Mexico REITs: Read-Across from CBRE Mexico Virtual Meeting

研报英文原文证据摘录

Mexico REITs: Read-Across from CBRE Mexico Virtual Meeting

Mexico REITs

25 June 2026 Citi Research

Mexico City remains the strongest market - Mexico City is currently the strongest

industrial market in the country, driven primarily by logistics, e-commerce and last-

mile distribution. Supply remains tight, which continues to support rent growth

despite broader market normalization. Yadira highlighted that CDMX and

Guadalajara have become key logistics hubs as e-commerce penetration continues

to grow and supply chains become more sophisticated. The tight supply-demand

balance in CDMX gives landlords continued pricing power, particularly in well-

located Class A assets.

Monterrey: most affected by uncertainty, but recovery forming - Monterrey has

been the market most affected by trade uncertainty, given its strong exposure to

manufacturing, nearshoring and US-linked industrial demand. However, CBRE

noted early signs of improvement, including a roughly 25% increase in build-to-suit

projects over the past six months. While 2026 is likely to remain a transition year,

CBRE expects Monterrey to recover meaningfully beginning in 2027, once USMCA-

related visibility improves and deferred manufacturing decisions begin to move

forward.

Bajío: gaining relevance from EVs and advanced manufacturing - The Bajío region

is becoming one of the primary beneficiaries of new EV manufacturing and advanced

industrial activity. CBRE noted that the region’s traditional automotive base is

increasingly diversifying into electronics, technology and data center-related

industries. Demand in Bajío is recovering toward pre-pandemic levels, and the

region’s relative competitiveness will increasingly depend on the ability to provide

reliable electricity, water and permitting certainty.