Monterrey
Total Stock (million sq. ft.)
104.8
Vacancy Rate
5.7%
Availability Rate
N/A
NNN Lease Rate
US$4.61
Net Absorption (million sq. ft.)
1.4
104.8
Vacancy Rate
5.7%
Availability Rate
N/A
NNN Lease Rate
US$4.61
Net Absorption (million sq. ft.)
1.4
Metro Area Population
4.7 million
Unemployment Rate*
3.5%
Annual Salary - Warehouse
N/A
% of Pop - Associate Degree and Below*
19.7%
% of Pop - Bachelor's Degree and Above
N/A
* Country stat was used as proxy
4.7 million
Unemployment Rate*
3.5%
Annual Salary - Warehouse
N/A
% of Pop - Associate Degree and Below*
19.7%
% of Pop - Bachelor's Degree and Above
N/A
* Country stat was used as proxy
Airport
Monterrey International Airport
Total Cargo (millions of U.S. tons)
N/A
Seaport
N/A
TEU Volume - 2017 (millions)
N/A
Major Highways
Mexican Federal 40, 45, 57
Number of Intermodal Rail Hubs
N/A
Number of Class I Rail Lines
4
What is the term of a typical lease?
3-5 years
How is the rent quoted?
NNN, monthly
What is the tenant's option for termination or break?
Typically, the tenant does not have the right to terminate the lease.
Does the tenant have the option to renew? What is the length of the typical option?
Yes, 3-5 years
How is the rent determined at renewal?
Fair market, 6 months in advance of lease termination
What is the typical rent-free period, if any?
For a 5-year lease, 3 months
What is the typical rent escalation?
CPI or 2.5% fixed annually
Does the tenant have the right to sublet?
Yes
3-5 years
How is the rent quoted?
NNN, monthly
What is the tenant's option for termination or break?
Typically, the tenant does not have the right to terminate the lease.
Does the tenant have the option to renew? What is the length of the typical option?
Yes, 3-5 years
How is the rent determined at renewal?
Fair market, 6 months in advance of lease termination
What is the typical rent-free period, if any?
For a 5-year lease, 3 months
What is the typical rent escalation?
CPI or 2.5% fixed annually
Does the tenant have the right to sublet?
Yes
What is the unit of measurement of a typical lease?
Per sq. ft. per month
Does the leasable area include the common area?
No
Per sq. ft. per month
Does the leasable area include the common area?
No
What is the average rent for a warehouse greater than 50K sq. ft.?
US$0.38 per sq. ft. per month (shell)
What is the average rent for a manufacturing facility greater than 50K sq. ft.?
US$0.45 per sq. ft. per month
Is there a rent review during the lease?
Yes
What are the average service charges (OPEX)?
10% of net rent
Who is responsible for the service charges?
Tenant
What are the average taxes paid on the lease?
16% of net rent
Who is responsible for the property taxes?
Tenant
Who is responsible for the utilities?
Tenant
Who is responsible for the fit-out costs, if any?
Tenant
What is the typical security deposit?
2 months of rent
How is car/truck parking paid?
Included in rent
Any other occupancy costs?
Building insurance, building maintenance
US$0.38 per sq. ft. per month (shell)
What is the average rent for a manufacturing facility greater than 50K sq. ft.?
US$0.45 per sq. ft. per month
Is there a rent review during the lease?
Yes
What are the average service charges (OPEX)?
10% of net rent
Who is responsible for the service charges?
Tenant
What are the average taxes paid on the lease?
16% of net rent
Who is responsible for the property taxes?
Tenant
Who is responsible for the utilities?
Tenant
Who is responsible for the fit-out costs, if any?
Tenant
What is the typical security deposit?
2 months of rent
How is car/truck parking paid?
Included in rent
Any other occupancy costs?
Building insurance, building maintenance
What are typical agency fees? Who pays them?
5% value of contract for first 5 years, 2.5% for 6 to 10 years, paid by landlord
Who is responsible for legal fees?
Each party is responsible for their own legal fees.
Any other transaction costs?
N/A
5% value of contract for first 5 years, 2.5% for 6 to 10 years, paid by landlord
Who is responsible for legal fees?
Each party is responsible for their own legal fees.
Any other transaction costs?
N/A
What is the typical land tenure?
N/A
What is the terminology of the purchase agreement?
Sales & purchase agreement
What is the average cost?
Warehouse: US$50-$60 per sq. ft. Manufacturing: US$60-$80 per sq. ft.
What is the agency fee and who pays?
5% paid by seller
What is the typical LTV?
N/A
What is the average borrowing rate?
N/A
What is the mode of payment?
Cash at closing
What are the average transaction (closing) costs?
3% transfer tax
N/A
What is the terminology of the purchase agreement?
Sales & purchase agreement
What is the average cost?
Warehouse: US$50-$60 per sq. ft. Manufacturing: US$60-$80 per sq. ft.
What is the agency fee and who pays?
5% paid by seller
What is the typical LTV?
N/A
What is the average borrowing rate?
N/A
What is the mode of payment?
Cash at closing
What are the average transaction (closing) costs?
3% transfer tax
What is the average clear ceiling height?
28' - 30'
Average number of dock doors?
4 - 6 docks
Typical column spacing?
50' x 50'
Average parking ratio?
N/A
Sprinkler system?
Extinguishers
What is the typical power supply?
500 KVA transformer including main panel
28' - 30'
Average number of dock doors?
4 - 6 docks
Typical column spacing?
50' x 50'
Average parking ratio?
N/A
Sprinkler system?
Extinguishers
What is the typical power supply?
500 KVA transformer including main panel
Explore More Markets
CBRE Americas Industrial & Logistics Occupier Guide