The closing of 2022 maintained the strong pressure of the gross industrial demand that was generated in 2021 in the Tijuana industrial market, although the figures for the end of 2022 failed to exceed what was registered in the previous year.

However, if we analyze the net industrial demand for 2022, which includes vacant spaces and totaled 370,000 square meters, the figures are close to those registered in 2019, the period prior to the pandemic.

Tijuana, like Ciudad Juárez, Reynosa, Mexicali y Tecate, have been exposed to the search for industrial spaces that American and Asian companies have generated by moving part of their productions from Asia to border areas with the United States.

Consult here: For the second consecutive year, Monterrey led the industrial demand in Mexico

In turn, the industrial constructions in the entity close the year with 488,000 square meters of industrial buildings advancing, which represents an additional 12% to what was under construction at the end of 2021. But despite the fact that the constructive impulse has maintained, the fact that it cannot meet demand has generated a market situation where vacancies have fallen sharply during the first three quarters of the year.

A phenomenon that occurred in this market has to do with the proportion of speculative demand that in the total for 2022 represents 84%, which has affected the brake shown by the vacancy curve. This indicator reached its lowest level in September 2022 with 0.41% and from there it has reversed the downward trend and slowly increased until closing at 0.8% at the end of 2022.

Another indicator affected by the aforementioned dynamics is the rental price that closes in 4Q 2022 at $7.0 dollars per monthly square meter, on average. The rental price has increased at a rate of 16% per year, similar to that registered in Ciudad Juárez, in turn this rental price is lower than that reported by other markets on the northern border such as Reynosa with 34%, Mexicali with 22.7% , Monterrey with 19.5% and Saltillo with 18.8%.

Of interest: Unstoppable industrial demand in Mexico, reported historic levels during 2022

Of the rents that materialized in the fourth quarter of 2022, the average rental price in the El Florido-Boulevar 2000 submarketr eached $7.75 dollars per monthly square meter, while the Pacifico-Nordika corridor closed with average rents of $6.6 dollars per month. square meter month

The determining factor in this increase in income is the almost zero vacancy, sustained demand numbers and the scarcity of land with an industrial vocation. S

everal developers of industrial parks agree that throughout 2022 they have made greater initial investments that involve leveling the land, providing infrastructure for electricity supply, provision of white water, and disposal of sewage and wastewater. which produces a higher unit cost of the land, which is the starting point for later building the industrial warehouse.

In 2023, developers face the challenge of completing the projects they are starting on time and at cost, and during the first quarters of the year the speed of response to the start of speculative works will be the key to containing a further increase in rental prices.