Demand, renewals and pre-leasing are part of the dynamism with which the industrial real estate market in the Metropolitan Zone of the Valley of Mexico (ZMVM) remains, after an upward trend that has been going on since 2022.
All this is a result of nearshoring and especially the evolution of e-commercea trend that has represented historical figures in the face of the growing demand for industrial spaces, which was estimated at half a million m2 of inventory.
In 2022, availability in the region reached 0.9 percent and 3.5 percent in the Toluca Valley, with which the inventory once again grew with the entry of 60 thousand m2 of class A spaces and of which CBRE estimated an inventory of 468 thousand m2 in all classes destined for this niche.
However, this dynamic was transformed to give weight to other runners. One of them is the CTT Industrial Corridor (Cuautitlán, Tultitlán and Tepotzotlán), or the last mile, which maintains its growth due to the logistics and distribution requirements close to CDMX.
As of last first quarter, CTT corridors accumulated an inventory of 8.56 million m2 of the 11.86 m2 of industrial space in the region, an average availability of 0.1 percent and average rental prices of $8.61 per m2, according to a report from Newmark, which does not consider the Toluca Valley area in the measurement.
However, given the low availability, the participation of the Oriente, Iztapalapa-Iztacalco and Vallejo-Azcapotzalco areas increased, the latter with rental prices of up to $12.50.
However, inertia has generated growth in other areas, where operations such as that of DHL Supply Chain are registered in the T-Mex Park project adjacent to the Felipe Ángeles International Airport (AIFA).
According to Analytics 2.0 from Datoz, the operation closed in February is part of an investment plan of 4 billion dollars for the construction of its 200 thousand m2 logistics campus, the largest center in the country, in the Huehuetoca-corridor. Zumpango under a build to suit (BTS) project.
Analysts consider that given the low availability of the CTT corridor and the reconversion of second-generation buildings in CDMX, demand favored the expansion of the corridor adjacent to the AIFA where, in addition to the T-MEX Park, Parks and Fibra Uno have been added.
These guidelines are undoubtedly an example of the weight that logistics generates in industrial real estate activity in the ZMVM.
