Monterrey industrial market closes Q2 2025 with inventory increase

The Monterrey industrial market closed the second quarter of 2025 (Q2 2025) with a landscape of readjustment, marked by a significant increase in inventory and a rise in the availability rate, according to Colliers in its Industrial Report.

According to the firm, the growth of Class A and B warehouses continues, however, the presence of subleases for the first time in three years suggests a period of consolidation following the nearshoring boom.

This scenario is unfolding in a global macroeconomic context of slowdown and trade tensions, while Mexico maintains the strength of its financial system and adjusts its monetary policy to contain inflation.

According to figures presented by Colliers, at the end of Q2 2025, 1,867 Class A and B warehouses were monitored in Monterrey. This amounted to a total of 23.2 million square meters (m2) distributed across the nine submarkets that make up this industrial market.

Colliers reported that during this period, Class A buildings accounted for 59% of total supply, while Class B buildings accounted for 41%.

The industrial market in Q2 2025 recorded an increase in inventory of 653,635 m2, up 49% from Q2 2024 (438,167 m2).

“The new developments were located in Apodaca, Guadalupe, Santa Catarina, Escobedo, Ciénega de Flores, and Salinas Victoria,” Colliers said.

In terms of availability rates, the market registered 5.66% during Q2 2025, which is 2.96% higher than the rate registered in Q2 2024 (2.70%).

Likewise, the presence of subleased buildings increased, reaching approximately 100,000 m2 available for this type of rental.

“This phenomenon marks the highest vacancy rate in three years, reflecting a new phase of readjustment following the nearshoring boom.”

As of June 2025, 84 Class A and B industrial properties under construction in Monterrey were monitored, representing 2.173 million square meters. These projects are expected to be completed during 2025 and early 2026.

It should be noted that 54% of the projects mentioned are speculative, while 46% are build-to-suit (BTS).

As for industrial buildings currently in the planning stage, 64 Class A and B properties were registered, totaling 1.485 million m2 that could be added to the inventory during the 2025–2026 period.

On the other hand, cumulative net activity during Q2 2025 recorded 860,677 m² of transactions for Class A and B spaces. This represented a difference of -31% compared to 2024 (1.2 million m²).

Finally, the submarket with the highest activity in this period was Apodaca (143,959 m²), followed by Santa Catarina (122,018 m²).