During the first months of the year, the corridors of Cuautitlán, Tultitlan, Tepotzotlán (CTT) and Toluca, in the State of Mexico, stand out not only for concentrating the largest number of transactions during the first quarter of the year, but for concentrating the new supply and the start of new projects.

The spaces occupied in these corridors represent 80% of the total gross absorption in the Mexico City market during the period January-March 2021. This was mainly driven by logistics, e-commerce, food and pharmaceutical companies.

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A total of 185 thousand square meters class A completed construction during the first quarter of the year in the CTT area and it is expected that in the coming months new speculative projects as well as "Built to suit", that is, made to measure, begin construction in the area.

The lack of land for the construction of large industrial buildings is beginning to be noticed, since the buildings that are built are smaller than those registered in previous years. Despite this, developers continue to bet on the dynamism that exists in the northwestern area of the metropolis, as well as in the Toluca corridor.

Of the 808 thousand square meters vacant in the market, the availability of the CTT and Toluca represents 72%, almost three-quarters of the total industrial availability of the Mexico City market, according to information from Solili at the end of 1Q. 2021.

It may interest you: Solili National Industrial Real Estate Report 1Q 2021.