2023: Record-breaking year for industrial space deliveries in México

According to SiiLA Market Analytics, the industrial sector in Mexico experienced a remarkable increase in 2023, setting a record with the delivery of 5.6 million square meters of new inventory in the country's industrial markets. This impressive growth surpassed the previous year's figure by one million square meters, consolidating an upward trend that has persisted over the last five years, with a total increase nearing 20 million square meters in this period.

The three markets where the highest growth was recorded were:

1. Monterrey, where more than one and a half million square meters were added.
2. Ciudad Juárez, where almost one million square meters of new space were introduced.
3. Tijuana, a market in which over 600 thousand square meters were added during 2023.

As observed, the epicenter of this industrial expansion is located in northern Mexico. Monterrey, one of these markets, accounted for a quarter of the new inventory in 2023, followed by Ciudad Juárez and Tijuana. Together, the markets in the northern part of the country concentrated two-thirds of the new warehouses. Although Mexico City had a more modest year than the previous one, it follows the trend of the northern markets. On the other hand, the markets in the Bajío region incorporated 20% of the total new inventory.

Upon closer examination, the most dynamic submarkets were Apodaca (in Monterrey) and Southeast (in Ciudad Juárez), each incorporating nearly half a million square meters, closely followed by the CTT (the peripheral submarket of Mexico City). A bit lower, but with over 300,000 square meters added during 2023, are the submarkets of Ciénega de Flores (in Monterrey), Ramos Arizpe (in Saltillo), and South (again in Ciudad Juárez). Among the top ten submarkets that added the squarest meters, eight are in the north, one in Mexico City, and one in Querétaro, highlighting the effect of the relocation of some companies in Mexico.