Guadalajara at the end of the second quarter of the year stands out with a gross absorption of almost 85 thousand square meters of which 60% is concentrated in the El Salto submarket and the rest is distributed to similar parts between Periférico Sur and Zapopan Norte.

Of the total gross demand, a little more than a third was generated by the logistics sector, with the largest footage of just over 15 thousand square meters occupied by Home Depot.

The most demanded size was 5 thousand and 10 thousand square meters, although the largest number of transactions were observed in warehouses whose size is less than 5 thousand square meters.

In this quarter, the main national developers such as Parks and Prologis are reflected in the gross demand, accompanied by Finsa, Fibra MTY, Advance Real Estate, Roca Desarrolladora and Hines, among others.

This breadth of operators with proven expertise reinforces the institutionalization of a market that is deepening every day as a benchmark in this important western region of the country.

Query: Business expansions boosts industrial demand in Reynosa

The current absorption handles contracting scenarios for periods of 5 years on average, almost half of what we had observed in the period in which the largest number of Mexican fibers expanded their portfolios nationwide.

During the first half of the year, the total market lease totaled just over 140 thousand square meters, with these numbers of industrial demand, the city of Guadalajara is emerging to report historical figures for the year 2021.

Now, despite the uncertainty that the pandemic has generated in production lines worldwide and the realignment of production chains, many portfolios focus the evaluation of clients on the strength provided by the nature of their operations in a scenario where there is greater uncertainty, even under a reduction in the time horizon of the contracts.

The speed with which changes occur in the way of operating forces developers to create flexible products with the capacity for technological and energy expansion, with the possibility of migrating to more sustainable procedures that will probably be different in the immediate future from those that today we know.

Having time horizons of 5 years here would be an advantage to give opportunity to changes or adaptations that keep the designs of the ships that we know today valid.

Of interest: Guanajuato industrial market showed signs of recovery, in 2Q 2021

Net demand, on the other hand, continues in positive territory and most of the planned vacancies are located on the Periférico Sur and El Salto submarkets and correspond to sizes of less than 5,000 square meters.

The general panorama of Guadalajara exhibits an inventory similar to that of 1Q 2021, with 3.6 million square meters where no construction was completed during the period, however, about 75 thousand square meters did begin construction, concentrated entirely on the El Salto submarket.

The total construction in process of 177 thousand square meters reflects an increase of 61.7% compared to the first quarter of the year, although it indicates a similar amount to that observed in the same period last year.

The construction in progress is shared equally between the BTS and the speculative projects, although the latter exceed the number of ships being built.

The current vacancy of this market with 92.4 thousand square meters reflects a decrease of 90 basis points with respect to the first quarter of the year, which is equivalent to 2.5% on its inventory, being one of the lowest percentages nationwide only above Tijuana which maintains 1.4% of its vacant space.

This panorama suggests that in the remainder of 2021 and 2022 demand will continue and interest in this city will further spread, where its industrial, corporate and residential offer is advancing in parallel, positioning it as a technological benchmark next to Monterrey, at the level of Latin America.

If the demand rhythm that we have observed so far this year is maintained with a relatively conservative vacancy, the conditions are generated in this market to detonate more industrial projects in this market.