12 thousand square meters, which brings vacancy to 1.6%, the lowest level recorded in the Bajío markets.

Looking at the end of the last quarter of 2023, the industrial vacancy that has been recovering in both Querétaro and Guanajuato, where it reports 2.8% and 3.8%, plays in favor of its competitive potential compared to other markets and submarkets where vacancy is at its minimum levels and will not allow them to meet the demand.