The industrial markets of Baja California that Solili monitors, made up of Tijuana, Mexicali and Tecate, have managed to reverse the sharp decline in their vacancy percentage during the last year, registered in February 2023 with 1.04%, 3.17% and 0.7%, respectively.

Between January and February, Tijuana managed to register almost 100,000 square meters of gross demand, replicating the good rate of growth that it had the previous year. Only in the first two months of the year it achieved three quarters of what was registered in the first quarter of 2022, so we can anticipate a good quarterly closing.

Of interest: The continuous expansion of companies established in Reynosa sustains industrial demand

This market during 2022 showed a strong inclination for speculative demand that reached 84% and this allowed demand to rise since September 2022 when it registered its lowest level with 0.4%. The reason for the upward adjustment is also associated with the fact that construction has not stopped and 481 thousand square meters are still advancing, which allows more areas to be available during February 2023 than those that existed a year ago. This does not mean that the demand maintains a healthy percentage because it is still around 1% and it does not seem to be enough to meet the large number of requests for industrial spaces that this market registers.

Throughout 2022, Mexicali registered close to 44% of speculative demand, presenting a vacancy rate of 3.17% at the end of February 2023, which is 1.6 percentage points higher than what was registered in February 2022. This border market achieved In the first two months of the year, the completion of 58,000 square meters of works that fed the inventory and started 80,000 square meters of new industrial buildings, a pace that allows it to reach an upward slope in the demand indicator, during the last 8 months.

Consult here: Sky Bridge Industrial Park begins construction in Sonora

Tecate which together with Rosarito has been benefiting from the unsatisfied demand in Tijuana, forms the natural growth zone of this market on the western border.

Tecate for two consecutive years has been adjusting its vacancy upwards by 60 basis points. Vacancy has remained practically constant in the last year, with the Baja California market having the most critical vacancy level, slightly above half a percentage point.

Demand behavior trends indicate that towards the end of 1Q 2023 these markets will continue to receive various requests for new spaces for companies that have just entered Baja California or others that are planning their expansion. The health, electronics, furniture, automotive and packaging sectors will continue to compete for the best located spaces and with the most modern equipment.