During the 1Q 2024, Mexico City led the industrial real estate activity in the country. The demand for industrial spaces in the 24 most dynamic markets in Mexico totaled 1.2 million square meters (m2) of gross absorption, of which 34% was concentrated in the industrial real estate market of Mexico City, driven by a large transaction by DHL in T-MEX Park, near Felipe Ángeles International Airport (AIFA), according to information from Datoz’ Analytics 2.0.
Pablo Quezada, CEO at Datoz, pointed out in a press conference that this demand for industrial spaces occurs in a context of investment in the country between January and April 2024 of around 90 projects with an approximate value of $36 billion dollars, where the manufacturing sector predominates.
Among these investment projects is the one by the global logistics and shipping company, DHL Supply Chain, which in February 2024 announced an investment of $4 billion dollars for the construction of its state-of-the-art logistics campus in T-Mex Park industrial complex located in Huehuetoca-Zumpango corridor, near the AIFA.
Regarding this project, senior industrial analyst Silvia Gómez, detailed that the submarket with the highest demand for industrial spaces during the 1Q 2024 was Huehuetoca-Zumpango, due to the absorption of 200,000 m2 by DHL in a build-to-suit (BTS) project, which will become its largest distribution center in the country.
In total, the industrial real estate market in Mexico City concluded the 1Q 2024 with a total gross absorption of over 400,000 m2, representing an increase of 42% compared to the same period in 2023. Thus, 50% of the gross absorption was by DHL.
Silvia Gómez pointed out that in the following quarters, activity will continue in this area, especially in the T-MEX Park, given that the most important corridor in recent years, Cuautitlán-Tepoztlán-Tepotzotlán (CTT), does not have much availability. “There is increasingly less land available for development in that corridor, and the few plots that exist have high prices, making it difficult for developers to acquire in that area. That is why they are looking more towards the north,” she noted.
She mentioned that Huehuetoca-Zumpango corridor and, especially, the industrial park of Parks and Fibra Uno have great competitive advantages such as proximity to AIFA, the railway, and closeness to the city center, which will make it a logistics hub.
Silvia Gómez concluded that the industrial park and the corridor took time to develop, but both offer the possibility of installing large distribution centers, which will be very attractive for logistics operations in the center of the country.
