Mexico's industrial real estate market closed August 2026 with a clear sign of adjustment: developers are moderating their pace. Construction in progress totaled 3.7 million square meters, an annual contraction of 20%, reflecting a more cautious stance in an environment where availability has been on the rise.

Of interest: Reporte Industrial Solili Agosto 2026: Arrendamiento acumuló 945 mil m² en julio-agosto del 2026

The slower pace is even more evident in new projects. Between July and August, 540 thousand square meters of construction were started, 32% less than in the same two-month period of 2025. Monterrey accounted for 30% of the starts, followed by Mexico City with 27% and Guadalajara with 18%, confirming that the activity that remains is focused on the most established markets.

Meanwhile, inventory continued to grow. In August, 440 thousand square meters were added, while national inventory reached 114.5 million square meters, 5% more than a year ago.

Demand, for its part, remains strong. Between July and August, 945 thousand square meters were occupied, 7% more than in the same two-month period of 2025, with Mexico City leading with 31% of the volume, followed by Guadalajara and Monterrey with 16% each. Even so, this pace was not enough to absorb the newly completed space, and supply reached 6.1 million square meters.

Read more: Arrendamiento industrial de Chihuahua asciende a 70 mil m² entre enero y julio 2026

As a result, the vacancy rate stood at 5.3%, which is 1.2 percentage points above August 2025. Northern markets are the most pressured, with Tijuana at 10.0% and Reynosa at 8.4%, while Aguascalientes and Puebla maintain very low levels, at 1.2% and 1.9%, respectively. Even so, the average rent rose 5% annually, to $7.67 USD/m²/month.

Looking ahead to the last quarter of the year, the adjustment in construction could favor a better balance between supply and demand. If demand remains active in the main markets, the sector could close 2026 with greater stability, although developers will continue to weigh each new project carefully.