Mexico City will have more than 50 new industrial warehouses

As of 2023, Mexico City is expected to add more than 990,500 square meters of new industrial property inventory, with an average of almost 250,000 square meters added each quarter. However, it's worth noting that some properties may experience delays in delivery due to various circumstances.

The Cuautitlán, Tultitlán, and Tepotzotlán (CTT) corridor is set to be the submarket with the most significant number of square meters and the highest number of industrial buildings incorporated this year. A total of 17 warehouses will be delivered in the CTT, covering an area of over 400,000 square meters.

According to SiiLA Market Analytics, the new industrial buildings in the CTT will have an average gross leasable area of almost 24,000 square meters. In other submarkets, such as Vallejo-Azcapotzalco, the average size of the new inventory will be less than seven thousand square meters. The difference in size between warehouses in different submarkets can be attributed to factors like the degree of saturation of real estate in the area and the specific needs of each submarket.

Despite the fact that the Vallejo-Azcapotzalco submarket has the smallest average size among the seven submarkets in the city, ten warehouses will still be built in the area, the same number as in Huehuetoca and Toluca-Lerma. Dozens of new buildings are expected to be delivered in these submarkets.

After the CTT, which will account for 41% of the square meters added as of 2023, the Toluca-Lerma submarket will be the second submarket, followed by Arco Norte, Huehuetoca, Vallejo-Azcapotzalco, Tlalnepantla, and Zumpango-Nextlalpan.

More than 50 new industrial buildings will be added to Mexico City's industrial market this year, with the CTT submarket accounting for 32% of new industrial buildings. The submarkets with the most new inventory after CTT will be Huehuetoca, Toluca-Lerma, Vallejo-Azcapotzalco, Arco Norte, Tlalnepantla, and Zumpango-Nextlalpan.

Despite having the smallest number of warehouses and square meters incorporated as of 2023, Zumpango-Nextlalpan will have the largest warehouse among the seven submarkets of Mexico City, with a property of over 17,000 square meters located in the CPA Logistics Center.

For more information and insights on Mexico's commercial real estate market, visit SiiLA or email contacto@siila.com.mx.