Real estate development accelerated in the last two months; however, vacancy rates increased by 18% year-over-year.
Industrial construction in Mexico is rebounding, even amidst uncertainty stemming from the trade relationship with the United States and the upcoming review of the United States-Mexico-Canada Agreement (USMCA).
During October and November 2025, construction began on approximately 970,000 square meters, representing a 38% increase compared to the same period in 2024, according to data from Solili.
Industrial construction in Mexico is rebounding, even amidst uncertainty stemming from the trade relationship with the United States and the upcoming review of the United States-Mexico-Canada Agreement (USMCA).
During October and November 2025, construction began on approximately 970,000 square meters of industrial space, representing a 38% increase compared to the same period in 2024, according to data from Solili.
While the inventory and construction projects for industrial buildings continue their upward trend, the consulting firm warned that occupancy rates are slowing as supply continues to expand.
This situation presents significant challenges for the sector, especially at the close of a year marked by trade tensions, supply chain adjustments, and a more demanding global environment.
Industrial economic activity remains constrained by changes in international trade dynamics, such as the imposition of tariffs.
Between January and November 2025, 4.6 million square meters were occupied, a figure 22% lower than the cumulative total recorded during the same period in 2024.
This is compounded by an increase in vacant industrial spaces. In the two-month period of October and November, 117,000 square meters of industrial space became available, representing an 18% increase compared to the same period of the previous year.
Cities with a strong manufacturing and logistics focus were affected. This was the case in Guadalajara, which led the tenant departures with 29% of vacancies, followed by Tijuana with 23%, according to an analysis by Solili..
Despite this more moderate absorption rate, the consulting firm highlighted that the market continues to show solid foundations, albeit with more cautious decision-making.
At the end of November, the industrial real estate inventory in Mexico reached approximately 111 million square meters, representing a year-over-year growth of 7%.
Source: Solili
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