CDMX, fastest growing downtown market in Q1 2022

So far, Mexico City is the country's fastest-growing central region in industrial absorption in 2022: over three million square feet of gross absorption were registered during the first quarter of the year, according to Marcos Álvarez, CEO of Market Analysis.

MEXICO CITY

The manager explained that this market registered a gross absorption of 3.30 million square feet; of which 3.06 million square feet in speculative building construction and 452,000 SF in BTS.

He also said that the highest absorption submarkets were Cuautitlán (one million 408,593 SF), Tepotzotlán (874,981 SF), Tultitlán (557,486 SF), Tultepec (277,133 SF), Tlalnepantla (170,953 SF), and Atizapán (12,392 SF).

Nadiro (452,000 SF), Ademsa (388,649 SF), Shopee (233,236 SF), and two confidential companies, with 252,200 SF and 201,656 SF, respectively, were the most representative transactions.

The most prominent developers in the market were Panorama Industrial, Tussie, Prologis, O'Donnell and DYH, with mostly class A buildings for logistics.

Supply chain was the largest sector in the market (36%), followed by chemicals and pharmaceuticals (24%), consumer products (15%), e-commerce (12%), electrical and electronics (10%), and food and beverages (3%).

By far, Mexico was the top country with the largest share, with 81% of the total square footage; followed by China, with 12%; Germany, with 6%; and the United States, with 1 percent.

TOLUCA

There was a gross absorption of 1.22 million SF; for speculative buildings under construction, 815,983 SF, and BTS, 338,140 SF.

Transactions were carried out in the submarkets of Toluca (892,076 SF) and Lerma (332,778 SF); most of which will be for automotive manufacturing (50%), chemicals and pharmaceuticals (39%), e-commerce (9%), and consumer products (2%).

The United States represents 91% of the share by country, while Mexico represents the remaining 9%.

According to Marcos Álvarez, the representative transactions were carried out by Gates (375,175 SF), SC Johnson (338,140 SF), and by three confidential companies (two for manufacturing), for 112,268 SF, 88,319 SF, and 86,112 SF each.

Vesta, Paragon, Pulso Inmobiliario and Parks carried out these transactions.

PUEBLA

With no speculative building construction or BTS for this period (first quarter of 2022), this market had the lowest absorption in the central region: there was a gross absorption of 42,000 SF, with no speculative building construction or BTS for this period (first quarter of 2022).

Marcos Álvarez concluded that the most representative transaction of the first quarter of the year was carried out by TB&C, by Finsa Puebla in the Cuautlancingo submarket. It involved an expansion for manufacturing in a 42,000 SF space.