The industrial real estate market in Tijuana reported an annual growth of 43 percent during the last quarter of 2020, which puts it in accordance with the figures obtained in the previous quarterly reports.

During the fourth quarter of last year, the arrival of various companies from the logistics sector, the medical, food, metalworking industries and a considerable reactivation of the manufacturing sector took place.

Gross demand ended the quarter with a total of 1.4 million square feet, with the leasing of class A buildings in the Otay-Alamar corridor that concentrated the most activity in a single transaction with 44 percent.

Construction activity closed 2020 with a total of 12 industrial warehouses under construction totaling 1.65 million square feet, presenting an annual decrease of 29%. During the period, only 3 buildings began work, two of them speculative projects and one made to measure.

Despite the low availability in the market, developers continue to wait for the detonation of new projects.

The average monthly market price remains unchanged compared to the previous quarter, standing at 0.46 dollars per square foot ($ 0.46 USD / p² / month), due to the fact that most of the spaces leased during the quarter were above the average price of However, the indicator presented an annual increase of 4.6%.

The increase in prices is due to the dynamism of demand and the scarce availability in the market, which continues to push prices up.

The vacancy rate reported an annual increase of 20 basis points compared to the same period of the previous year, however, it continues to be the lowest nationwide. Currently there are 4 buildings in sublet status of which 2 are classified as class A.