3 April, 2024 | #DatozByDatoz
The industrial real estate submarket of Tlaxcala, which is considered within Puebla market in Datoz, has seen an interesting demand for industrial buildings in the last three years from both international and national companies, significantly reducing its available industrial space in the first months of 2024.
Tlaxcala has inventory of 8 industrial parks totaling a gross leasable area (GLA) of 5.4 million square feet (ft2). Even though this submarket is small, between 2021 and 2023, it achieved a gross absorption, operations for sale and lease, of 1.05 million ft2 in Vesta Park Tlaxcala, Finsa, and Ciudad Industrial Xicohténcatl complexes.
Although to a lesser extent, nearshoring has also positively impacted Tlaxcala, as companies like the German Kuehnel + Nagel and the French Schneider Electric have strengthened their operations in Tlaxcala, the former for warehouse and logistics activities, while the latter in electrical energy. These companies occupied 40% of the space absorbed in Tlaxcala between 2021 and 2023.
These absorption levels have reduced Tlaxcala’s availability rate by 689 basis points, reaching 2.62% at the end of February 2024, compared to 9.51% at the end of 2020. Nevertheless, Tlaxcala barely has around 140,000 ft2 of available space.
Since 2019, this inventory of industrial buildings in Tlaxcala has remained intact, as there have been no recorded construction starts. However, the demand for buildings and the limited availability could reactivate construction in the coming months. Additionally, the government of Tlaxcala is evaluating the construction of a new industrial park or the expansion of a park within Fideicomiso de Ciudad Industrial Xicohténcatl.