Due to its industrial vocation and proximity to the United States, Monterrey concentrated the highest demand for rental of industrial warehouses at the end of Q4 of 2023, with 402 thousand square meters (m2), according to the firm Solili

Querétaro and Mexico City continue with 200 thousand and 192 thousand m2 of industrial warehouse rental during the fourth quarter of the year. Then there is Saltillo with 180 thousand m2; and Guanajuato and San Luis Potosí, with 123 thousand m2, each. The manufacturing, logistics, electronics, automotive, metalworking, aluminum and furniture sectors were the main applicants for industrial surfaces in 2023.

Check here: Solili Industrial Report 4Q 2023, national demand in 2023 contracted 20% compared to 2022

Solili explained that the pressures to acquire industrial spaces to expand the operations of some companies or establish themselves for the first time in the country were concentrated in the North and in cities bordering the United States, which offer greater advantages in terms of proximity, connectivity and access. qualified labor, as well as a network of suppliers in the region's clusters.

The above provided a beneficial environment for the development of the industrial market, in the midst of a macroeconomic and political environment characterized by uncertainty. Therefore, investments in the industrial real estate sector played a fundamental role in serving as a refuge for capital in search of returns above the market average, Solili highlighted.

In total, industrial inventory increased 6.6% during 2023 and the vacancy rate remains at 2% at the national level, that is, practically everything is rented.

"Mexico City, San Luis Potosí, Aguascalientes and Saltillo stood out by experiencing the greatest reductions in the number of vacant spaces. While Mexicali, Tecate and Guanajuato are the markets with the highest vacancy rates nationwide, exceeding 4% "Solili explained.

Of interest: Saltillo industrial market maintains automotive vocation during 2023

Two other cities: Ciudad Juárez and Reynosa expanded their available spaces with percentages of 4% and 2.5%, respectively. The gross demand for industrial warehouses was 5.8 million m2 nationwide during 2023.

The construction of industrial spaces was boosted by new projects in Mexico City, Guadalajara, Saltillo and Monterrey, where an increase of 36%, 25%, 24% and 20%, respectively, was observed. Mexico City stands out as the most dynamic market, with the start of construction of 480 thousand m2 of industrial warehouses in the fourth quarter of 2023.

Meanwhile, rental prices were led by Tijuana with 8 dollars per m2 per month. In Mexico City and Monterrey, the average rent at the end of 2023 was 7.3 and 6.3 dollars per square meter per month, respectively.

In Solili you can consult industrial warehouses available in Reynosa and Ciudad Juárez

Original note