Industrial leasing activity remains strong in northern Mexico, where nearshoring continues to drive historic demand for logistics and manufacturing facilities. Monterrey led absorption in 2024 with nearly 2 million m², while Saltillo and Tijuana also posted record volumes. CBRE Mexico notes that vacancy rates across these cities have fallen below 2%, creating upward pressure on rents, which have risen between 15% and 20% year-over-year.
Multinational manufacturers in the automotive, aerospace, and electronics sectors are the primary drivers, relocating from Asia to be closer to U.S. markets. Build-to-suit leases are increasingly common, with tenants signing contracts of 10–15 years to secure space in a market where new supply struggles to keep pace with demand. Infrastructure bottlenecks—such as water scarcity in Monterrey and congestion at border crossings—remain significant constraints, and developers are working closely with local governments to expand capacity.
Why it matters: Investors in industrial real estate are capitalizing on long-term leases, providing stable income streams and strong asset appreciation in a market with limited supply.
*GCM Intelligence is sponsored by Global Capital Mobility, Inc. and GCM Fund Management. All content is provided for informational purposes only and should not be considered investment advice.*
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GCM Intelligence © 2025 | Sponsored by Global Capital Mobility, Inc. and GCM Fund Management