Another of the border markets that has registered significant increases in the rental price is Tecate, which since October 2020 has remained above 4.50 dollars per square meter per month, registering as of September 2021 a starting price of 4.66 dollars per square meter per month.

Tecate registered a positive net demand of more than 29 thousand square meters in 3Q 2021, the highest figure registered during the last three years, since this market has been monitored.

The first two quarters of 2021 this indicator had been negative, a sign that shows that vacancy exceeded gross demand.

Check here: Northern markets account for 67% of the demand for space in Mexico

For the penultimate quarter of 2021 in Tecate there was no great movement reflecting a gross demand of 14 thousand square meters, being 5.8% lower than the previous quarter and staying within the same figures that it presented during the same period of 2020.

During the period, only one class A building was delivered in the Tecate-Tijuana corridor of 15 thousand square meters and construction activity was also slowed down since the start of new construction has not been presented.

The vacancy rate decreased 2.4 percentage units compared to the previous quarter, the drop in vacant space is due to the fact that the market has not presented vacancies of industrial spaces during the 3Q of 2021, as well as the growing interest on the part of companies in the border cities.

Of interest: New industrial park begins construction in Tamaulipas with 70 hectares

Tecate together with Chihuahua make up the smallest industrial markets that Solili monitors, although the volume of its industrial constructions represents at the end of 3Q 2021 close to 5% of its estimated market size of 611 thousand square meters.

By the end of the year and the first semester of 2022, we could expect that the gross demand will be activated, derived from its border condition and the neighborhood with Tijuana, which is already depleting the available inventories