The last two and a half years have had a great impact on all production processes throughout the world and Mexico in particular has been a participant in an industrial dynamic that has yielded great benefits, not only due to changes in consumer habits but by changes in the production of goods and services.

Multiple manufacturing and marketing operations that previously took advantage of the low costs of producing in Asia could not compete with the attribute of proximity and guaranteed delivery of operations that could be carried out in Mexican territory and that under a legal framework such as and the T-MEC still is, it would bring great advantages to those who settled here.

Of interest: Monterrey, Saltillo, Querétaro and Reynosa are the markets where more projects start construction

The growing industrial real estate demand was a reality that increased by 13% between 3Q 2020 and 3Q 2021 and that still maintains an increase of 10% at the end of 3Q 2022, in annual terms.

The demand brought with it an interest for institutional, regional and local developers who moved pieces to achieve direct agreements to build under the format of custom projects, or else took the risk of building under the speculative format in order to capture the demand that found no refuge in the few inventories that the markets had.

At the end of the third quarter of the year, more than 1.2 million square meters of new industrial buildings strengthen the country's inventory. The main protagonists of these increases are Monterrey, México City and Querétaro, which contributed industrial surfaces in the quarter of 435, 351 and 136 thousand square meters.

In Monterrey, the new supply was concentrated mainly in the Apodaca and Salinas Victoria submarkets, while in Mexico City, almost 45% of the projects that were completed and are now part of the capital's inventory are located on Tepotzotlán.

Check here: Industrial development seeks to grow in alternative submarkets such as Toluca, Zumpango and Huehuetoca

Another constant throughout the quarter is that a large part of the projects that were completed increased the already occupied inventory and for this reason there was no decrease in vacancies. In turn, the proportion of speculative warehouses, motivated by the greater concentration of demand, results in many of them being traded before their settlement, which means that the issue of vacancy continues to be an indicator that affects the rise in rental prices.

However, if we study the growth of the inventory in annual terms, the largest number of square meters of industrial buildings were added in Guanajuato, Querétaro and Monterrey, exceeding more than one million square meters in each of these markets, in the last year.

These figures reinforce that industrial activity is moving throughout the national territory, although in the case of the shoal and the northern border it has been where the growth of inventories stands out even more.