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Investors expand industrial spaces in the Bajío

Investors expand industrial spaces in the Bajío

National and international players who arrived in the Bajío several years ago are deciding to expand their industrial spaces; some came to Guanajuato and spread to Querétaro and vice versa.

According to Claudio Brehm González, an industrial broker at Colliers International, in the first quarter of the year, the growth dynamic in the construction of square meters of industrial spaces in the region was maintained, driven mainly by the aeronautical, logistics, and automotive sectors.

Although cautiously, developers have started or are about to create projects, mainly in the corridors of Querétaro and the Querétaro Intercontinental Airport (AQI) towards Mexico City; and from León to Queretaro territory, as well as in San Miguel de Allende, in the state of Guanajuato.

Claudio Brehm explained that the investment in the development of warehouses and industrial parks is maintained, mainly for Tier 1 and Tier 2 companies, both for end customers, as well as for speculation and leasing, and the arrival of Toyota will benefit the activity.

He commented that the developers decided with more caution, and others reduced the square meters of investment, although they continue to invest and build industrial real estate spaces.

In some cases, they even build ships; before finishing them, they already have clients interested in acquiring them.

He said that investment in developing industrial parks and warehouses is maintained, mainly for Tier 1 and Tier 2 companies, for end customers, such as for speculation and leasing.

An absorption of spaces of 3 percent is estimated in Querétaro and Guanajuato, similar to last year’s figure.

In Querétaro, there are 270 thousand square meters of industrial spaces available, and 370 thousand in Guanajuato (class A and B)

In addition, it is estimated that the start of operations of Toyota in Apaseo el Alto will benefit this activity since there is already interest in the immediate area to develop industrial projects.

Brehm Gonzalez reported that Querétaro and Guanajuato closed 2018 well in terms of industrial market movement. In the last quarter of last year, there were 400 thousand square meters in Querétaro and 300 thousand square meters under construction in Guanajuato.

In the last quarter of last year, there were 400 thousand square meters in Querétaro and 300 thousand square meters under construction in Guanajuato.

He mentioned that industrial parks are growing, which is a good sign for the dynamics of this market in the short and medium terms.

Bajío contributes 14% of the production value in construction

In March 2019, the Bajío states represented 14.1 percent of the production value of construction companies in the country, reported the National Institute of Statistics and Geography (INEGI).

According to the results of the National Survey of Construction Companies (ENEC), carried out by the agency, in the third month of the year, Aguascalientes represented 1.9 percent of the production value of the sector; Guanajuato had a 6.3 percent share; Querétaro, 2.8 percent, and San Luis Potosí, 3.1 percent.

Construction works and water, irrigation, and sanitation have the most participation in the region.

Information from INEGI refers that, in the building segment, Aguascalientes represents 2.1 percent, concerning the national total in the said area; Guanajuato, 6.4 percent; Querétaro, 3.1 percent, and San Luis Potosí, 2.6 percent.

Meanwhile, Aguascalientes participated in water, irrigation, and sanitation works with 1.2 percent; Queretaro, 2.2 percent; Guanajuato, 15.1 percent; and San Luis Potosí, 2.4 percent.

In transportation and urbanization, Guanajuato represented 5.9 percent of the total production value of the segment last March; Aguascalientes, 3.4 percent; Querétaro, 3.3 percent; and San Luis Potosí, 5.1 percent.

The INEGI states that, at the national level, the value of production generated by construction companies registered a decrease in real terms of 0.3 percent -based on seasonally adjusted figures- in March 2019, compared to last February; total employed personnel decreased by 1.2 percent, and hours worked fell 1.4 percent.

Meanwhile, real average wages increased by 0.9 percent in their monthly comparison.

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