February 6, 2024 | #DatozByDatoz
In the last five years, the industrial corridor of El Salto has been key to the consolidation of the industrial real estate market in Guadalajara. This is because it has leveraged its industrial vocation, which began with Río Grande factory; its strategic location, being close to the state capital, and having road and railway infrastructure. Overall, El Salto is the most dynamic industrial corridor in Guadalajara.
This is attractive for electronics companies and warehouse and logistics services, including e-commerce, as they are the ones that have demanded the most space in El Salto. This has triggered the accelerated growth of this industrial corridor in terms of inventory and gross absorption.
From 2020 to 2023, this corridor experienced a growth of 47% in its gross leasable area (GLA), increasing from 18.2 million ft2 to 26.8 million ft2. Additionally, the share of inventory within Guadalajara market rose from 35% in 2020 to 43% in 2023, establishing itself as the largest industrial corridor in this market, according to information from Datoz’s Analytics 2.0.
Regarding the demand for industrial spaces, since 2020, El Salto has maintained a gross absorption of over 2 million ft2, concentrating more than 50% of the total demand in Guadalajara’s market. However, in 2023, its share increased to 86%, with 3.4 million ft2 out of the total of 3.9 million ft2 in Guadalajara.
The highest demand for industrial space came from electronics companies, which corresponds to Guadalajara positioning itself as a technological and electronic hub. In El Salto, the Irish software development specialist company, Aptiv, and the Chinese company Foxconn absorbed 1.1 million ft2, accounting for 34% of the total gross absorption of the corridor.
Despite these absorption levels, the availability in El Salto is high, totaling 2.3 million ft2, with an availability rate of 8.75%. This is due to the strong speculative construction starts recorded during 2022 and 2023. In 2023 alone, it reached 2.7 million ft2 of speculative building construction starts by developers such as Finsa, Grupo Favier, American Industries, Roca Desarrollos.
For more information, please consult Analytics 2.0 or request a demo.