Bajio states maintain industrial real estate market boom: Newmark

The industrial real estate market Shallows is still on the rise. January to September 2022 saw increased construction of plants for the manufacture of transportation equipment, as well as expansions in ships from the aerospace, automotive and logistics sectors.

according to the platform Newmarkclass A industrial inventory in the region reached 14.5 million square meters, as well as an increase in starting prices compared to the previous quarter, of 3.2 percent.

“There was a decrease in the net and gross absorption values ​​compared to the previous quarter, the third quarter stood out for the decrease in the availability rate for both markets, going from 3.2% to 2.9% between the second and third quarters of 2022” , deepened the document published by the company.

Within this region, the states that stood out the most were Guanajuato y Queretaro. The Guanajuato entity has had an unusual increase in gross absorption values, precisely, the industrial buildings have large dimensions and a greater speed in construction is being generated.

About this, the most outstanding case is the corridor ride which registered the entry of a 45,000 square meter warehouse built in three months in the Amistad Chuy María Industrial Park.

“At the end of the third quarter, expansions were registered in plants for the production of the automotive sector in the Apaseo corridor, as well as for the manufacture of heavy machinery parts in the León corridor. Construction volume related to expansions represented 80% of the total being developed. In this way, companies with a presence in Guanajuato are committed to boosting production in Mexico,” said the analyst from the Newmark Market Research division, Fernando Lara.

Silao also registered the incorporation of new industrial buildings in the Puerto Interior industrial park (it is being attractive due to its proximity to the airport). Another example was the Apaseo corridor, where the construction of new speculative warehouses began in the Amexhe Industrial Park, which stands out for its proximity to Querétaro.

“An important aspect was a closure in the León corridor, in a warehouse that corresponds to the highest prices in the market. The foregoing reflected the confidence of investors in the main submarkets of the region”, added the analyst.

Meanwhile, negative absorption was recorded in some additions of new speculative warehouses in Silao, as well as positive absorptions in the San Miguel de Allende, Apaseo, León and Salamanca corridors.

“Although the volume of production in Guanajuato for secondary activities had a reduction compared to last quarter, an upward trend has been maintained in recent months. The food and machinery and equipment manufacturing sectors had a growth in the value of exports,” said Fernando Lara.

As regards the industrial market in Queretaroat the end of the quarter the downward trend in the availability rate was maintained, the volume of construction decreased slightly and the starting price increased as well as the activity related to new inventory.

Given the entry of new occupied warehouses and the decrease in the availability rate, Newmark projected that an increase in demand on existing ships is expected.

The decrease in the industrial area under construction was 61,000 square meters, which went from 369 to 30,000 square meters between the second and third quarters.

Projects

In Querétaro, a new industrial park was announced in the Airport corridor and the entry of a new industrial developer in the North corridor, through the purchase of an existing portfolio, to reach a class A industrial inventory of 6.4 million square meters at the end of the third quarter of 2022.

“The technology sectors related to the aerospace and automotive industry have announced through six companies investments of 9 million pesos for expansion of their plants in the Airport and El Marqués corridors. In addition, Amazon reached the El Marqués corridor in an articulated strategy, since together with Guanajuato and Guadalajara they are preparing to serve their growing market located in the Bajío”, informed Fernando Lara.

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