As August 2025 ended, the industrial real estate sector in Mexico continued in an adjustment phase amid a more cautious global economic environment. As international trade conditions and domestic dynamics adjust, industrial demand shows signs of slowing. Changes in investment and expansion expectations within the sector have impacted both the development of new projects and the occupancy dynamics of industrial real estate.

In this context, leasing activity for industrial space nationwide reached a total of 455,000 square meters in August 2025. The Monterrey market led the demand, accounting for 36% of the total volume, followed by Mexico City, with a 19% share. The San Luis Potosí market rose to third place, accounting for 15% of the leases made during the month.

Between July and August 2025, demand for industrial space in Mexico totaled 887,000 square meters, representing a 34% decrease compared to the same two-month period in 2024. During this period, most of the country's industrial markets experienced a decrease in demand. However, Mexico City registered a positive performance with a 29% increase in industrial property occupancy.

During the July-August period, the markets of Mexico City and Monterrey stood out for their dynamism, both reaching demand figures exceeding 200,000 square meters. The main destinations for industrial investment during the two-month period were Mexico City, with 28%, Monterrey with 26%, and Ciudad Juárez with 9% of total demand.

National industrial move outs during the two-month period reached 291,000 square meters, a 34% decrease compared to July and August 2024.

The highest volumes of industrial move outs were concentrated in Tijuana, which accounted for 40% of the total, followed by Mexico City with 16% and Mexicali with 11%. Meanwhile, the remaining markets registered moderate levels of industrial space vacated.

Industrial construction nationwide at the end of August was 4.6 million square meters under development, a 19% decrease compared to the same month in 2024.

Between July and August 2025, construction starts in Mexico totaled 795,000 square meters, reflecting a slower pace of activity, with a 26% decrease compared to the same period in 2024. Mexico City accounted for the majority of new projects, with 38% of the total, followed by Monterrey and Querétaro, each with 12%. In contrast, the markets of Tecate, Ciudad Juárez, Reynosa, and Chihuahua reported no new construction starts during this period.

In August, nearly 500,000 square meters of construction were completed, adding to the national industrial inventory, which now stands at 109 million square meters, and has an industrial vacancy rate of 4.1%. The Monterrey market led the growth in inventory, accounting for 54% of deliveries, followed by Mexico City and Saltillo, which accounted for 16% and 11%, respectively, of new market supply.

The average rental price for industrial properties in the country was $7.28 per square meter per month at the end of August 2025. Although the supply of industrial properties has increased over the last year, rental prices remained on the rise, showing a year-over-year increase of 7%.

Despite the overall slowdown in activity in the sector, the Mexican industrial real estate market remains fundamental to the country's economic outlook. The sector remains solid, adapting to changes in global trade dynamics, and continues to attract investment in key regions. Although the market is showing greater restraint, the structural strength of the sector allows it to continue growing, with future prospects for stability.