During the second quarter of this year, warehouses of less than 10,000 square meters were the most vacated. However, there were much larger vacancies, such as the appliance company Mabe, which vacated a warehouse of more than 76,000 square meters in the State of Mexico, in a context where the company has announced its expansion in the Bajío region, specifically in San Luis Potosí, with a 100,000-square-meter distribution center. Other notable departures included pharmaceutical company Maypo and electronics company Resideo Technologies, which vacated warehouses of more than 20,000 square meters in Mexico City and Ciudad Juárez, respectively.

The companies that vacated the most space included electronics, capital goods, and pharmaceutical companies, representing 51% of the vacated area.

It is important to note that most of the vacated warehouses are located in the suburban areas of the Valley of Mexico, followed by those in the north and Bajío regions, which concentrated 37%, 32%, and 31% of the vacated area, respectively. Additionally, SiiLA Market Analytics data indicates that, regardless of the tenants, most of the vacated spaces were Class A, consistent with the high-quality inventory offered nationwide.

As the market adjusts, industrial sector players must adopt strategies to manage vacated space. Companies should consider the flexibility of their lease agreements and the modernization of their facilities to attract high-profile tenants. Additionally, the nearshoring boom suggests a significant opportunity for developers who can offer advanced logistical solutions and strategic locations.

In this context, collaboration between the public and private sectors will be essential to foster a favorable investment environment, reduce uncertainty, and promote sustainable growth. Support policies for infrastructure and economic stability will be vital to maintaining investor confidence and ensuring that net absorption continues its positive trend.

Although space vacancies have led to a limited increase in industrial market vacancy rates, underlying trends indicate a short-term recovery driven by increased absorptions and a gradual slowdown in tenant departures. This suggests significant retention levels in a stabilized market whose adaptability and growth potential anticipate a promising future in Mexico.

For more information on the industrial market's performance and development, explore SiiLA REsource or contact us at contacto@siila.com.mx.