The Mexicali industrial real estate market closed 2021 with more than 280 thousand square meters of gross demand, which represents an increase of 110% compared to 2020, according to figures monitored by Solili.

Part of this growth is explained by its status as a border city with the United States and its proximity to another important Mexican city, such as Tijuana.

Manufacturing and logistics are the triggers that have activated the expansion of real estate activities in the entity whose inventory is 2.96 million square meters.

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Mexicali has positioned itself in recent years as a city with extensive experience and export capacity, where there are more than 190 maquiladora plants that operate in the sectors of: food, automotive, transportation, metalworking, glass containers, electronics, plastic, textile , among others.

The city of Mexicali completed the quarter with a total of just over 50 thousand square meters leased, driven by companies in the logistics business, medical service, the food and beverage industry and the glass industry.

The demand occurred entirely in speculative buildings and in spaces ranging from 1.8 to 8.3 thousand square meters. In the last quarter of the year, a class A industrial warehouse was also completed, adding a little more than 5,000 square meters to the inventory located on the Airport-Garita 2 submarket..

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This market has been showing a significant increase in rental prices close to 23% per year where the vacancy has gone from 3.42% in December 2020 to 1.48% in December 2021, in a scenario where the largest amount of net absorption of the last three years.

The fact that Tijuana, Ciudad Juárez and Mexicali exhibit the lowest vacancies at the national level are precise signs that speculative projects are favored by the boost in demand. Currently availability is very low and only for spaces smaller than 2 thousand square meters.

For their part, developers attentive to these indicators advance with almost 140 thousand square meters of new industrial buildings, of which about 71% are custom-made projects and the remaining 29% are speculative spaces that are currently available for lease.