Mexico State an Industrial Park StateBy Lorenzo Núñez | Mon, 07/12/2021 - 08:30
Due to the recent e-commerce boom that rose as product of the pandemic, and an increase in demand for industrial parks, the cities of Toluca, Cuautitlán, Tultitlán and Tepozotlán remain at the forefront of the industrial park real estate business.
Over the past three years, these cities have risen to the top in regards to industrial real estate. Toluca, for instance, combines the presence of private and public industrial parks. On the private sector, companies such as Prolegis and Parks, which both have national coverage an extensive experience in the market, are the main drivers of the industrial sector, reported by the Real Estate Platform Solili.
According to Solili, as of June 2021, 167.8 thousand square meters are under construction, and there are warehouses available between 2.4 and 23 thousand square meters that are currently undergoing various degrees of progress. Additionally, the construction of other projects would add 50 thousand square meters.
The company Litos is currently investing in Lema Park with close to 60 thousand square meters, and has three warehouses of 12.5, 22.2 and 23 thousand square meters available. Another project, owned by developer Toluca Park II has four industrial warehouses, two existing ones with available space for rent and two others that are about to start construction, where one of the surfaces exceeds 35 thousand square meters. Another leading firm, Prologis, added properties to its portfolio in Prologis Park Toluca II and is expected to increase the supply available in this corridor with innovative and quality products that are commonly found in this market, reported by Solili.
Toluca is not new to industrial construction projects. It was not too long ago when BTS Development started building the Campus Cuautitlán I Industrial Park. It is expected to generate over 450 jobs during its construction phase and will total up to 1,500 once it starts operations, reported by MBN. This industrial park aims to develop the goods and services purchasing industry of the State of Mexico. The project had an investment of over US$50 million with over 91,000 square meters. There have been other major projects in the State of Mexico that have contributed to the e-commerce business economy. For example, the expansion of e-commerce and retail giant Amazon in Mexico with its new logistics center located in Tepozotlán. Another one is Heineken where they made another significant investment in Toluca. With an investment of US$34 million (MX$677 million), to modernize its plant. This investment will upgrade one of the seven production lines of the brewery complex that has existed for decades in the Toluca-Lerma industrial zone.