Industrial parks in Mexico City have been in increasing demand, with a steadily declining vacancy rate.

From about 7% in the first quarter of 2021, this rate decreased to 0.9% in the third quarter of 2023, according to data from CBRE.

Overall, Intercam Banco indicates that at the close of the third quarter of the current year, industrial parks remain in very tight supply conditions due to the continued growth in demand in the country. 

Mexico City and the Metropolitan Zone are the largest logistics hub in the country. From January to September, the logistics sector captured 71 percent of transactions, while online commerce 18 percent.

For Mexico City, the vacancy rate at the end of September was at a historic low, while inventories have been growing at a rate of 6.9%, with a record 10.6 million square meters in the last 12 months. 

Also at the end of the third quarter of this year, 526,339 square meters were added, 70% of which were pre-leased. 

Rents were US$8.43 per square meter, 23% higher than in the same quarter of the previous year.

Industrial Parks

According to the Mexican Association of Private Industrial Parks (AMPIP), Mexico has more than 425 industrial parks distributed in 27 states of the Mexican Republic. 

However, this figure is insufficient due to the nearshoring phenomenon because the arrival of more than 200 companies per year is expected in the next five years. 

Intercam Banco points out that the world economy is realigning, trade and supply chains are becoming less decentralized and less interconnected as globalization slows down, or even reverses, in a multipolar world. 

In particular, Intercam Banco highlights that Mexico could be one of the main beneficiaries. Regardless of which party is in power in the United States (Republicans or Democrats), the trade war between China and the United States will not ease in the near future, and the leading global market is looking for new allies that are geographically close and politically aligned to its vision.