The strong automotive vocation of San Luis Potosí was reflected in the results at the end of 2Q 2021 where various companies in this industry opted to expand production operations in this important market in the Bajío region.

The city's industrial inventory increased by 16,500 square meters as a result of three expansions that completed construction in the San Luis Potosí Industrial Zone submarket.

During the April-June 2021 period, the construction of 88.5 thousand square meters began in response to the increase in demand for Built-to-Suit buildings (BTS), to be added to the construction in progress and total 126 thousand square meters.

Of the total of 8 industrial buildings that are built, 5 correspond to the BTS modality and the rest are speculative, concentrating almost three-quarters of the total footage in the San Luis Potosí-Villa de Arriaga submarket.

Check here: JTEKT expands operations for 47 million dollars in San Luis Potosí

Gross demand during the second quarter of the year was just over 100 thousand square meters, which in the comparative analysis shows that it doubled compared to the previous quarter, mainly driven by Built-to-Suit projects.

Companies such as Mayco Automotive, Impro, among others; are part of the increase in manufacturing facilities in the automotive sector that strengthen the development of supply chains in this important city.

Despite the fact that demand has been increasing in this market, vacancy remains a constant with high volumes. From this, the net demand resulted in a negative number close to 10 thousand square meters.

The class A offer of existing industrial space is varied in sizes ranging from 2,500 to 20 thousand square meters, and diversified in its capacity to house companies in the logistics and manufacturing sector.

More information: Industrial Real Estate Report San Luis Potosí

The projections for the next semester point to an increase in net demand, once the Built-to-Suit projects have been completed, resuming the growth trend of the last few quarters in this important Mexican market.