Monterey, NL. Specialist in industrial real estate agreed that Monterey it continues to be the most attractive market in the north of the country, due to the fact that investment is arriving and the vacancy rates, although low, are not at a zero level as in Tijuana and Chihuahua, however, there is a lack of incentives to develop more speculative warehouses, since currently it is estimated that 45% are custom-made ships.
“What should we do to receive more investment: be ready, everything is tailor-made, there is a lack of incentives to develop speculative vessels, in other countries they have granted specific incentives to encourage developers”, emphasized Juan Bernardo García, managing partner of the office of Monterey at Baker McKenzie.
During the third day of Panorama Forum 2022who organized Invest MonterreyJavier LLaca, Director of Operations and Investments of Fibra Monterrey, also participated. He explained that the industrial market has been attractive for Chinese companies that have settled in the municipality of Salinas Victoria, one of them is Hisense. The confinement due to Covid-19 also had an impact on the logistics sector, which has generated impressive demand from organizations such as Amazon and Mercado Libre.
“We see an upward market cycle, which will last more years, we hope that it will not be affected by the poorly conceived Energy Reform, there is a deficiency in the energy supply in many states in the north of the Republic, we hope that it will be corrected and something is done about it, we see a thriving, dynamic industrial sector and from the point of view of investment, we are very active”, assured Javier Llaca.
He indicated that in the industrial segment there are minimal vacancy rates and the markets in the north of the country are very active, since from an inventory of 35% of custom-made projects, they increased to 45%, in addition, the user is now more sophisticated, therefore, he foresees “that there will be a brutal growth (in the industrial market) in the following years”, said Javier Llaca.
As context, Miguel Cavazos, CEO and partner of Citius AG, recalled that due to the pandemic, in New Lion there were 86 transactions that were completed in 2020, and in 2021 the market was very stable in the number of transactions, of which one third were companies that arrived in the state and two thirds were already established companies that had expansions.
“82% of the industrial real estate business, which took place in 2021, was from Mexican and US companies, in addition to nearshoring (companies seeking to be close to their main consumers) from Asia to Mexico,” Cavazos said.
Storage
Miguel Cavazos highlighted that in storage for e-commerce, “I was in Tijuana and we already see cases of companies that have clothing storage or garments with a high purchasing power, which are manufactured in Asia and brought to Mexico; brands like GAP, or Banana Republic, everything that surrounds the upper middle class, nearshoring is working, they are businesses that we are not seeing”.
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