As of the end of August 2026, Mexico’s industrial real estate market maintains a trend of moderate growth; demand remains strong, while industrial project development continues to adjust in response to rising availability.

Against this backdrop, demand for industrial properties in Mexico totaled 945,000 square meters between July and August 2026, representing a 7% increase compared to the same two-month period in 2025. Mexico City led national demand, accounting for 31% of the total volume, followed by Guadalajara and Monterrey with 16% each.

During the July–August 2026 period, the Northern region recorded 360,000 square meters of occupied space, a 9% year-over-year decrease. Meanwhile, the Bajío region totaled 134,000 square meters, marking a 43% drop. In contrast, the Central region recorded 298,000 square meters, showing 21% growth.

Industrial move outs in July–August 2026 totaled 280,000 square meters, a 5% decrease compared to the same period in 2025. Reynosa accounted for the largest volume of vacated space, representing 28% of the total, followed by Mexico City (16%), Tijuana (13%), and Monterrey (9%).

Nationwide industrial construction ended August with 3.7 million square meters under development, reflecting a 20% year-over-year contraction. Monterrey and Mexico City continue to lead construction activity, each accounting for 25%, while Guadalajara holds third place with 10% of the country's projects.

Between July and August 2026, construction starts in Mexico totaled 540,000 square meters, a 32% decrease compared to the same period in 2025. Monterrey accounted for the largest volume of new projects, representing 30% of the total, followed by Mexico City (27%) and Guadalajara (18%).

During August, 440,000 square meters were added to the national industrial inventory, a figure 13% lower than that recorded in August 2025. Guadalajara accounted for 36% of these completions, followed by Mexico City (22%) and Monterrey (15%). By the end of the month, the national industrial inventory reached 114.5 million square meters, marking a 5% annual increase.

The supply of industrial properties in the country reached 6.1 million square meters, equivalent to a vacancy rate of 5.3%—an increase of 1.2 percentage points compared to the rate recorded in August 2025. Northern markets continue to account for the highest vacancy levels. Tijuana maintains the highest rate nationwide at 10.0%, followed by Reynosa at 8.4%, while Monterrey and Ciudad Juárez each record 6.6%. In contrast, Aguascalientes and Puebla show the lowest levels, with rates of 1.2% and 1.9%, respectively.

In August 2026, the average national industrial rental price stood at $7.67 USD/m²/month, representing a 5% annual increase. Mexico City remains the market with the highest rental price in the country at $10.38 USD/m²/month, followed by Tijuana at $8.68 and Tecate at $8.06. At the other end of the spectrum, Guanajuato, San Luis Potosí, and Querétaro continue to offer the most competitive rental rates, at $5.44, $5.66, and $6.17 USD/m²/month, respectively.

Looking toward the final quarter of 2026, the Mexican industrial real estate market retains fundamentals that support growth, albeit within an environment of greater caution among developers. Expectations for the year-end are that demand will remain active in key industrial markets, fostering a better balance between availability and leasing activity. Against this backdrop, the sector maintains an outlook of stability and growth for the final months of 2026.