The inventory of industrial spaces at the national level ended March with just over 80 million square meters (m2), which meant an annual rate growth of almost 5%.

During the first quarter of the year, the construction of 43 industrial properties was completed, adding 644 thousand m2 to the inventory. Monterrey, Ciudad Juárez, Tijuana, Guadalajara and Mexico City concentrate almost 90% of the new offer.

According to a report by the Solili consultancy, "logistics demand has continued to grow at the same time that businesses, production and storage are integrated to achieve a multi-channel experience that shortens response time and customer satisfaction with deliveries. and returns. This has caused the demand for storage spaces to be demanded at a faster rate than what happened in pre-pandemic periods.”

The industrial real estate market maintained a good performance during the first quarter of 2022, accumulating a demand of more than 1.8 million m2 nationwide. This performance meant a growth of 42% when compared to the same period of the previous year.

Check here: Construction takes off in Tijuana due to almost zero industrial vacancy rates

For the second consecutive quarter, the Monterrey market stood out as the one with the highest demand for industrial space in the country, almost tripling the gross demand registered in the first quarter of 2021.

According to Solili's monthly report, corresponding to the month of March, this was mostly driven by custom-made or build to suit (BTS) projects, and where manufacturing and logistics are responsible for triggering this indicator, being Apodaca and Escobedo the corridors that mainly concentrate the interest of the tenants.

The report indicates that industrial demand is growing throughout the country, but there are some markets that stand out for their rental level, including Tijuana, Reynosa, Ciudad Juárez, Guadalajara and Saltillo,, which show growth rates above the national average.

The Bajio also reports good performance, particularly Guanajuato and Querétaro, which are in the process of recovery; however, it stands out that demand for custom-made projects predominates in these, while leasing in speculative-type properties is still below the rate recorded in previous years.

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The accelerated dynamics of demand has been reflected in a decrease in the supply of spaces, which has adjusted the availability rate downwards; at the end of the first quarter of 2022 it stood at 2.8%, one of the lowest levels in history.

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, with levels close to 6%, although they continue to be markets with healthy levels.

As a result of the decrease in available inventory, the construction of new projects has been promoted, which are already at historical levels.

Solili reported that there is currently a total of 4.7 million square meters under construction, double what was reported a year ago. Between January and March, the construction of 82 industrial buildings began, which together add up to a total of 1.4 million square meters.

The Monterrey, Ciudad Juárez and Tijuana markets accelerated their construction pace to meet demand and maintain acceptable vacancy levels in these markets. Guanajuato and Querétaro stand out as a result of the start of construction of large-scale custom-made projects.

In Solili you can consult industrial warehouses available in Mexicali y Chihuahua

Original note