In the midst of the advance of gross industrial demand that accumulates more than 1.68 million square meters nationwide, at the end of the second quarter of the year, a good part of the industrial markets continue to adjust their vacancies downwards.

The average vacancy during the 2Q 2023 registers 1.7% compared to the 2.6% reported at the end of the same period of 2022. This reduction of almost one percentage point reflects a market that is unable to supply the demand that is generated in a timely manner. Mexican territory.

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However, this average reflects diverse situations where some markets have significantly activated the constructions that manage to be incorporated into the offer and have been able to reverse the annual decline, as is the case of some northern markets such as Tijuana, Ciudad Juárez, Mexicali and Tecate, to which Guadalajara and Aguascalientes join.

The largest increase in absolute terms is registered by Mexicali, which manages to increase 61 thousand square meters per year in one year, reaching 113 thousand square meters of vacant spaces.

Meanwhile, Guadalajara and Ciudad Juárez coincide, each incorporating an additional 45,000 square meters. These three markets have in common the constructive impulse that was activated to serve the new tenants that explored their territories.

In several circumstances, these new buildings were subject to prior closing or pre-leasing before completing the work, so this phenomenon did not support the decrease in vacancy, but it was favored by many speculative projects that entered each market vacant.

The markets that do register a significant downward adjustment in their vacancies are Guanajuato, San Luis Potosí and Chihuahua, which decreased by more than 2.6% in annual terms, with figures at the end of 2Q 2023. In these markets there is strong pressure from the demand that the existing supply and in process fails to supply.

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The main industrial markets in the country, such as Mexico City and Monterrey , are decisive in the decrease in the national average vacancy and closed the second quarter of the year reporting 285 and 187 thousand square meters of vacancy, which represent 1.5% in percentage terms.

Reversing the continued decline in vacancy requires institutional developers to intervene with a greater speculative commitment to balance the average rental price, which translates into greater long-term stability for developers and tenants.