New industrial parks in Western Mexico

  • In the first six months of this year, Jalisco's industrial parks attracted 63 transactions, both expansions and arrivals of new companies, representing a total of 3,827,743.42 square feet in the first half of the year, or 90 percent of the total placed during 2020, which was 4,250,330.54 square feet, according to figures from the Association of Industrial Parks of Jalisco (APIEJ).

  • Jalisco has become an important point for the arrival of new companies, both domestic and foreign. In this regard, Mr. Sergio Javier Ríos, general director of Investment Attraction at Secretariat of Economic Development of Jalisco (SEDECO), points out that in order to respond to the demands of the companies that have decided to expand in the region and for those that are arriving, new industrial parks are currently being built. "At least we bring in portfolio the construction of 10 new industrial parks in a corridor near the Guadalajara International Airport that will be key for the development of Jalisco. This is the Distrito Sur project, which includes the municipalities of Tlaquepaque, Tlajomulco, El Salto, Ixtlahuacán and Chapala, where an important industrial hub is being developed that will be very efficient for all the operations that take place in Mexico."

    He adds that of the 10 new industrial parks, nine are located around the Guadalajara International Airport, from boutique to large formats, which are mostly demanded by Chinese companies.

    "Jalisco has around 70 industrial parks in various formats and a current availability of 2.5 percent. We are undoubtedly obliged to increase our supply of industrial spaces, although we also observe very innovative issues, for example, we have the first electronic company with a four-story plant to carry out its productive processes, and in Lagos de Moreno, a city located in the Altos Norte Region, there is an automotive company with a three-story plant for productive processes. In addition, the companies are analyzing how to develop more space and make the best possible use of it," states Mr. Ríos.

    In fact, last July 28, in Tlaquepaque, Jalisco, the new last mile industrial park, Élite Las Terrazas I, was inaugurated, whose construction represents the arrival of a new generation of industrial spaces, since according to the APIEJ it will be governed under the Business Park-last mile quality, with the flexibility of offering spaces of 700 square meters on average, in addition to having a surface of 144,914.53 square feet, nine industrial buildings and at the beginning it will house about 12 companies.

    The official declares that in November and December of this year there will be greater availability of industrial spaces, since several industrial parks will deliver the first industrial warehouses or first phases of development, which will help the state to receive more investments.

    One of the factors contributing to the attraction of national and foreign investment to Jalisco is that from this state the distribution covers 60 percent of Mexico's population. "These types of factors become key when companies decide to invest here. In addition, infrastructure and industrial parks are being built, and we are working to have Strategic Bonded Warehouses in the Metropolitan Zone to streamline the clearance of goods entering through the port of Manzanillo. We are creating the ideal conditions for foreign and Mexican companies to feel that there is full support.”

    Jalisco, fertile land for the development of industrial parks

    American Industries, VESTA, FINSA, among others, are some industrial park developers that have bet on Jalisco as a state with fertile land to develop industrial parks with high quality standards, safe, and certified.

    "There are many world-famous industrial park developers who are not necessarily from Jalisco and who have come to invest in Jalisco, as they have found very fertile soil here. There are also local entrepreneurs such as Alveo Kapital that are developing Kampus Industrial Santa Rosa, a project that seeks to increase the infrastructure of industrial spaces for national and international AAA companies within a logistics or light industry site in the submarket of the industrial corridor of El Salto, Jalisco," explains the general director of Investment Attraction of SEDECO.

    At the beginning of 2021, FINSA, a developer in the industrial real estate sector in Mexico, announced the acquisition of 493,396.13 square feet in the El Salto Industrial Park in Tlaquepaque, Jalisco, for USD$25.5 million.

    This is one of the initial transactions of its new Finsa III Fund and FINSA's expansion plan. The portfolio consists of three buildings and is currently in a primary market with high industrial activity, with important clients such as ZF Services, Inventronics, Expeditors International, Omnilife and Cargoquin, and a diversification by industry: 34 percent automotive, 27 percent manufacturing, 23 percent logistics and 16 percent healthcare. In this way, FINSA continues to increase its presence in strategic areas and industries in the country.

    El Salto, Jalisco, has maintained its growth during the last 10 years and is one of the most relevant and dynamic submarkets of the city of Guadalajara, which ranks fifth nationally for its industrial market size of 48,437,596.88 square feet. "Despite the current economic situation, we observe that Jalisco has deep-rooted production and value generation factors, such as talent, infrastructure, and the positioning it has achieved in recent years in advanced and specialized manufacturing, as well as its ideal location for the logistics sector," says Mr. Sergio Argüelles González, president and CEO of FINSA.

    Industrial real estate in the western Bajío region

    • 22.3 million m2 was the net rentable area of the Bajío Occidente region comprising the markets of Aguascalientes, Guadalajara, Guanajuato, Querétaro and San Luis Potosí in the second quarter of 2021, 1.11% higher than the same quarter of 2020.
    • 4,748,327 m2 of net rentable area inventory in Guadalajara, Jalisco, on the second quarter of 2021.
    • 3.32% was the availability rate in Guadalajara, which has achieved reductions in its rate in line with its dynamism during the second quarter of 2021.
    • 420,836 m2 was the gross absorption accumulated at the Bajío from January to June 2021, of which Guadalajara added 227,881 m2. It had a very dynamic first quarter of 2021, while in the second quarter it closed 50,111 m2 in eight rental transactions for logistics activities. Home Depot led the transactions with more than 15,000 m2.
    • $4.71 USD/m2/month was the starting price for industrial warehouses in Guadalajara, the highest in the Bajío Occidente region, while its closing price was $4.93 USD/m2/month.

    Source: Industrial real estate market report on the second quarter of 2021, Datoz.
    1. Inventory (m2): total size of a real estate market considering delivered and under construction buildings of all classes (A, B and C).
    2. Availability rate (%): ratio of marketed space, for rent or sale, to the total inventory.
    3. Availability (m2): total available space for rent or sale including speculative space under construction.
    4. Absorption (m2): refers to the amount of space that was occupied through a rental or sale transaction during a given period.
    5. Exit price (USD/m2/month): average rental or sale rate at which space in a building is offered.
    6. Closing price (USD/m2/month): rate at which a space was actually leased or sold.