What Slowed Mexico’s Industrial Market in Q2 2026?

According to SiiLA, demand for industrial space slowed between April and June due to fewer companies entering the leasing market.

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Peter Resnick, founder of XB Fulfillment, which ceased operations in Reynosa after its customs permits were revoked. Photo: SiiLA.

By: SiiLA News

07/20/2026

In the second quarter of 2026, net absorption in Mexico’s industrial market fell to 550,000 square meters, its lowest level since late 2020. The question is why.

A first explanation lies in demand. According to SiiLA data, gross absorption fell nearly 40% from the previous quarter and 39% compared with the same period in 2025. By contrast, vacancies declined by about 17% and 33%, respectively. In other words, the deterioration in net absorption was driven by lower leasing activity, while the decline in vacancies partially offset that effect.

The slowdown was not uniform. Nearly 87% of the quarter-over-quarter decline in national net absorption was concentrated in five markets: Saltillo, Guanajuato, San Luis Potosí, Reynosa and Tijuana. By contrast, Mexico City and Monterrey accounted for about 92% of the square-footage gains recorded among improving markets.

The causes behind the slowdown...

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