As of the end of Q1 2026, Monterrey's industrial market held the position of having the largest supply nationwide, with 1.3 million square meters of available space, equivalent to 23% of the country's total vacancy.

Of interest: Solili Industrial Report Q1 2026: Industrial Vacancy Continues to Rise, Reaching 6 Million m²

Vacancy has shown accelerated growth in the last year, resulting from the addition of more than 670,000 square meters to the industrial supply compared to Q1 2025. This growth reflects developers' continued focus on speculative projects and the development of new industrial parks.

However, in a context of slower global economic growth, industrial demand in northern Mexico has slowed, leading to an increase in vacancy and a slowdown in leasing. In this environment, new construction starts have slowed, as the market has sufficient available space to meet current demand. This has led developers to adopt a more cautious approach and prioritize filling existing spaces before undertaking new expansions.

See here: Industrial vacancy rate in Tijuana reaches 9.5% as of the end of February 2026

After the first quarter of the year, industrial construction in Monterrey exceeded 970,000 square meters. Although it remains the second largest construction market in the country, second only to Mexico City, this figure is half of what it was a year ago, reflecting the slowdown in new project development.