Tijuana has the potential to develop office projects given the scarce supply
Solili | April 18, 2023 |

The Tijuana market, due to its status as the most active Mexican border with the United States, has been able to capitalize on the inflow of investments that seek to settle in the region and thus take advantage of costs and proximity to the largest source of demand on the American continent.

Demand for industrial, commercial, residential and office space has outpaced supply, leading to historically low vacancy in nearly all of these segments. The corporate market has been proof of this and has managed to exceed 17,000 square meters of gross demand.

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Also the corporate net demand, which includes the offices that are vacated in the period, have managed to reach the highest figures that this market had registered in the second quarter of 2018 in the order of 15 thousand square meters.

Tijuana has been the only corporate market that has maintained positive net absorption over time, even during the pandemic, and the fact that projects have not been started as registered during 2018 and 2019 has influenced the sharp contraction in vacancy that at the end of the year first quarter of the year reported 1.7%.

The annual decline of 8 percentage points has been the most marked at the national level in the last four years. While there are no offices available on the Vía Rápida submarket, the low vacancy is located on Zona Rio and Agua Caliente.

If at this moment a tenant were looking for a space for rent, there would be less than twenty options between 84 and 2.6 thousand square meters, the latter being the largest area included in a project under construction that plans its settlement in 2023.

The Solili platform was recently registered at the start of the Ovva project, which is being built on Zona Rio, one of the most attractive submarkets in this market. 

The mixed-use project combines offices that will sell 12,000 square meters of net rentable area, with spaces ranging from 33 square meters to complete floors of 612 square meters.

Of interest: Conditions that attract users to corporate offices and coworkings

The master plan of the project further integrates residential and commercial uses creating a unique environment for all owners and tenants of the place. To differentiate itself from other labor concepts, the project incorporates amenities, such as: Outdoor work, business lounge, Co-Work, a pantry bar and different meeting rooms that create a flexible experience for users,

Prospecting in industrial demand with the advancement of more than 540,000 square meters in new industrial buildings will promote the development of more office spaces and mainly under the modality of mixed uses that have proven to be the big winners both in times of crisis and crisis. Bonanzas, because they diversify the risk and create more favorable conditions for a balance in the work and personal life of those responsible for the office

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