In 2025, the Mexican industrial market entered a phase of fine selection. Net absorption remained solid, though slightly below a supply pace that also slowed. This gap—more nuanced than critical—continued to push vacancy up from the historic lows of 2023, without eroding the sector’s fundamentals or its structural appeal. As a result, the most significant transactions remained concentrated in corridors with logistical connections to the United States and those geared toward domestic consumption, led by companies with long-term commitments, operational integration, and the capacity to pay record rents—above seven dollars per sqm per month in Class A space—according to SiiLA.

In a market that rewards precision over speed, the year now drawing to a close confirms that growth is not about adding square meters, but about justifying them.

Hence, while only 3% of companies absorbed more than 50,000 sqm, a broad majority—76%—did not exceed 15,000 sqm. And although activity appears fragmented, five sectors—vehicles and auto parts, consumer products, manufacturing, electronics, and capital goods—accounted for six out of every ten sqm absorbed so far this year.

The underlying message is not dispersion or slowdown, but discipline. Unlike two years ago, when demand adjusted to whatever space was available, today—with more options on the table—space is taken only if it delivers real operational efficiency. With that logic defining the year, it is worth looking at who led the most significant absorptions of 2025.

1. Mercado Libre. With close to 500,000 sqm absorbed in Jalisco, Monterrey, and the Mexico City metro area, the e-commerce giant accounted for roughly 8% of national absorption through the third quarter. That expansion places it practically on par with General Motors—the country’s largest industrial occupier—with around 1.5 million sqm nationwide, cementing the company as one of the market’s most dominant tenants.

2. DHL. With more than 90,000 sqm absorbed in the State of Mexico and Jalisco, the parcel delivery company accounted for roughly 2% of national demand in 2025, a year marked by logistics expansion. This growth comes as it prepares to integrate one of its most ambitious projects in the country at T-MEX Park, where it recently inaugurated a new facility, bringing its industrial footprint nationwide to nearly 1.4 million sqm.

3. PiSA. After absorbing around 80,000 sqm in 2025—equivalent to 1% of this year’s take-up—the pharmaceutical company now exceeds 170,000 sqm of industrial space in Mexico, consolidating its position as the segment’s largest production platform in the country. Its network of 14 plants currently manufactures more than 1,500 brands of medication.

Looking ahead to 2026, the challenge will not only be to absorb intelligently, but to retain tenants. That is why tracking the market’s evolution with verifiable indicators will be essential. Visit SiiLA Market Analytics or write to us at contacto@siila.com.mx.