Queretaro, Qro. During the first quarter of the year, the Querétaro industrial real estate market reported a gross demand of 179,714 square meters, reaching levels similar to the pre-pandemic period of 2019, according to records from the Solili real estate platform.
However, it has not yet resumed the rate of placement registered between 2015 and 2016, one of the best periods, said Solili’s Director of Market Research, Pablo López.
Nonetheless, the state continued the pace of recovery, influenced by the demand for custom-built spaces.
The installation of data centers and projects in the automotive industry are part of the factors that have increased the demand for industrial space.
“The interpretation is that companies are arriving with very specific requirements, there has not yet been a development that could have a very positive impact on the part of speculative developments, that is, institutional developers that offer space for the industry to grow. ”, he exposed.
Due to the fact that currently the recovery of the state has been motivated by the demand for made-to-measure spaces, it is expected that speculative demand will improve soon, that is, generated by developers to place it on the market.
“When we talk about a market that is in the process of maturing, as it had been and as Querétaro is, one would expect a greater recovery in the demand for speculative”, he explained.
Meanwhile, the vacancy level remains low, after reaching the maximum figures of 7% between April and May 2021 and currently it is 4%, the latter being a pre-pandemic figure, the specialist specified.
Vacancy has been halved, reaching pre-pandemic levels, despite the fact that in mid-2021, between April and May it reached the maximum figures, they were still healthy rates; however, now there is already a downward pressure of vacancy, precisely because the spaces have been occupied little by little, ”he emphasized.
The expectation for the local market is that the vacancy rate will continue to drop, but with healthy levels, due to the requirements of companies that will absorb the existing spaces.
In addition, the recovery of speculative demand is expected to advance, a factor that in turn will imply an appreciation of this type of development.
It is also expected that the Querétaro market has growing inventories, due to the development of new spaces.
In the state there are 67 parks and authorized industrial zones: El Marqués concentrates the majority, with 34.3%; next, the municipality of Querétaro with 31.3%, Colón with 13.4% and 20.9% of the remaining area is located in the municipalities of San Juan del Río, Pedro Escobedo, Corregidora, Huimilpan and Cadereyta, according to the Secretariat of Sustainable Development ( Sedesu).