The Mexican industrial market showed stable performance during April and May 2026. Demand saw slight increases, while vacancy rates remained low, and investment in industrial infrastructure continued to be cautious, indicating moderate growth for the sector.

During April and May 2026, industrial space occupancy nationwide totaled over 680,000 square meters, representing a 6% increase compared to the same period of the previous year.

The Monterrey industrial market led leasing transactions during the two-month period, accounting for 26% of the total. It was followed by the Mexico City and Guadalajara markets, with shares of 19% and 13%, respectively.

Meanwhile, accumulated industrial vacated space during April and May exceeded 240,000 square meters, 18% lower than the figure recorded in the same two-month period of 2015.

In the two-month period, the release of industrial space was led by the Tijuana market, which accounted for 35% of the move outs, making it the only market in the country where vacated space exceeded leasing levels. Guadalajara followed with 21%, and Mexico City with 15% of the total.

At the end of May, Industrial construction in Mexico was nearly 4 million square meters under development, 1.2 million square meters below the volume recorded in the same month of 2015. This decrease in construction activity has resulted from the increased supply of industrial properties on the market, which exceeds 5.8 million square meters.

Between April and May, industrial construction starts in the main markets totaled more than 490,000 square meters, showing a more moderate pace, registering a contraction of nearly 25% compared to the starts observed in the same two-month period of 2015.

The new supply registered during the April-May period totaled approximately 445,000 square meters, which were added to the national industrial inventory, reaching a total of 113.1 million square meters at the end of May.

The expansion of the industrial market during the period occurred primarily in Monterrey, which registered the largest addition of new supply with more than 210,000 square meters, followed by Guanajuato and Guadalajara, with around 45,000 square meters each.

In May 2026, the average national industrial rental price was $7.56 USD/m²/month, representing a 6.9% year-over-year increase compared to the same period in 2025. The markets with the highest rental prices were located in Mexico City, at $10.37 USD/m²/month, followed by Tijuana, at $8.67 USD/m²/month.

In terms of year-over-year change, the largest increases were observed in Mexico City, with an 8.9% rise in rental prices, followed by Saltillo at 8.5% and Guanajuato at 7.0%.

The performance of Mexico's industrial sector during April and May 2026 reflects a landscape of adjustments, with construction activity slowing down, even though demand remains stable. The market's evolution confirms greater equilibrium, with more controlled and strategic growth, aligned with the current market environment.