Monterey, NL. The industrial real estate market in Monterrey 2021 concluded with a historical maximum of net absorption (difference between occupied and unoccupied square meters) in the past five years, with 873 000 square meters; and a record number of gross absorption (which includes pre-leased spaces and renovations) of 1.28 million square meters, according to an analysis by real estate investment and services firm CBRE.
Of the total spaces sold, 74% were expansions of companies already established in the region that continue to grow and consolidate, and 26% were new companies driven by supply and market potential.
Demand was mainly driven by business transactions from US, with 41% of the total, followed by 21% of European companies and 16% of Asian firms. Germany was the country with the highest European investment with 8% of operations and China trades 10% of total Asian operations, notes CBRE.
In the first nine months of the year, Nuevo León ranked second nationally in attracting foreign direct investment (FDI), which added $ 2.322 million, representing 9.4% of the national total (just below Mexico City with 16 , 5%).
“The manufacturing industry is the main industrial engine in the region, accounting for 38% of transactions in the year, excluding the manufacture of tools, machinery and electronics / appliances. Secondly, the automotive industry, with 24% of transactions, is followed by logistics, with 15%, and electronic commerce and packaging paper, both with 6%, ”explained Ramón Flores, executive vice president of CBRE Northeast region.
continue to build
At the end of the fourth quarter of 2021, the construction of just over 146,000 square meters of industrial space was completed, of which 67% was built to suit developments (custom industrial buildings) and the remaining 33% is speculative or inventory buildings.
The construction indicator ended the quarter with 678,000 square feet. Developments built to fit make up 60% of the total. Large-scale spaces such as the AGP Glass plant, Hisense and the Uline extension stand out, totaling just over 180,000 square meters.
Construction of new speculative spaces is expected to begin in the next quarter, as just over 300,000 square meters were pre-let during this last quarter of the year.
At the end of 2021, Apodaca was positioned as the corridor with the highest commercialization, with 35% of transactions, followed by Ciénega de Flores with 18%, Santa Catarina with 16% and Escobedo with 13%. It is important to note that these four submarkets are those with the largest vacancy, while the rest have a more limited speculative vacancy.
The huge demand for the Apodaca corridor is still going on with the highest prices and the largest amount of speculative space under construction (197,000 square meters).
The inventory of industrial property is 11.5 million square meters.
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Reference-www.eleconomista.com.mx