At the end of the second quarter of 2021, the corporate market in Tijuana continued to show an improvement in its commercial activity, reaching values that were seen at the end of 2019 and the beginning of 2020, that is, in pre-pandemic periods.

During the last three months, 5,000 square meters of net demand were reported, in response to the reopening of offices and the performance of the vaccination plan in Baja California, a state that recently achieved herd immunity in the country.

We must remember that at the beginning of 2021, the city reported 5.4 thousand square meters of net demand, which could be an omen for the remainder of the year where we can expect a recovery in this sector.

The rental transactions were the ones that stood out during the April-June 2021 period, which indicates the confidence that companies have regained when choosing to settle in this border city.

Check here: Residential Market in Tijuana

The offices that were rented have areas between 250 and 350 square meters on average, up to the largest space of 1.3 thousand square meters.

The current average price of $ 19.17 dollars per square meter per month remained at similar levels in relation to that reported at the beginning of the year but reflected an increase of 1.6% when compared to the same quarter of 2020.

Of the current inventory in the city of 267 thousand square meters, 12.3% is vacant for rent or sale. During this quarter, 5 projects continue under construction that would add 29 thousand square meters to the inventory, so it is expected that in the next three years the inventory of this city will grow around 11%.

Of interest: Office market continues despite the pandemic

The city of Tijuana, marked by constant expansion, is moving towards an expansion of its offer of corporate spaces, leaning towards class A buildings and mixed-use buildings that seek to improve the infrastructure of the city while supporting the generation of jobs by reinforcing the interest of foreign investors who are very close in the city of San Diego, United States.