The phenomenon of reconfiguration of global supply chains has proven to be an opportunity for economic growth in Mexico. Between 2022 and 2023, more than 300 companies arrived in Aztec lands for the first time and, according to the American multinational financial company Morgan Stanley, the country could attract $50 million in Foreign Direct Investment in the next five years.

However, the low availability of industrial warehouses is a challenge for new companies to establish themselves in the country. Jonathan Pomerantz, Commercial and Investment Director of the Meor real estate fund, indicated that today a vacancy of less than 2% is reported nationwide; while the north hovers at almost zero levels.

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In addition, he highlighted that 13 million square meters of space are needed to meet the current demand for nearshoring, which will double in the coming years.

In 2022, Mexico reached a historic construction of 2 million square meters of industrial surface and that could be exceeded by the end of 2023, although it will be insufficient to cover the needs of company relocation, says Pomerantz.

The lack of infrastructure and labor are the two challenges for industrial development in Mexico. Areas with high demand, such as Tijuana, Monterrey and Ciudad Juárez  have reported a shortage of land with supply of services.

The businessman added that the problem is not the generation of energy but the infrastructure for the transformation of high to medium or low energy, which is what is dealt with in all industrial parks; and there are no transmission lines to transport it to different places.

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High levels of demand, little supply of industrial spaces, added to the inflation of recent years, have led the production of Mexican industrial buildings to reach its highest levels in history.

In the most attractive markets for nearshoring in the north of the country, where Meor operates, such as Monterrey, Tijuana and Ciudad Juárez, the rental price has increased by 25 to 30% in the last couple of years. For its part, the Bajío region has had an approximate increase of 10%, according to Pomerantz.

In Solili you can consult industrial warehouses available in Mexico City and Querétaro

Original note