The industrial market of Mexicali has reported a growth in its industrial inventory of 13.5% in the last two years as a result of the significant pace of construction carried out by developers who have made their bet in this border city.

Thesubmarket that presented the greatest increase in inventory was the Mexicali-San Luis Río Colorado Highway, with 83% of the space that was delivered during the quarter.

We were able to observe at the end of the third quarter of the year a rebound in gross absorption from the one that closed the period with more than 100,000 square meters, showing an increase of 170% quarterly and 276% compared to the previous year.

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Demand was driven by warehousing and logistics, electronics, the textile industry, solar energy, and machinery and equipment manufacturing.

89% of the leased space was concentrated in 4 projects tailored to BTS. The rest of the demand given in speculative spaces occurred in buildings of small dimensions ranging from 1.1 to 5.5 thousand square meters.

During this period, construction was very active since 6 new industrial buildings were started for a total of 111.5 thousand square meters, where most are works classified as Class A.

This detonation of new buildings was driven mainly by BTS spaces representing 73% of new buildings.

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On the other hand, a dozen industrial buildings completed construction in the period and add to the inventory of this city about 140 thousand square meters. The main characteristic of this new offer is that it is almost entirely already occupied, which affects the result of the vacancy that closes the month of September 2021 with 2.9%.

Another phenomenon observed in the entity is that the net absorption of just over 84 thousand square meters has been the highest in the last three years, signaling the strong pressure exerted by demand.

This set of indicators indicates an important commercial opportunity in the remainder of the year and the first semester of 2022, where the vacancy may be adjusted downwards, which in turn will affect a possible increase in rental prices, which closed the quarter with 4.70 dollars per square meter per month.