Industrial Assets Are on Track for 2021

The main industries in those markets include transportation and logistics, representing 30% of occupied space in Mexico City, vehicles and parts with 18% in Monterrey, 30% in Querétaro, 60% in San Luis Potosí, and 70% in Ciudad Juárez. The electronics industry accounts for 25% of the occupation in Aguascalientes. Of the new deliveries, five developments stand out due to their magnitude: The first of these deliveries is a 71,000 sqm class A industrial park development by e-Group, located in the CTT submarket of Mexico City.

It is the fourth phase of twelve planned for Tepoz Park. The second is the Campus Tijuana RSMG, a class A industrial complex located in the Centenario submarket, which is still under construction and will deliver its first three stages: E1 with 56,000 sqm, E2 with 18,000 sqm, and E3 with 30,000 sqm. 

The third is Los Olivos Stand-Alone Industrial, a Class A industrial building developed by Prologis, located in the Cueros de Venado submarket in Tijuana. It has a gross leasable area of approximately 35,000 sqm, which can be occupied by multiple tenants. 

The next outstanding delivery is Vesta Guadalupe, located in the Guadalupe submarket in Monterrey, a Class A industrial park with an area of 27,000 sqm. Last but not least is La Laguna Industrial Park, developed by O'Donnell. 

It is a Class A multi-tenant industrial complex located in the CTT submarket of Mexico City, with a delivered area of approximately 31,000 sqm. 2021 sets a positive outlook for industrial assets, following the trends of 2020. 

In the 43 submarkets monitored by SiiLA México, industrial assets had an average occupancy rate of 96% at the end of 4Q20. Certain factors that will affect industrial growth in 2021 include the implementation of the USMCA, which boosts different industries, nearshoring opening the possibility of receiving investments from Asian companies, and the growth of e-commerce and logistics solutions, especially those oriented towards the "last mile." For more information on upcoming deliveries and industrial asset performance, visit siila.com.mx.