Industrial Boom in Bajío Region Fueled by Nearshoring Effect

The Bajío region witnesses a significant real estate phenomenon driven by the nearshoring trend, attracting foreign companies to relocate to Mexico. Comprising Aguascalientes, Guanajuato, Querétaro, and San Luis Potosí, this region represents nearly 30% of the country's constructed square meters, surpassing 23 million m2.

Over the past two years, the industrial heartland of Bajío has predominantly housed manufacturing companies, notably in the "vehicles and parts" sectors. This industrial fabric has greatly benefited from the relocation of American and Asian businesses, resulting in a consistent uptick in key real estate metrics.

According to data from SiiLA Market Analytics, Bajío has experienced remarkable growth in its inventory. In the last year alone, over a million square meters were added to the market, continuing an upward trend from the preceding year's 800,000 m2. This indicator reflects the sustained confidence of companies in the region and their ability to meet market demands.

A significant aspect in analyzing the real estate health of the region is the availability rate, which has significantly decreased. Considering available square meters compared to the total inventory, the availability rate has reached 3.5%, dropping by half a percentage point in the last year and 1.5% in the past two years.

In practical terms, this translates to a reduction in available space from over a million m2 two years ago to just over 800,000 in the last quarter. This phenomenon underscores the robust demand for industrial space in Bajío, driven by the allure of companies seeking to capitalize on the benefits of nearshoring, such as competitive costs and a strategic location.

The region is solidifying its status as an industrial development hub in Mexico, providing investment opportunities and a conducive environment for business expansion.

The consistent growth in occupied square meters and new inventory, coupled with the reduction in the availability rate, emphasizes its position as a prime destination for industrial investment in Mexico.

For further exploration on this topic, visit SiiLA REsource or reach out to us at contacto@siila.com.mx.