Tesla Effect: Demand For Industrial Buildings Is Growing In Aguascalientes 

Aguascalientes has positioned itself as one of the most prominent hubs in the automotive sector in Mexico, hosting three major automakers: Nissan, Infiniti, and Mercedes Benz. In addition to these, various supply companies such as Eaton, Bosch, and Sumitomo have also established a presence in the region. 

In the first half of 2023, international companies affiliated with the automotive industry have strengthened their investments in Aguascalientes’ real estate market. This trend is a result of the nearshoring strategy and the entrance of Tesla into the Mexican market, marked by the establishment of a Gigafactory in the industrial real estate market of Monterrey. 

Faced with this scenario, the demand for industrial spaces in Aguascalientes has increased tenfold compared to 2022. Furthermore, in conjunction with these companies, Aguascalientes is on the verge of surpassing the levels of gross absorption (lease and sale transactions) recorded in 2014 when it reached 1.4 million square feet (ft2), the highest figure since Datoz began keeping records. 

From January to October 2023, Aguascalientes accumulated a total gross absorption of 1.2 million ft2, with 68% of this space being sought after by companies in the automotive or auto parts sector, equivalent to nearly 840,000 ft2. It is noteworthy that all transactions were in the form of leases, and the range of leased spaces varied between 120,000 and 178,000 ft2. 

The largest operation involved the Turkish company, MATA Automotive, which leased a speculative building of nearly 178,000 ft2 from Finsa in Finsa Aguascalientes Industrial Park complex, located in South submarket. In this facility, with an investment of almost 20 million dollars, MATA Automotive will manufacture exterior and interior decorative components made of carbon fiber for the electric car company, Tesla. 

These investments serve as a significant boost to the state’s economy since the automotive industry contributes to 19% of the Gross Domestic Product (GDP) and generates approximately 45,000 direct jobs and 120,000 indirect jobs, according to the Department of Economic Development of Aguascalientes. 

For more information on industrial activity in the Aguascalientes market, explore Datoz Analytics 2.0 or request your demo.