Mercado Libre, Poised to Take Mexico’s Industrial Crown

By the end of 2026, Mercado Libre could become Mexico’s largest industrial occupier. The company already occupies around 1.5 million square meters nationwide and, once approximately 100,000 additional square meters currently under development in the Mexico City metropolitan area are completed, it would surpass General Motors as the country’s largest user of industrial space. 

So far this year, the company renewed a lease for 3,100 square meters of Class B industrial space in Mexico City, signed a new lease for approximately 25,000 square meters of Class A space at Eleva Park in Michoacán, and opened its first distribution center in Tijuana, a 16,000-square-meter facility designed for last-mile deliveries across Baja California. Before that, in 2025, it absorbed nearly half a million square meters. As a result, Mercado Libre expanded its industrial footprint by roughly 26% over the past year. 

The real estate expansion accompanies a broader growth strategy. On June 15th, Mercado Libre announced a $4.6 billion investment in Mexico for 2026, representing a 35% increase from the previous year. The resources will be directed primarily toward strengthening its logistics and technology networks and include the creation of 8,500 additional jobs on top of the more than 42,000 the company already has nationwide.

The Argentine giant’s growth stands out even in a market accustomed to large industrial transactions. Between the first quarter of 2025 and the first quarter of 2026, the company absorbed nearly four times more space than the country’s second-fastest-growing party.

At the same time, its expansion was one of the main drivers behind the Consumer Products sector. During the period analyzed, companies classified within this category accounted for roughly 10% of national industrial absorption despite representing less than 5% of occupied inventory.

The company’s trajectory also illustrates the influence that a relatively small group of firms can exert on the evolution of the industrial market. According to SiiLA, around 100 companies—about 2% of the country’s industrial occupiers—accounted for more than 60% of absorption recorded between the first quarter of 2025 and the first quarter of 2026. This does not mean that industrial growth is concentrated exclusively among the country’s largest occupiers. Still, it suggests that the trajectories of a handful of companies can anticipate broader transformations across the market. And today, few illustrate that dynamic as clearly as Mercado Libre.

To learn more about these transactions and access exclusive market metrics, visit SiiLA Market Analytics or contact us at contacto@siila.com.mx.