During the first months of 2021, the demand figure for corporate spaces in Tijuana has been mainly driven by the acquisition of offices in pre-sale, which means that mostly it is betting on developments near the completion of works and for sale.

The demand for spaces reported during the period from January to March 2021 was 1,829 square meters, with spaces of average size of 141 square meters. 80% of the demand was concentrated in the Zona Río submarket. The rental price in Tijuana closed at $ 18.78 USD / m2 / month, which positioned the city within the corporate markets with the highest price nationwide.

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Although it is true that the purchase of offices has boosted this market, we are facing a process of maturity of this, since some of the main projects that are currently under construction, will have the exclusive commercialization for rent as their purpose.

The spaces for sale within the offer in Tijuana, have dimensions that range between 400 and 800 square meters and are located mainly in the submarket of Zona Río.

Currently in the market there are 37 thousand square meters under construction, in which there are still spaces available for sale and can be purchased from half floors from 250 square meters, to complete floors of 800 square meters.

At the end of March, the reported vacancy was 38 thousand square meters, one of the lowest figures nationwide, however it is expected that with the buildings that finish construction and are incorporated as a new offer, this indicator will increase.

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Query: Tijuana Offices Report April 2021