Querétaro’s Industrial Inventory Rises, but Construction Activity Falls

The industrial inventory is expanding in Querétaro, meanwhile the construction of new projects is underway, according to Solili, the leading information platform for the Mexican real estate sector.

In July of this year, the state’s industrial inventory reached 8.8 million square meters, experiencing annual growth of approximately 5%, thanks to the addition of 400,000 square meters.

However, local market activity saw a 40% year-over-year decline, indicating a slowdown in new project development. As a result, this decline suggests that the industrial sector will experience more moderate growth in the coming months.

According to Solili, the inventory data reveals a steady addition of new space to the market over the past year, reaffirming Querétaro state's position as one of the country's leading industrial hubs.

At the end of August, the Mexico City–Querétaro industrial corridor accounted for the majority of the state’s industrial inventory, estimated at 32%. The Querétaro–San Luis Potosí corridor accounted for 30%, while approximately 29% was concentrated in the Airport corridor.

In Querétaro’s industrial zones, rental prices per square meter were recorded at US$6.50 in the “5 de Febrero” neighborhood, while in the Airport Zone they reached US$6.29 and in Mexico-Querétaro US$6.14, among others. Meanwhile, Querétaro ranks nationally as one of the leading industrial markets, accounting for 8% of the national inventory.

Finally, the state had a vacancy rate of around 5% as of the second quarter of the year, which is close to the national rate of 5.2%.