The strong dynamism registered by the industrial real estate segment in Tijuana allowed the inventory of this entity to increase by 4.7% during 2021 and thus manage to reach nearly 7.8 million square meters.

For its part, the gross demand of 770 thousand square meters per year during 2021 placed it in third position at the national level, a figure that exceeded that registered in 2020 by 63%.

Being a city on the border with the United States, it absorbed the direct effects of what was happening in that market, being favored by multiple processes of relocation of operations that previously took place in Asian countries or on American land.

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The disruptions that occurred throughout the world on supply chains allowed markets like Tijuana to take advantage, where the delivery of products that would be manufactured on Mexican soil could be fulfilled in an expedited manner and at reasonable costs.

Tijuana was the market that reached the lowest vacancy levels nationwide until closing with half a percentage point in February 2022. This generated strong pressure on developers and investors who started up 78 thousand square meters of new industrial buildings during the first two months of the year.

All these factors as a whole influenced the rise in rental prices of almost 22% during the last year.

For example, the Pacifico-Nordika submarket registered at the end of 4Q 2021 a rental price of $6.0 dollars per square meter, a figure higher than that registered on the CTT submarkets (Cuautitlán, Tultitlán y Tepotzotlán) with greater demand in Mexico City than they would be moving between $5.4 and $5.8 dollars per square meter per month.

If we compare Tijuana with Monterrey, in the latter entity, the submarket with the greatest activity and which concentrates the largest amount of inventory is Apodaca, which manages rental prices of $4.5 dollars per square meter, well below what is observed in the Tijuana market.

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Real estate developers in the area and local authorities know the advantages of this enclave that borders San Diego in California, a key geographic node for logistics and manufacturing, so they are readying their efforts to leave in 2022 a better infrastructure and connectivity through new connecting roads.

Faced with the quarterly close, it is likely that the rental price will be adjusted upwards since the factors that originated it remain intact and it will be necessary to add the effects that the inflation of direct construction costs is generating specifically, as well as the scarcity of land with infrastructure.