Tijuana continues to be the most active market on the Mexican border if measured by the accumulated demand between January and August 2023, which reports 404 thousand square meters, followed by Ciudad Juárez and Mexicali with 307 and 142 thousand square meters.

If we measure the performance on the net demand indicator, the figure recorded during the first two quarters of 2023, of 254 thousand square meters, exceeds that reported in the same period of 2022 by more than 20%.

Check here: New industrial offer How has it impacted vacancies in 2023?

This growing behavior in gross demand has awakened the activity of developers who are advancing with a level of construction that almost reaches 600 thousand square meters at the end of August 2023, only surpassed by Monterrey.

Only in the second quarter of 2023, 70% of the warehouses that are built in this market correspond to the speculative modality, and it is this trend that has allowed the vacancy to be close to 1% at the end of August 2023 when it had arrived in previous months to less than half a percentage point.

Just over a dozen of the warehouses being built correspond to large areas of over 20 thousand square meters where more than half of the building projects are concentrated. The maximum area under construction is 43 thousand square meters and belongs to a custom-made project for a medical company located on the El Florido-Boulevard 2000 submarket.

Tijuana, due to its proximity to the border with the United States and the very competitive costs in labor and construction, have favored the installation of pharmaceutical companies, clinics, offices and various uses that complement the health sector.

The demand has been so constant that not only industrial properties benefit from it but also part of the corporate inventories that can be transformed into uses for consultation and therapy rooms, which allows Tijuana to be strengthened with the profile of medical tourism.

Of interest: Decline in CDMX industrial vacancies persists during September 2023

Tijuana is and will continue to set the standard as one of the most attractive markets for investment trusts and developers, where the highest average price nationwide is recorded with $7.9 dollars per square meter monthly at the end of August 2023.

It is also one of the markets where there is varied competition to generate the most modern and competitive industrial real estate spaces, which affects the strong growth slope that the industrial inventory has developed of more than 25% in the last five years.