Rising demand drives expansion of Guadalajara’s industrial sector I 28 February 2024
February 28, 2024

The industrial market in Guadalajara closed out the year 2023 with a positive performance, characterized by a notable increase in demand for industrial buildings. With a cumulative gross absorption of 342,000 square meters, representing a 15% increase over the previous year, the region is experiencing a boom in industrial economic activity. During the last quarter of the year, demand focused on high-quality “Class A” buildings, attracting companies from various sectors such as packaging, logistics, and the chemical industry.

This dynamism in demand has contributed to a significant decrease in market vacancy rates, which stand at a low 1.1% for January 2024. Despite a brief recovery in mid-2023, driven by the delivery of new projects, ongoing business investment has kept pressure low on this indicator, highlighting a robust and growing market.

The report by Solili highlights the reactivation of the construction of new industrial projects because of the market’s solid performance. During 2023, the construction of 16 projects was initiated, totaling 348,000 square meters, mainly concentrated in the El Salto industrial corridor. This enclave has attracted the attention of institutional developers due to its road accessibility, proximity to the airport, and availability of land for industrial use.

Iconic companies, including ROCA Desarrollos, lead these construction efforts, responding to the growing demand and dwindling supply in the market, signaling a trend towards speculative projects aimed at meeting the ever-increasing demand.

With the construction of 15 new industrial properties underway for delivery during 2024, an increase in the availability of industrial space in the region is expected. Of these projects, 85% will be available for lease, promising an increase in the supply of industrial spaces and continuous strengthening of the Guadalajara industrial market.


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