Reynosa has been one of the northern border markets that has maintained significant dynamism in terms of gross demand during the first two quarters of 2022, with growth of 31% for the first quarter of the year, and 18% in the second quarter of 2022.

When analyzing the distribution of its inventory, the Pharr Airport-Bridge submarket stands out by grouping half of the surfaces of the existing industrial buildings and it is where the gross demand has been concentrated, which in those from January to June 2022, reaching 155 thousand square meters.

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This important submarket is developed on the intersection of two important roads such as Federal Highway No. 2 Reynosa-Cd Río Bravo from east to west, and Puente Pharr Avenue from north to south, which leads to the Reynosa customs office.

The Pharr – Reynosa International Bridge highway crosses the Rio Grande River and the border between the United States and Mexico, along its 5 kilometers to its connection with the city of Pharr in Texas, moving both commercial and passenger vehicles.

This submarket currently concentrates 73% of the constructions that advance in this market with little more than 118 thousand square meters and that offer sizes between 9.5 to 67 thousand square meters, this last format corresponding to a logistics operation in the area.

Here, almost 80% are made-to-measure projects combined with the remaining percentage of speculative projects by developers such as Prologis, IGS and Roca Desarrollos.

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Another important market consideration is the low industrial vacancy that, although it averages 1.6% for the entity, reflects percentages even lower than 0.9% for the Puente-Pharr submarket, where only one 8.4 thousand square meter industrial warehouse is available.

On the other hand, rental prices also reflect upward adjustments of 5.4% in annual terms, closing in July 2022 with $3.81 dollars per square meter per month on average, although specifically the Pharr Airport-Puente submarket registered at the end of the second quarter of 2022 a higher amount of $4.84 dollars per square meter per month.

Given the adjustment of rental prices and the contraction of vacancy, we will continue to see in subsequent periods a marked interest in executing new speculative projects in combination with custom orders that could be generated by companies already established in the entity that require expanding their productions or new development of suppliers of inputs and logistics operations to strengthen the storage and distribution of merchandise from Mexico to the United States.