During 2024, 555,000 square meters (m2) of industrial buildings were occupied in the metropolitan area of Saltillo, Coahuila, a 13% increase compared to last year, according to data from the consulting firm CBRE Mexico.
The diverse manufacturing and automotive sectors were the main leaders in the leasing of industrial buildings in the city, as together they accounted for 86% of the annual demand, which has driven the construction of new projects.
During the last quarter of the year, 168,000 square meters of space were under construction and more than 235,000 square meters were in the planning stage, which could start construction work during the next few quarters.
According to CBRE, the definition of the new trade policies implemented by the new federal governments in Mexico and the United States will be the factors that will define the development of the industrial real estate sector in the capital of Coahuila.
For now, the United States reaffirms its position as Mexico's main trading partner, since 32% of the investments in Saltillo originate in the North American country. However, China is close behind with 28 percent. Next on the list are Japan (13%) and Canada (9%).
In terms of international trade, Coahuila consolidated its position as the second largest exporter at the national level, with an accumulated figure of more than 33 billion dollars at the end of the first semester of 2024, with an annual variation of 3.8%, only surpassed by the state of Chihuahua.
Speculative construction is reactivated
One of the trends that defined the industrial real estate sector after the nearshoring boom -a phenomenon characterized by the reconfiguration of global supply chains- was the construction of custom-built industrial buildings (Built to Suit) for the companies that will set up there.
The concentration of real estate developers in this market has kept pressure on the space availability indicator in recent years. However, CBRE noted that speculative construction was reactivated and now represents 36% of the projects under development.