50% of industrial demand is driven by three markets in the north of the country
Solili | November 07, 2023 |

The competitive advantages of the northern Mexican markets continue to be evident so far in 2023. Between the months of January to October, the 8 northern markets monitored by the Solili platform accumulate 57% of national demand.

During the month of October alone, Monterrey, Tijuana y Saltillo almost reached 50% of the accumulated gross demand. These markets have demonstrated constant growth and have been able to attract not only the attention of tenants but also of developers who maintain a marked interest in continuing to build industrial buildings that in the case of Tijuana and Saltillo predominate under the custom-made format (BTS ), while in Monterrey they are half shared with speculative constructions.

Check here: Solili Industrial Report October 2023, Tijuana, MTY, Saltillo, CDMX and Querétaro lead demand

Monterrey continues to set the pace nationally as the largest demander of industrial warehouses and since the beginning of 2022 has maintained a significant increase in rental prices, closing in October 2023 with an average rent of $6.12 dollars per square meter per month. 

For its part, vacancy continues to maintain one of its lowest levels in recent years with 1.15% at the end of October even in the midst of a strong push for construction that currently exceeds one million 560 thousand square meters.

Tijuana, after Monterrey and Mexico City, continues to maintain the third position of accumulated gross demand between January and October at the national level, however in the month of October it led in first position with 88 thousand square meters. The Pacifico - Nordika and El Florido - Boulevard 2000 submarkets continue to attract the greatest interest from tenants, although in this market the greatest challenge continues to be associated with the development of land with an industrial vocation.

Saltillo is not far behind and in October it achieved 77 thousand accumulated square meters of gross demand and is also at the lowest vacancy level in the last five years, registering 1.2% at the end of October 2023. 

Inventory growth in nearby Saltillo 28% in the last 4 years has allowed the industrial supply to be modernized to supply levels that can compete with American markets behind the border with Mexico. This growth has been sustained by the automotive industry and its proximity to Monterrey through the axis created by the Ramos Arizpe submarket.

Of interest: Saltillo maintains the second position in industrial construction nationwide in October 2023

These three markets have in common not only the privileged geographical location but also the constant work in the development and provision of qualified labor, as outlined in the 2023 State Competitiveness Index report prepared by the Mexican Institute for Competitiveness. 

The indicators with the highest scores in these three markets become International Openness, Innovation, Economy, Labor Market and Law, which allows the development of industrial competitiveness with respect to other options in the national territory.

Stay up to date with the most important news to the real estate

Subscribe Solili Newsletter

  
Advertisinginfo