Tijuana continues to experience a significant expansion for the office market, proof of this is the constant increase in its inventory which has increased annually by 5.19%; of the monitored markets it is the third market with growth greater than 5%.

Of interest: Solili Office Report July 2024: accumulated demand from January to July reaches 472 thousand m²

The demand for this market has shown a mixed behavior throughout the year, with a relatively low vacancy rate which suggests a high occupancy of available spaces.

As part of the demand, developers and investors continue to bet, although cautiously, on the construction of corporate spaces, and as of today there are 7 developments that would be increasing the office inventory by 17%, which is 61 thousand more square meters to the Tijuana market.

Check here: Juriquilla corporate submarket concentrates office leasing in Querétaro

Of these developments, 6 are classified as class A buildings with 51 thousand square meters of a rentable area and one as class B with approximately 9 thousand square meters; the key submarket with 5 developments continues to be Zona Río, also known as the Golden Zone of Tijuana, and one in the Vía Rápida and Agua Caliente submarkets, respectively.

These corporate projects are driven by a market with demand for modern, well-located properties, in mixed spaces and with a market price that has been stable.