January 21, 2020
The Texas-Mexico sister cities of El Paso and Ciudad Juarez shared something in common when it came to commercial real estate in 2019. According to metrics from CBRE, both areas closed out the year with record-low vacancies and record-high rents. Both border metros are also experienced robust demand and limited supply in 2019.
If there was any difference in the numbers, it was that absorption in El Paso had a quarter-over-quarter and year-over-year dip in net absorption, but “remained above the 10-year quarterly average,” CBRE analysts commented. Meanwhile, in Juarez, absorption for the entire year was just off the record high reported in 2015.
More supply is anticipated to come to Juarez in 2020, as four new spec projects broke ground in Q4 2019, totaling 672,000. Meanwhile, in El Paso, continued robust demand and scarce supply “will help carry the 2019 trends of falling vacancy and increasing asking rates into 2020,” CBRE analysts said.
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