Industrial Park to Be Developed in Juarez
- The Meor Real Estate Fund is allocating 600 million pesos to build the Hubspark Juárez in response to the strong demand for industrial spaces, primarily driven by nearshoring and supply chain relocation.
The strong demand for industrial spaces generated primarily by nearshoring, the relocation of supply chains to countries near the contracting country, has led the Meor Real Estate Fund to allocate 600 million pesos to build the Hubspark Juárez.
According to Jonathan Pomerantz, CFO of Meor, this industrial park will consist of three stages of construction, with the first one scheduled to be completed by April 2023 and the remaining stages to be finished by the end of the same year. The park will cover an area of 85,125 square meters with an approximate construction of 42,799 square meters.
It is designed to accommodate national and international companies in the manufacturing and logistics sectors. It is estimated that this project will generate 1,200 direct jobs for skilled labor, as well as 2,200 indirect jobs.
"Meor is focused on building in the northern border of the country due to the high demand from the industry to acquire new buildings and ensure space availability," emphasized Jonathan Pomerantz.
Pomerantz also mentioned that cities like Ciudad Juárez and Tijuana are sought after by companies for industrial spaces due to their proximity to the US market.
In these areas, there has been a reported shortage of spaces for rental or sale of properties in recent months.
"Despite the challenge of rising construction prices, we do not plan to stop our investment plans in the construction of industrial warehouses. We see optimism in the market demand," stated Pomerantz.
