The Mexican Association of Real Estate Professionals (AMPI) has predicted that 2023 will be a record year for the industrial real estate sector in Mexico, with a significant increase in the sale and rental of industrial buildings in the border area and the Bajío region.
According to Ignacio Lacunza Magaña, national president of AMPI, there is a high demand for industrial buildings by companies attracted by nearshoring in the northern border area, the Bajío and towns near the Transisthmus Corridor and the Tren Maya. Nearshoring refers to the trend of companies relocating their production to nearby countries to reduce costs and improve logistical efficiency.
In addition, the growing popularity of e-commerce is also driving demand for industrial space in Mexico. At this time, vacant space in cities such as Tijuana, Mexicali, Juarez, Nuevo Laredo and the Bajio are less than 1% of the total inventory of industrial buildings for rent.
In the third quarter of 2022, border industrial markets and the cities of Monterrey and Guadalajara had historic absorption numbers, with industrial space leasing over 200,000 square feet.
Lacunza Magaña highlights that Mexico has a skilled labor force, world-class infrastructure and excellent services to receive all first class companies seeking to establish themselves in an agile, orderly and formal way to start their operations. Thanks to the increase in supply chains derived from the exponential growth of digital commerce, Mexico has become a magnet for the arrival of new companies due to its proximity to the United States, which facilitates the logistics of their day-to-day operations.
According to the Inter-American Development Bank (IDB), nearshoring opportunities in the short and medium term for Latin America mean 78 billion dollars in new exports of products and services, particularly in industries such as pharmaceuticals, renewable energies, textiles or automotive. Mexico would be taking around 35 billion dollars, making the country one of the biggest beneficiaries in the region if it knows how to take advantage of this great opportunity.
The National Council of the Export Manufacturing Industry (Index) reported that Mexico will receive 11 billion dollars in new investments in 2023, which come as part of the nearshoring boom.
Lacunza Magaña points out that there are three regions of the country that benefit the most from the “near offshoring” or nearshoring phenomenon: the northern border area of the country, the Bajío region and the towns near the Transisthmian and Maya trains. In the case of the northern markets, they have the advantage of being on the border with the United States, which means that the companies that establish themselves there will have better availability to move their goods in a very short time and drastically reduce their operating costs.
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