The industrial real estate sector in Guadalajara continues to grow I 1 December 2023
December 1, 2023

With over 204,000 square meters of buildings to be constructed by the end of Q3 2023, 85% will be located in El Salto, and the rest in the Antigua Zona Industrial. At the close of the first semester of 2023, among the Federative Entities with higher participation in Foreign Direct Investment (FDI), Jalisco ranked fourth (5%), concentrating $1.39 billion of the investment. This is behind Mexico City with investments of $10.225 billion (35%), Nuevo León with $2.795 billion (13%), and Baja California with $1.463 billion (5%).

In terms of new accumulated investments by 1H 2023, Jalisco positioned itself third with $451.1 million, following Mexico City with $548.5 million and Baja California Sur with $474.3 million. According to the Secretaría de Desarrollo Económico de Jalisco, an additional investment between $1 billion and $1.5 billion could materialize during the second semester of the year.

Additionally, based on advanced negotiations, a little over 60,000 square meters of additional gross absorption are contemplated by the close of 2023, encompassing existing buildings and pre-leased projects, primarily located in El Salto, as mentioned by CBRE in an analysis.

With the aim of promptly accommodating businesses in need of Class A industrial spaces in Jalisco, developers continue to introduce projects into the construction pipeline in the Zona Metropolitana de Guadalajara (ZMG). By the close of Q3 2023, more than 204,000 square meters of buildings were registered to be constructed, with 85% allocated to El Salto and the remainder to the Antigua Zona Industrial. In terms of projects in planning, over 700,000 square meters are recorded, of which approximately 60,000 square meters could commence construction in the last quarter of the year.

During the first nine months of the year, over 450,000 square meters have been added to the inventory, surpassing the new cumulative offer by 260,000 square meters from the same period in 2022. The investment and commercial real estate services firm estimates that by the end of the year, 90,000 square meters will be added with buildings ranging from 6,000 to 62,000 square meters. For Q1 2024, the entry of 80,000 square meters is projected, and both scenarios will be incorporated into the inventory of El Salto.

Regarding absorption rates, the gross absorption of Class A industrial spaces in the Zona Metropolitana de Guadalajara accumulated over 311,000 square meters by the close of Q3 2023, representing 82% of the gross absorption accumulated during the same period in 2022 (379,000 square meters).

“For December, it is expected that negotiations can be concluded for approximately 60,000 square meters, both existing and in-project. Regarding the accumulated net absorption recorded at the close of Q3 2023, it reached more than 241,000 square meters (81% of the accumulated net absorption from the same period in 2022),” stated the firm.

As for the inventory, it indicated that by the close of Q3 2023, it reached 4.59 million square meters, with an annual increase of 12.4% compared to Q3 2022. Regarding the new quarterly supply, more than 60,000 square meters were added to the inventory, three times more than the same period in 2022 (19,000 square meters). The new meters are concentrated in El Salto and Zapopan Norte with 64% and 36%, respectively.



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