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Home » CBRE Research: a record quarter for net absorption in Cd. Juarez industrial mark; 2016 closes strong
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CBRE Research: a record quarter for net absorption in Cd. Juarez industrial mark; 2016 closes strong

January 10, 2017
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CBRE has released the Q4 2016 Cd. Juarez Industrial MarketView, which is available for download at cbre.com/researchgateway. Below is a summary of key Q4 highlights.

Absorption: Q4 2016 registered the largest quarter of net absorption since 2007. 2016 marked the third largest annual net gain for the same time period.

Automotive manufacturing: As of October 2016, Mexico's year-to-date light auto output reached 2.9 million. This is 0.9% higher compared to the same period in the record setting year of 2015. The production statistic will likely increase going forward as Toyota brakes ground on its new $1 billion factory in Guanajuato and several automotive component manufacturing companies announced new operations throughout Mexico. Total light vehicle sales in the U.S. reached 17.9 million year-to-date in October, down 1.1% from October 2015 which had one of the highest sales levels in the current cycle.

Rental rates: The industrial market-wide average asking lease rate remained relatively unchanged in Q4 2016 with a small decrease of $0.03 per sq. ft. compared to Q3 2016. Annually, the market average rate remained flat, decreasing by $0.02 or 0.4%. It is important to note that the combined current Class B and Class C vacancies make up 74.0% of all existing available space and are acting as a drag to the robust Class A sector which is fast approaching its previous high of $5.10 per sq. ft.

Construction: Given the four reported deliveries construction projects in Q4 2016, space under construction decreased 45.0% compared to last quarter with two new project starts this quarter. By the close of Q4 2016, there was approximately 812,500 sq. ft. of industrial space under construction of which 50.0% is expected to be delivered occupied. CBRE Research is also closely tracking a handful of planned projects, both build-to-suit and speculative. Some of these are expected to start by Q2 2017.

To learn more about CBRE Research, or to access additional research reports, please visit the Global Research Gateway at www.cbre.com/researchgateway.

More Info: http://www.cbre.com/researchgateway

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