At the close of the third quarter of 2026, Tijuana recorded a vacancy rate of 6.2%, ranking as the second corporate market with the lowest availability nationwide, behind only León, Guanajuato, at 5.4%. On a year-over-year basis, the border city’s vacant space decreased by approximately 3 thousand square meters, reflected in a 20-basis-point reduction in the vacancy rate.

Meanwhile, the development of new office projects remains contained. Vertical real estate activity has been oriented mainly toward residential, mixed-use, and medical services developments, while the expansion of corporate inventory continues at a conservative pace.

Of interest: Office Report: Solili | Third Quarter 2026

At the close of the third quarter of 2026, Tijuana’s corporate market recorded 76 thousand square meters of office space under construction, its highest level on record. However, despite the city’s accelerated vertical growth, real estate development has been oriented mainly toward residential projects, medical towers, retail spaces, and mixed-use complexes, while no new office construction starts have been recorded during the year. Construction activity is concentrated in the city’s two main business districts: Agua Caliente, which accounts for 52% of the space under construction, and Zona Río, with 40%. In terms of class composition, developments are primarily geared toward Class A corporate space, with the exception of Zona Río, where approximately 10 thousand square meters of Class B offices are also under construction.

On the demand side, cumulative gross absorption from January to September 2026 reached 18 thousand square meters, four times the amount recorded in the same period of 2025. However, at the close of the third quarter, leasing totaled 1.1 thousand square meters, showing a slowdown in the pace of occupancy for three consecutive quarters.

For its part, the average asking rent stood at $21.17 USD/sqm/month at the end of September, reflecting a year-over-year decrease of 4.2%. Despite this adjustment, Tijuana remained the market with the second-highest rental prices in the country, standing 2.0% above the national average of $20.75 USD/sqm/month. By submarket, Vía Rápida recorded the highest average asking rent at $21.60 USD/sqm/month, followed by Zona Río at $21.10 USD/sqm/month and Agua Caliente at $20.43 USD/sqm/month.

See here: Office Vacancy Rate in Puebla Declines to 19.1% at the Close of August 2026

The combination of high rental prices, low vacancy, and outstanding demand performance during 2026 reinforces Tijuana’s appeal for new investment in corporate space. These conditions, together with the city’s vertical growth, open opportunities to expand and diversify the office supply in response to the needs of a market with limited space availability.