In 2022, an industrial park in Queretaro will be a strategic destination for national and foreign investment in the industrial real estate sector.
In this article, we will review some of the reasons behind this phenomenon and how locating in industrial parks in Queretaro can benefit companies that are either starting operations or are in the midst of expansion.
Status of industrial parks in Mexico
In 2020 and 2021, several industries suffered the aftermath of the COVID-19 contingency. However, despite the momentary increase in vacancy figures, there have been years of growth for the industrial park market in Mexico.
As a result of the boom in e-commerce, there is a pressing need for space for the logistics and data centers installation, the need for nearshoring or regional production chains, foreign investment in the northern states, and the relevance of Mexico’s role in the USMCA.In this regard, it is estimated that during the first half of 2020, Mexico’s industrial parks demand increased by 6%1 compared to the previous year, which amounts to 1.6 million square meters. At the same time, construction projects were up 19% at the end of the third quarter, and Mexico City reported a 49% increase in the construction of industrial buildings.
In this sense, the sector’s resilience has been surprising, and Queretaro — which also provides a privileged location in the Bajío Corridor — has been no exception.
Reasons to locate in Queretaro’s industrial parks
Queretaro plays a leading role in the industrial sector. However, as occurred in other areas, in the first quarter of 2021, there was a temporary drop in industrial facility demand.
Even then, there were already prospects for recovery associated with a series of projects in the planning stage. In this context, some of the sectors that opted to set up industrial parks in Queretaro were the automotive, aerospace, and data center sectors.
Despite the uncertainty, investor interest remained strong because of the favorable location, security, and commercial opportunities it provides.
This was reflected in the fact that during the first quarter of 2021, Queretaro registered the highest demand for industrial space in the Bajío corridor, with more than 21,000 m² 2 and a 1% growth in real estate supply.
This expansion has made Queretaro ready to welcome new investors and companies that have chosen an industrial park.
Companies in industrial parks in Queretaro: success case studies
- Swoboda Mechatronics: It is a German company that manufactures electromechanical components. Its project will involve an investment of several million dollars3 and the creation of 400 new jobs.
- ZF: This German company is carrying out an expanding project valued at more than one billion pesos3, intending to increase its workforce by 16.6%, after opening 500 new jobs.
- Bombardier Recreational Products: A Canadian company that proposed to expand its aquatic vehicle factory located in an industrial zone in the north of the state. The project includes a manufacturing technology center, an engine assembly line, a vehicle assembly line, and a recreational area for workers.
- CloudHQ: The U.S data center also confirmed that it would install a $600 million campus that is expected to generate 1,000 skilled jobs.
The success of these companies in the Queretaro industrial parks is no coincidence. That’s why, at Advance Real Estate, we support the growth of companies seeking to start, expand, or move the operation to this strategic location. With this in mind, we have land for Build to Suit projects and industrial buildings for lease in the Industrial Park Advance Queretaro.
Information Source:
- obras.expansion.mx/inmobiliario/…/2020-fue-el-ano-del-desarrollo-inmobiliario-industrial
- wiggot.com/archivos/crece-inventario-de-espacio-industrial-en-queretaro-en-el-1t2021
- www.eleconomista.com.mx/estados/Queretaro-recuperaria-demanda-de-espacio-industrial-a-mitad-de-ano-20210516-0058.html
- www.swoboda.com
- www.solili.mx
- bombardier.com/en
- cloudhq.com
- www.zf.com/mexico/…/company.html
- www.cbre.com.mx/es-mx
