Industrial Warehouses for Rent in Mexico. Revealing the Top Players of the First Half of 2023

Corporate movement within the industrial sector is on the rise in Mexico’s commercial real estate market. SiiLA remains vigilant in monitoring the ebb and flow of tenants in Mexico's prime industrial hubs, with a particular focus on properties of exceptional quality (Class A). Backed by consolidated data from the first half of 2023, REsource's editorial team has painstakingly compiled a ranking that unveils the companies that have clinched lease contracts in the largest industrial spaces across the nation's primary real estate markets.

Carefully tracking lease transactions is pivotal for dissecting the real estate sector. It illuminates market trends and lays a sturdy foundation of information for property valuation. Moreover, it plays a crucial role in negotiating contracts and financial strategizing for investors and developers.

According to insights from SiiLA Market Analytics, the transactions in the first half of 2023 were concentrated in high-quality spaces. An impressive 86% of the leases occurred within Class A spaces, predominantly in Central and Northern Mexico. Notably, the capital city took the lead with 45%, followed by Monterrey (22%) and Tijuana (17%). Among the standout tenants are renowned names such as Barcel, Carrier, DSV Global, L'Oréal, and TECMA Group. However, the three most substantial transactions (by square meters) are as follows:

1.- L'Oréal – CPA Logistics San Martín Obispo - CPASANMO B004

Claiming the top spot is the French powerhouse L'Oréal, one of the world's foremost cosmetic brands. Earlier this year, the company secured a lease for over 63,000 square meters in the CPA Logistics Center San Martin Obispo industrial park, situated within the CTT (Cuautitlan, Tultitlan, and Tepotzotlan) logistics corridor in Mexico City. With a ten-year contract, L'Oréal is set to occupy this space alongside another Class A industrial facility spanning over 40,500 square meters in San Luis Potosi's Logistik II Industrial Park.

2.- Carrier – FINSA Santa Catarina - 14

Carrier, a global leader in heating, air conditioning, and refrigeration solutions, inked a decade-long agreement at the FINSA Santa Catarina industrial park in Monterrey, Northern Mexico. Carrier occupies a space exceeding 48,000 square meters within this Class A property. Nationally, the U.S. company boasts a total industrial footprint of approximately 169,000 square meters spread across Monterrey and Mexico City markets.

3.- Cummins – Vesta Park San Luis Potosí - VPSLP-03

This year, U.S.-based energy technology leader Cummins entered a five-year contract at the Vesta Park San Luis Potosi. The company holds a Class A property encompassing nearly 22,000 square meters. With this transaction, Cummins, focusing on the automotive sector, counts around 101,000 square meters to its presence in the country, primarily in Ciudad Juarez, Monterrey, and San Luis Potosi.

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