During the past year, the accumulated net demand for industrial spaces in Saltillo, Coahuila, amounted to 555,000 square meters (m2), representing a 13% increase compared to the 491,000 m2 demanded in 2023, reported CBRE Mexico.
The real estate firm detailed that this growth was primarily driven by the delivery of pre-leased properties, which added to the occupied space in the city. The diverse manufacturing and automotive sectors were the leading contributors to industrial activity in Saltillo, representing 86% of annual demand, with a significant focus on the Ramos Arizpe submarket.
CBRE analysts highlighted that Saltillo experienced a new maximum average rental price at the end of 2024, reaching $6.54 per month per m2, an annual increase of 17.4%. This increase is attributed to the delivery of new offerings in Ramos Arizpe, with projections that prices will continue to rise due to the limited current supply in the city.
During the past year, the industrial real estate market in Saltillo experienced continuous growth driven by the industrial dynamics of Coahuila. The total inventory at the end of 2024 was 4.97 million m2, with Ramos Arizpe concentrating 66% of the supply. More than 573,000 m2 of new supply was added throughout the year, marking the most significant increase on record, equivalent to an annual increase of 13.2%.
The vacancy rate remained at 1% at the end of the year, a figure that reflects only 47,000 m2 available and for sale. During the last quarter of the year, an uptick in construction activity was observed, with over 168,000 m2 in new projects under construction, totaling 323,000 m2.
Additionally, there are more than 235,000 m2 under monitoring in the planning stage that could begin construction in the coming quarters. Speculative construction has been reactivated, representing 36% of the development, which will allow for the incorporation of 115,000 m2 into the market soon, improving the vacancy rate in Saltillo.
