The northern markets have been standing out in the main real estate indicators at the end of the second quarter of the year, accumulating 70% of the constructions in process and almost 60% of the gross demand. A market that in the north has been advancing and generating important opportunities for its development is Reynosa.

In Reynosa, 228,000 square meters are built at the end of 2Q 2023 and ranks fifth out of the eight markets that Solili monitors in the north of the country, where Monterrey, Tijuana, Saltillo and Ciudad Juárez surpass it.

Check here: National industrial inventory continues to expand during 2023

Currently, the West corridor concentrates 65% of the new industrial buildings being built, while the Airport-Puente Pharr and South submarkets have the remaining percentage.

Vacancy at the end of July 2023 is less than 1% and has been maintaining the downward adjustment trend that is projected to continue for the rest of the year. In turn, the increase in rental prices above the national average and which exceeds 35% per year create a margin of opportunity for developers who plan to increase their presence in the northern strip of the country.

At the end of July 2023, about a dozen warehouses ranging from 2.8 to 26,000 square meters are available for those tenants looking to expand or settle in the entity for the first time. Institutional developers who have portfolios established in Tijuana and Ciudad Juárez evaluate the performance of this market to evaluate the possibility of expanding their presence on the border.

Of interest: Industrial construction in Saltillo reaches the highest level recorded in the last 5 years

In the first quarter of the year, net demand, which incorporates vacancy, exceeded 115,000 square meters and set a record figure compared to the past quarters.

For its part, in July 2023 gross demand registered 17,000 square meters and close to 6,000 square meters of industrial buildings were incorporated into the inventory.

With an average rental price difference of $1.9 dollars per square meter below Tijuana, and $0.9 dollars per square meter with Ciudad Juárez, there is an interesting margin to undertake new industrial projects that guarantee an opportunity for the future.