The industrial market of Reynosa recorded significant growth in gross demand during the first quarter of the year, accumulating 115,000 square meters. In turn, during the months of April and May 2023 we saw the completion of 17,000 square meters of industrial buildings that entered the inventory, while a similar amount saw construction begin so far in the second quarter of 2023.

Already in the last quarter of 2022, significant construction activity was observed where the total number of warehouses in process reached 346,000 square meters, although a significant number were speculative projects that managed to be negotiated before their settlement, which is why they entered the inventory occupied.

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Part of the interest of this market lies in its connectivity, where three international bridges are located together with a network of strategic highway accesses that position it as the most developed city in the state of Tamaulipas.

When consulting the Solili real estate platform at the end of June 2023, there are half a dozen warehouses under construction whose sizes range from 2.5 to 26 thousand square meters grouped into 7 buildings still available. The rest of the projects under construction correspond to expansions of companies already installed in the region, or to buildings that are built to measure. All the projects are estimated to be completed no later than the third quarter of the year,

If Tijuana and Ciudad Juárez were the most active border markets during the last quarters of 2022, reaching vacancy levels well below 1%, projections indicate that Reynosa could also capitalize part of the interest in the remainder of 2023.

This market has registered significant increases in the average rental price in industrial buildings of more than 30% in annual terms to close in May 2023 at $5.27 dollars per square meter per month.

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Currently, the average rental price in Reynosa is much lower than those registered by Tijuana and Ciudad Juárez if we compare warehouses that could be built with similar construction quality and where the difference would be marked by the price of industrial land. With these possibilities, the industrial market of Reynosa could detonate significant levels of gross demand towards the end of 2023, mainly concentrated in expansions.

The authorities' ability to manage the availability of industrial infrastructure, working together with the main developers in the area, is key to boosting industrial development in the coming quarters.