For the industrial real estate market in the Metropolitan Zone of the Valley of Mexico and the Valley of Toluca, 2022 was a favorable year, since historic occupations were reached, record figures in availability, in addition to an increase in inventory.
The latest Newmark report states that the inventory of the two regions was 3.6 million square meters (m²), an annual increase of 4.7%.
According to the director of the Newmark industrial sector, Patricio Domínguez Patlán, during the past year the spaces under construction responded to the trend of market dynamism and the rise of the industrial logistics sector.
He explained that the corridors with the largest area under construction correspond to Cuautitlán, Toluca and Tultitlán, with surfaces that, together, exceeded 300,000 m².
In terms of net absorption, in the last quarter of 2022, 69,831 m² were reported in the Metropolitan Zone and 31,030 m² for Valle de Toluca, reaching 100,861 m², with an annual net absorption of 302,935 m².
“Regarding the vacancy rate, the fourth quarter of last year closed at 0.9% in the Metropolitan Zone of the Valley of Mexico and 3.5% in the Toluca Valley, giving a joint vacancy rate that closed at 1.3%,” he said. company analysis.
Throughout the year 2022, the upward trend in prices in the Valley of Mexico was also noted; for the fourth quarter of 2021 it was reported at 5.54 USD/m²/month, while during the last quarter of 2022 it closed at 7.01.
Outlook 2023
Regarding the projections for 2023, Patricio Domínguez explained that the shortage of available space may continue.
“The panorama of the industrial market in Mexico City and the metropolitan area is increasingly complicated and challenging, due to the scarcity of land to develop, the obtaining of permits and construction licenses, the increase in construction costs and the continuous demand for industrial spaces”, he stressed.
