January 11, 2017
Trade between the U.S. and Mexico (and vice versa) through the El Paso-Santa Teresa ports of entry was robust much of last year. The value of goods moving toward Mexico reached $35 billion as of October 2016, a 2.2% increase from the year before, according to CBRE. Insofar as goods coming from Ciudad Juarez into El Paso, total northbound truck crossings, year-to-date, were up 1.5% year-over-year as of July 2016.
As such, it should come as little surprise that the industrial markets on both sides of the border did well in Q4 2016. In El Paso, the market experienced net absorption of 69,908 square feet, and an 8.8% vacancy, what CBRE called “the tightest annual vacancy in the current cycle.”
Across the Rio Grande, Ciudad Juarez enjoyed a record quarter for net absorption at 1.6 million square feet. Market fundamentals remained strong; the metro’s vacancy of 5.8% was below pre-recessionary levels.
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