Oversupply of industrial space in states with low industrial diversification.

Tariff uncertainty has affected various sectors, such as the metalworking and automotive industries in Tijuana, Chihuahua, Nuevo León, and Jalisco, which are maintaining and strengthening their position as a high-tech industrial ecosystem, according to Bruno Martínez Zurita, president of the Jalisco State Industrial Parks Association (APIEJ).

However, business owners in the industrial parks sector have seen a slowdown in other markets outside of Jalisco, a state that is home to 21 industrial parks; many of these sectors have not been affected by U.S. tariffs, which has helped protect the industry.

One example is the industrial market in the Guadalajara Metropolitan Area (ZMG), which reached an inventory of 8,005,662 m² by the second quarter, with an availability rate of 5.7%—significantly lower than the 8% to 10% recorded in other industrial markets across the country.

Furthermore, while other markets experienced an oversupply of industrial space, they are only just beginning to recover. In Jalisco, however, there has been more caution, despite continued growth.

Martínez emphasizes that sectors such as electronics, semiconductors, medical devices, and logistics have driven the growth of Jalisco’s exports, placing the state second in terms of export value, according to an analysis conducted by the National Institute of Statistics and Geography (Inegi). Previously, Jalisco had set a record by absorbing 600,000 m², representing an investment of approximately US$650 million, according to the specialist. As of the second quarter, there are 687,007 m² under construction in the ZMG, with an estimated annual inventory growth of 8.84% for institutionally-owned parks and 7.55% for privately-owned parks.