Over the past three years, Monterrey’s industrial real estate market has experienced accelerated growth in inventory, driven by strong demand for industrial facilities from foreign companies attracted by nearshoring and the advantages offered by trade agreements such as the USMCA.
Monterrey is now the largest industrial real estate market in the country, surpassing Mexico City, which held the top position until last year. As of the first quarter of 2025, Monterrey closed with an inventory of 197.3 million square feet (ft²).
Between 2022 and 1Q 2025, Monterrey added 56 million ft² of leasable area to its inventory — double the total inventory of secondary markets like Chihuahua, Puebla, and Aguascalientes. In other words, in just three years, Monterrey has built more than twice the total inventory of these markets.
Nearly 30% of Monterrey’s inventory growth was concentrated among five companies — three developers and two end users that acquired land to build their plants. These five companies accounted for 15.8 million ft² through build-to-own (BTO), speculative buildings, and build-to-suit (BTS) projects.
VYNMSA, FINSA, and Vesta: The Developers with the Most Construction Activity
VYNMSA, FINSA, and Vesta were the developers with the highest number of constructions starts between 2022 and the first quarter of 2025. Together, they accounted for over 11 million ft², distributed among speculative space (82%), build-to-suit (BTS) for lease (11%), and BTS for sale (7%).
VYNMSA led the way with 6.4 million ft² of construction starts, mainly in the Apodaca and Santa Catarina corridors. The industrial park with the most development was VYNMSA Apodaca Industrial Park.
FINSA built 2.7 million ft² in Santa Catarina and Guadalupe corridors, with the largest amount of industrial space added at FINSA Santa Catarina Industrial Park.
Vesta began construction on 2.4 million ft², exclusively within Vesta Park Apodaca complex, located in the corridor of the same name.
Volvo and Man Wah Build Massive Plants in Monterrey
In addition to developers, two companies acquired land to build their own plants in Monterrey: Chinese furniture manufacturer Man Wah Holding and Swedish vehicle manufacturer Volvo.
Together, these companies added over 4 million ft² to the industrial inventory. In 2022, Man Wah began construction of its plant in Hofusan Industrial Park, located in Salinas Victoria corridor, while Volvo began construction in 2024 of a stand-alone facility in Ciénega de Flores.
There remains strong interest in securing industrial space in Monterrey, driven by its geographic advantages, skilled labor force, and supplier network. Therefore, continued growth is likely—although commercial conditions could slow down the pace.
To learn more about Monterrey’s industrial real estate market, inventory, and construction starts, explore the tools available on Datoz’s platform. If you’re not yet a client, request a demo.
