A region that stands out widely in the performance of the industrial real estate sector during 2022 is the Bajío whose participation manages to reach, with the sum of the four markets that make up this region, 21% of the national total. As a reference, during 2021, the Bajío concentrated 15% of the gross national demand and during 2020 it was where the pandemic had the greatest impact on the gross demand of a region whose main productive activity was the automotive industry.

The markets of Querétaro, Guanajuato, San Luis Potosí and Aguascalientes accumulated one million 500 thousand square meters of gross demand in 2022, a figure that exceeded by 22% that registered in the previous twelve months of 2021. When we explored the factors that could trigger this growth are several elements that were combined for this result.

Consult here: For the second consecutive year, Monterrey led the industrial demand in Mexico

In the first place, the national demand grew by 12% per year at the level of the Mexican territory and most of the northern markets were depleting the available spaces, for which we were able to observe markets such as Tijuana, Tecate y Ciudad Juárez ending the year with vacancies of 0.8 %, 0.6% and 0.5%, respectively.

When a potential tenant evaluated the options to rent an industrial building and took a reasonable time for their evaluation, they ran the risk of losing the opportunity since another tenant went ahead and closed on that property. 

The demand far exceeded the supply and the constructions that were advancing did not grow at the rate that the demand marked throughout the year. This situation played in favor of the Bajío, which took advantage of the existing availability.

Guanajuato and San Luis Potosí closed the fourth quarter of the year with 4.5% vacancy, the highest percentage nationwide, while Aguascalientes and Querétaro closed 4Q 2022 with 3.6% and 3.3% and complete the group of markets with the highest vacancy industry in Mexico.

Of interest: Guanajuato attracted 2 thousand 300 million in investments during 2022

Another determining factor is associated with the exposure that the authorities of this region kept outside of Mexican territory, being able to promote benefits and create security conditions that attracted foreign investment. 

The tours made to Europe and Asia ended up convincing multiple companies that already installed in the area are betting on expanding their production processes in the metal-mechanic, automotive and electronics sectors, to name a few.

At the same time, the government authorities, working together with the business clusters of the region, determined the value chain in order to develop suppliers in each process, which attracted new companies that generate greater production value and demand more qualified labor that would benefit the overall market.

The Bajío is becoming an alternative for companies looking for immediately available space and that some markets in the north cannot satisfy it, so in the coming months these conditions will make the demand in this region continue to grow and diversify the established industries in these markets.