Over the past four years, the industrial real estate market in Mexico City (CDMX), which also includes corridors in Estado de México, has seen significant increases in industrial buildings asking prices. The five most dynamic corridors with available buildings are now leasing spaces for over $11.00 USD per square meter per month (USD/m²/month).
At the end of 2024, the average asking price for industrial buildings in CDMX reached $9.28 USD/m²/month, marking a 60% increase in four years. In 2020, the asking price was $5.75 USD/m²/month, according to Analytics 2.0 by Datoz.
This price surge is driven by the growing demand for industrial spaces in this market, fueled by e-commerce, logistics, and distribution. Notably, CDMX had the highest demand for industrial buildings in 2024, with transactions totaling 1.3 million m².
Additionally, the limited availability of industrial land for new developments is another factor pushing asking prices higher. Overall, high demand surpasses the available supply, further driving up prices.
Central Submarkets in Mexico City Have Asking Prices of $11.00 USD/m²
The submarkets closest to the center of Mexico City (CDMX) are the most sought-after, offering the limited availability of industrial buildings at prices exceeding $11.00 USD/m²/month. These submarkets include Centro, Naucalpan, Tepotzotlán, Tlalnepantla, and Vallejo-Azcapotzalco.
Naucalpan and Tlalnepantla, located at the border between CDMX and Estado de México, hold a strategic position, featuring strong logistics infrastructure and an inventory of Class A industrial buildings. These markets have the highest lease prices, exceeding $11.65 USD/m²/month.
Centro and Vallejo-Azcapotzalco, within CDMX, are particularly desirable for e-commerce and logistics companies due to their direct access to over 9.2 million residents who rely on their services. Industrial buildings asking prices in these submarkets exceed $11.50 USD/m²/month.
Emerging Submarkets and Class B Buildings Offer the Lowest Asking Prices
Emerging submarkets with a higher inventory of Class B buildings have the most competitive industrial warehouse asking prices. These include Huehuetoca-Zumpango, which is in full development and aims to establish itself as a logistics hub alongside Felipe Ángeles International Airport, as well as Toluca and Iztapalapa, which have a greater inventory of Class B properties.
Even though these submarkets offer the lowest prices, they still exceed $7.95 USD/m²/month, significantly higher than asking prices from four years ago.
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