Monterrey leads the demand for space, with 50,000 square meters leased in November 2024.

The eight main manufacturing and logistics markets in northern Mexico accounted for 40% of the rent for industrial warehouses nationwide in November 2024, driven by the relocation of companies ( nearshoring ).

According to data from the real estate services firm Solili, Monterrey , Saltillo, Reynosa, Ciudad Juárez, Chihuahua, Tijuana, Tecate and Mexicali are the cities with the greatest activity in the industrial real estate sector in the area bordering the United States.

The city of Monterrey leads the demand for spaces, as it occupies second place at the national level, only surpassed by Mexico City. In the eleventh month of last year, it registered nearly 50,000 square meters (m2) rented.

For its part, Saltillo recorded a total occupancy of more than 30,000 m2, thanks to the construction of Build to Suit projects (made to measure), positioning it as the second market with the highest level of industrial leasing in the northern part of the country.

Other markets such as Reynosa and Mexicali maintained a volume close to 20,000 m2 of industrial warehouses sold. According to Solili, these destinations stand out for their direct connectivity with the United States as border cities, which is why they play a fundamental role in attracting investment to the country.”

Growth in Tijuana

By having one of the main border crossings in the world, Tijuana has become a key point for companies looking to take advantage of nearshoring , as it facilitates their proximity to the North American market.

Lyman Daniels, president of CBRE for Mexico, Colombia and Costa Rica, explained that the strong demand for space has encouraged the construction of new industrial parks . Currently, the city has 300,000 m2 under development and a similar number in the planning phase.

After 36 months of historic lows due to the intensive occupation of existing speculative and custom-built industrial spaces, in 2024, the vacancy rate in the city has increased to 3.6 percent.

“Tijuana’s industrial market is one of the most active in the country and has established itself as the fourth largest border market, with an inventory of Class A industrial warehouses close to 4 million m2,” said Lyman Daniels.

Due to this dynamism, the commercial real estate and investment services firm recently strengthened its operations in the border city to offer consulting and facilitate transactions at the local level.

El Economista. Northern cities account for 40% of industrial warehouse occupancy in Mexico