At the end of the last quarter of 2022, Saltillo registered 193,000 square meters of gross industrial demand, which, together with the accumulated figure during the first three quarters, achieves an annual total of 672,000 square meters, which allows it to be in third position nationwide. It is only surpassed by Monterrey and Mexico City, which closed the year with just over 1.8 and 1.5 million square meters, respectively.

The proximity that Saltillo has to Monterrey has favored that part of the unsatisfied demand in the main market at the national level turns towards this possibility looking for an industrial space for rent, coupled with the great automotive vacation that this market has.

Check here: Tijuana reports the most expensive industrial rental price in Mexico, exceeding $7.0 USD/m²/month

The outstanding offer of industrial spaces and the quality of the constructions that have been carried out in recent quarters, together with the presence of important developers, have made this market one of the most competitive for investors and one of the favorites for companies seeking to transfer their production processes that were previously carried out in Asia.

It must also be considered that Saltillo, although it registered an annual increase in gross demand of 44% in 2022, the net demand in 2022 failed to exceed that registered in 2021, which means that unemployment played a prominent role in the culminating year.

When we analyze the gross industrial demand in Saltillo, 70% of what was registered during the four quarters of 2022 corresponds to custom-made projects and expansions whose surfaces range from 1.2 to 80 thousand square meters.

To face the growing pace of demand, industrial developers activated and closed 2022 with more than 472,000 square meters of industrial works in progress, of which a third of the total began construction in the last quarter of the year. 

Projects of more than 30,000 square meters and that correspond to the type of custom-made warehouses make up 56% of the constructions that began in 2022, characterizing a large-area market.

Of interest: For the second consecutive year, Monterrey led industrial demand in Mexico

However, although vacancy still remains at 2.5% at the end of the year, this has been its lowest historical level in the last four years. The downward adjustment trend has been maintained for a good part of 2022 and allowed a decrease of 1.3 percentage points during the last year. This phenomenon affects rental prices that close the year with an average of $4.76 dollars per monthly square meter, a value that registers an annual increase of 20%.

If we check that less than a third of the projects that are advancing under construction are speculative and that this amount is lower than the average quarterly demand, it is to be expected that this market still has room to increase its rental prices and reduce its vacancy during the first two quarters of 2023.