Nearshoring activity (relocation of production lines) continues to strengthen the Mexican industrial market. According to the most recent report from CBRE Mexico, at the end of the third quarter of 2024, there was a 14% growth in demand for industrial space compared to the same period of the previous year.
In this regard, 1.7 million square meters were accumulated. This behavior responds to the sustained interest of global companies in relocating operations to Mexico to optimize costs and strengthen supply chains .
Among cities or regions, Monterrey led the activity in the country from January to September of this year , while the states on the northern border concentrated 67% of the spaces sold, due to their strategic location and connectivity with the United States.
In terms of sectors, the automotive sector stood out with 38% of total demand , becoming the main driver of growth. This sector was key both in expansions and in the arrival of new companies to the national market.
Another relevant fact in the report is the 32% annual increase in Mexican exports of high-tech products to the United States. This performance consolidated Mexico as the second largest exporter in strategic sectors such as biotechnology, optoelectronics and aerospace, only behind China.
Overall, nearshoring activity accounted for 35% of the total gross absorption of the industrial market at the end of the third quarter. The results suggest Mexico’s role as a key destination for industrial investment and the relocation of production chains to North America.
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