The Guadalajara industrial market ends 2023 with positive performance in terms of demand for industrial buildings, with an accumulated gross absorption of 342 thousand square meters, which reported an annual increase of 15%.

By the end of the last quarter of the year, the demand concluded at around 110 thousand square meters, concentrated in top-of-the-range buildings classified as class A. Among the companies that boosted demand during the period are logistics firms, companies packaging, and the chemical industry, mainly.

This constant interest has led to a significant decrease in the market vacancy rate, standing at 1.1% for the month of January 2024. Although a recovery was observed throughout last year, reaching an increase in the second quarter of 2023 standing at 2.5% due to the delivery of new projects, the persistent investment of companies has maintained downward pressure on this indicator.

Of interest: Solili Industrial Report January 2024: Industrial demand starts the year strong with 534 thousand m² leased

As a result of the dynamism of the market, institutional developers have seen the need to reactivate the construction of new projects. Only during the course of 2023, the Guadalajara market saw the detonation of 16 new industrial projects, which add up to a total of 348 thousand square meters that began construction during the year.

Among the projects that began in the course of 2023 we see buildings ranging from 6 thousand to 60 thousand square meters and these investments were mainly concentrated in the industrial corridor of El Salto, which in recent years has been the region with greater interest on the part of industrial developers due to the advantages it has in terms of road accessibility, its proximity to the airport and the abundance of land for industrial use.

In January 2024, the Guadalajara industrial market had important projects in the process of construction that total 230 thousand square meters. Among the developers with the greatest participation in current construction we see emblematic companies such as Parks, Roca Desarrollos, Finsa and American Industries, to name a few.

Check here: Guadalajara reported positive performance in the main indicators during 2023

The reactivation of industrial buildings has been driven entirely by speculative projects, this in response to a supply that continues to decrease and with the aim of supplying the constant demand that the market has reported in recent quarters.

During the first month of the year, a total of 15 industrial properties are in the process of construction, waiting to be delivered during 2024 and of which 85% are available for lease. Therefore, an increase in the supply of industrial space is expected over the course of the year once these buildings finish being built and are incorporated into the inventory.