In its 1Q 2022 Industrial Report, the specialized research firm Solili found that the first quarter of 2022 was marked by important events that directly impacted economies globally, and Mexico was not exempt from these.

Between the first months of the year, the new variant of the coronavirus had a strong impact at the global level, as well as the political instability derived from the war between Russia and Ukraine, which has not yet cleared up the panorama of disturbing threats that Moscow represents. Inflation was another element that impacted all world markets.

During the first quarter of 2022, the good performance of the industrial real estate segment continued and closed in March with a demand that exceeds 1.8 million square meters nationwide, 42% above that reported in 1Q2021.

Among the markets that rebound in demand is Monterrey, which is once again positioned, for the second consecutive quarter, as the largest demander of industrial space in the country, almost tripling the gross demand registered in the first quarter of 2021, driven mostly by projects made to measure or build to suit (BTS) and placing well above what was registered in Mexico City for the same period.

Check here: Solistica opening new multi-client warehouse in Monterrey

In the case of Monterrey, manufacturing and logistics detonate this indicator, with Apodaca and Escobedo being the submarkets with the greatest interest from tenants.

Although it is true that industrial demand is growing throughout the country, some markets stand out which report higher leasing activity, as is the case of Tijuana, Reynosa, Ciudad Juárez, Guadalajara and Saltillo,, which have growth rates above the national average.

The Bajío area also stands out, especially the markets of Guanajuato and Querétaro, which continues to have growing demand and is in the process of recovering, however, it is important to note that these markets have been driven mainly by demands concentrated on custom-made projects, since that leasing in speculative-type properties is still below the rate recorded in previous years.

Of interest: Querétaro and its vocation for data centers

The high rental volumes recorded in recent quarters have contracted the supply of space, placing the national vacancy rate at 2.8% and thus reporting one of the lowest historical figures. Some markets such as Tijuana, Ciudad Juárez and Tecate report rates below 1%. In contrast, the markets that report the highest vacancy volumes are Guanajuato and San Luis Potosí, which are around 6%, still within the range considered healthy.

The growth of the logistics activity and the manufacturing reactivation have generated that the demand for industrial space remains at record levels, giving developers the possibility of expanding and diversifying their portfolios in the different industrial centers of the country.

The first quarter anticipates what we estimate will be the year 2022, in which we expect the sustained growth of inventory to continue, with increases that exceed two figures annually, with vacancy rates pressured downwards, rental prices with constant increases, volumes rising construction and growing demand levels.

In Solili you can consult industrial warehouses available in Tecate, Chihuahua and Mexicali

Original note