The industrial real estate market in Reynosa has been advancing consistently during the first three quarters of 2022, where gross absorption for the period already exceeds 290 thousand square meters, reflecting an increase of 42% compared to the same period in 2021.

Likewise, construction has reached a historical maximum with 318 thousand square meters, a figure that is 2.2 times higher than what was being built a year ago in this market.

The dynamism of construction seeks to satisfy the growing demand of this border market where companies already established in the region expand their operations and along with other new investments that land in the entity, they incline their preference towards custom-made projects or BTS whose specifications fully meet the demands that their production processes entail.

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The proportion of custom projects exceeds three quarters of the works in progress and involves the development of new industrial inventory that is located in the size range of 9 to 67 thousand square meters, the latter being the project with the largest area involved and that will be destined for the logistic turn. Another relevant fact is that the number of BTS projects doubles the number of speculative projects.

However, speculative constructions have been gaining a share of the total works in process, concentrating almost a quarter of the total areas by the end of the third quarter of 2022 and in this case the speculative surfaces range from 9 to 26 thousand square meters.

Even in the midst of this important boost in construction and where more than half a dozen institutional developers participate, vacancy does not give up ground and registers 1.5% at the end of 3Q 2022, a figure that has decreased by just over that same percentage in the last year.

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As an immediate consequence of the high participation of the BTS both in gross demand and in constructions, together with the impact of inflation on construction costs, the increase in rental prices is derived, which since the beginning of 2022 registers an increase of 19% closing the quarter with an average rental price of $4.31 dollars per square meter per month. This rental price is very similar to those registered in markets such as Querétaro, Saltillo, San Luis Potosí y Tecate..

The Poniente and Aeropuerto-Puente Pharr corridors continue to be at the forefront of developers' preferences and it is there where 100% of the constructions are progressing in a market with low vacancy where we can expect a much more active end of the year, which will allow Reynosa to maintain the seventh position in construction very close to the volume that is built in Saltillo and Guanajuato.