In this context, the acquisition of Building “01” in Deer Park at Cueros de Venados stands out. The property is currently fully available, with a base rental price of $9.15 per square meter plus additional operating costs, including taxes, insurance, and maintenance (NNN).

Its design, particularly its 9.14-meter clear height, 1,500 KVA electrical capacity, 16 dock doors, two ramps, fire protection system, and skylights optimizing natural lighting, positions it as a property suited for light manufacturing and assembly rather than high-volume storage. Its location reinforces this focus: less than 30 minutes from the San Ysidro-Otay border crossing, it facilitates the export of finished goods and the supply chain for raw materials, aligning with the dominant industrial profile of the region.

For RMSG, this acquisition is a calculated bet to capture demand continuing to shift toward Mexico due to the global reorganization of manufacturing supply chains, despite trade tensions in North America.

At the same time, the transaction represents a capital restructuring for UL Baja, as the developer is currently building the Venados II Industrial Park, located one kilometer from Deer Park. This project includes the development of two properties: the first, spanning 16,300 square meters, is expected to be delivered in the second quarter of 2025, while the second, covering 14,700 square meters, could be completed by late 2026.

While Deer Park represents a bet on Tijuana’s industrial dynamism, Building “01” in Parque Industrial Colinas follows a different logic. At 7,600 square meters of GLA, it is not a recent addition to the local inventory but rather an established asset with a relatively stable rental profile within the market.

Located in El Florido, this property was introduced to the market nearly 25 years ago and has primarily served as a light manufacturing space. Built on-site with concrete panels, it differs from newer developments, and its infrastructure is tailored for storage and distribution operations. It features five dock doors, one ramp, a sprinkler-based fire protection system, and a 2,000 KVA electrical capacity, supporting processes that require stable infrastructure without being focused on intensive manufacturing.

Until a year ago, the property was occupied by Jeld-Wen, a U.S.-based company specializing in high-performance doors and windows. Despite its vacancy, demand for this property has remained considerable, partly due to its location, just 12.7 kilometers from Tijuana International Airport, which facilitates its integration into regional and international supply chains. Additionally, in terms of profitability, the property has a base rental price of approximately $8.40 per square meter plus NNN operating costs, which, according to SiiLA, keeps it competitive in a market where the average rental price stands at $8.50 per square meter.

Overall, Deer Park and Colinas reflect both investor confidence and the strategic adjustments shaping Tijuana’s industrial sector. For more insights on tenant movements in Mexico’s industrial real estate market, visit SiiLA REsource or contact us at contacto@siila.com.mx.