July 7, 2017
CBRE’s Q2 2017 industrial reports for sister cities El Paso, TX and Cuidad Juarez, Chihuahua in Mexico mirrored one another, boasting low vacancies, strong demand and shrinking supply. El Paso’s 7.9% vacancy went hand-in-hand with a 535,171-square-foot net absorption. Meanwhile, in Juarez, vacancy was 4.6%, and net absorption stood at 469,899.
Christian Perez Giese, CBRE El Paso’s Senior Vice President and Director, noted that it’s becoming a challenge to find space, especially space less than 100,000 square feet. “We will need to see some new speculative construction soon, as we are quickly running out of space for new tenants, or those that need to grow,” he said.
Meanwhile, First Vice President Andres Sandoval, who is also in El Paso, said that owners and occupiers of Juarez’s space have not been deterred from development. “Several new speculative buildings are set to begin construction in the third quarter,” he added.
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