The month of April 2024 ends with an outstanding performance in industrial demand at the national level. Leasing activity has reached 521 thousand square meters, marking an increase of 53% compared to the same month in 2023.

During the first four months of the year, positive behavior has been recorded in the country's gross demand, with an accumulated figure above 2 million square meters. This figure exceeds the accumulated demand during the same period of the previous year by more than 300 thousand square meters.

In the fourth month of the year, the Saltillo industrial market experienced a rebound, leading industrial demand nationwide with a figure of 102 thousand square meters, surpassing the Monterrey market, which came in second place with a demand of 81 thousand square meters. On the other hand, the Guadalajara market also showed outstanding performance, securing third position nationally with 67 thousand square meters occupied.

During April, the country's capital exhibited moderate behavior, registering an industrial demand of 43 thousand square meters. However, a recovery is anticipated throughout the quarter driven by operations that are in the process of negotiation and are expected to be executed in the next two months.

The northern region of the country continues to be a growth engine for industrial demand, reporting a total of 283 thousand square meters, which represents 54% of leasing activity nationwide. Saltillo, Monterrey and Ciudad Juárez stand out as leaders in demand in the north of the country, with figures of 102 thousand, 81 thousand and 63 thousand square meters, respectively. Ciudad Juárez has experienced a recovery after the slowdown caused by the lack of electricity supply in previous months. Although it faces significant challenges, the Ciudad Juárez market is already showing signs of improvement.

The Bajío region closes the month of April with a gross demand of 128 thousand square meters, representing a fifth of the lease of industrial properties nationwide. Querétaro is the market with the highest demand in the region, concentrating 44% of the demand.

Move outs nationwide have remained at stable levels, with a total of 116 thousand square meters of spaces released by companies. This figure represents 20% compared to the space occupied during the month of April.

Querétaro was the market that registered the highest move out activity, with 42 thousand square meters, followed by Mexico City, which reported a move out figure of 34 thousand square meters.

Construction activity nationwide reports a total of 5.3 million square meters, where Monterrey remains the industrial market with the greatest dynamism with 1.9 million square meters in progress.

During the month of April, a boost in construction start was recorded with 407 thousand square meters throughout the country, tripling the figure reported in April 2023. Monterrey and Saltillo emerged as the main drivers of new constructions, with the start of 145 thousand and 96 thousand square meters of projects, respectively.

The deliveries have demonstrated strong performance by adding 740 thousand square meters to the national inventory. It is important to highlight the contribution of the industrial markets of Monterrey, Querétaro and Guadalajara, which recorded the completion of works with 167 thousand, 140 thousand and 110 thousand square meters, respectively.

The figures corresponding to April 2024 are cause for optimism, since they reflect a solid performance in most of the indicators of the country's industrial sector. Highlighting the increase in leasing activity, a clear indicator of the vitality and dynamics of the national industry.

Mexico's industrial real estate market demonstrates encouraging performance thanks to new investments throughout the national territory. The start of new projects responds to current market needs and anticipates an expansion of productive capacities in various regions of the country.