Tijuana Industrial Real Estate

Report
Maquila Properties, Inc
Baja California Real Estate Services
Since 1988
Tijuana Industrial Real Estate
2nd Quarter 2012
Absorption is slowing, What’s next?
May 16th, 2012
©Maquila Properties, Inc.
All rights reserved
Presented by JP de Kervor
www.maquilaproperties.com
(858) 551.8000
Global real estate transaction
volumes are down.
Maquila Properties, Inc
Baja California Real Estate Services
Since 1988
www.maquilaproperties.com
(858) 551.8000
Intraregional Transactoion
volumes are down
Maquila Properties, Inc
Baja California Real Estate Services
Since 1988
www.maquilaproperties.com
(858) 551.8000
Tijuana Market Overall
Maquila Properties, Inc
Baja California Real Estate Services
Since 1988
• Tijuana has about 58 million SF of Industrial Real
Estate of which 8.7 Million SF are vacant.
• Currently available: 154 buildings down from 219
Buildings 18 months ago.
• Vacancy Rate is at 15% down from 16% 6 months
ago down from 18% 18 months ago.
• Absorption is positive– so we are heading in the right
direction - Just not very fast. We only absorbed
8,000 SF 1st quarter 2012
www.maquilaproperties.com
(858) 551.8000
Availability
ZONE #
GRADE
L
/
S
INDUSTRIAL PARK
BUILDING
Availble size
OFFICE AREA
CLEAR HEIGHT
DOCKS
GRADE LEVEL/
RAMP
CONSTRUCTION
DATE
POWER KVAS
Maquila Properties, Inc
..
Baja California Real Estate Services
Since 1988
2
c
L
/
S
Otay, seccion dorada
FORMER HITACHI
429,763
43,095 (2 levels )
8' - 40'
35
10
1985 ?
2,840
2
a
L
Otay Chilpancingo
Chip B001
268,599
23,530
28
34
4
2009
350
2
b-
L
Otay, Bellas Artes
COVIDEN
241,000
40,000
24
14
2
1997
7,000
3
c
S
BLVD FUNDADORES
SCRIPTO TOKAI
230,270
3,875
27 - 17
7
2
1998
3-500 KVAS
a
L
Alamar
Sares
230,000
2,270
28
34
3
2010
1000
2
c
S
OTAY
Tocabi
193,692
14,117
27 - 32
11
2
1987
3500
5
f
1
2
3
4
5
6
BLVD INSURGENTES
N-2
EDIF WALDOS
185,140
20
2012
7
FRONTERA (AMB BLVD
INDUSTRIAL)
84,128
19,067
18 - 26
18
2
1985
El Potrero
T2
171,718
to suit
29
19
4
2008
L
girasol II
planta 2
166,933
1,500
18 - 24
4
1990
4,250
L
Ind. Park Pacifico
R&R Building B
162,050
13,976
22
22
1994 95 / ex y rem.
23002
3 (300 - 500 - 750 )
S
Carret libre a Rosarito
Fetasa Carret libre a Rosarito
157,000
L
/
S
Baja Maq Insurgentes
Kimstar Facility
b-
L
4
a
L
4
b-
3
b-
3000
8
9
10
11
1980+
12
c-
www.maquilaproperties.com
(858) 551.8000
156,636
2,152
24
6
1
1997
3500
4
b-
4
b
L
girasol II
planta 1
144,111
18
LA CAMPIÑA
1,2,3,4, 5 Y 6
140,825
18-24
1992/ 1995/ 2005
7500
69kv transformer
14
2
1000
Maquila Properties, Inc
15
X
Baja California Real Estate Services
Since 1988
1000
4
b
LA CAMPIÑA
7, 8, 9, 10, 11 y 12
132,817
16 - 19
2
5
c
EL FLORIDO
LA PRESA
130,000
20
4
2
b
L
Otay
SanyoMfg
126,823
8,576
19 - 22
5
a
L
Valle bonito
CIENEGA
124,000
925.5
22'
8
4
2008
Blvd 2000
Cpa tij B001
122,801
4,865
28'
10
1
2009
500
36,441
32
2001
3000
16
4
17
1982
2000 kvas / 480 V
kvas / 208 V
500
18
19
a
20
2
b
L
OTAY
Energy Lab
120,000
5
b-
S
EL FLORIDO
samsung
110,000
2
a
L
OTAY BELLAS ARTES
PLAMEX IV
104,820
3
b-
L
Ind. Park Pacifico
R&R Building A
104,279
4
c-
L
BLVD BENITEZ
Bodega #1
101,184
2
d
S
OTAY
9 NORTE # 19026
101,180
21
28
8
1
BUILT TO SUIT
28
22
?????
2009
750 KVAS
22,437
19
18
1
1995
2 (1,000 - 1,500)
22
23
24
25
26
www.maquilaproperties.com
(858) 551.8000
14 - 19'
300 / 500
Maquila Properties, Inc
Baja California Real Estate Services
Since 1988
www.maquilaproperties.com
(858) 551.8000
Absorption is almost 0
Thank you CBRE
www.maquilaproperties.com
(858) 551.8000
Maquila Properties, Inc
Baja California Real Estate Services
Since 1988
Tijuana Transactions 1st Q 2012
Maquila Properties, Inc
Baja California Real Estate Services
Since 1988
Nombre
pies cuadrados edificio
Foxconn
-195,978
Prologis Alamar #3
Filtec
Foxconn
Bucher
Crockett
HyperPlastics
Global Packaging Solutions
Biotix
Ceva
CMC Converting
Coast Alluminum
Direcciones III
Dela
Mexcal
J and J plastics
Birdair
Baja Fur
Vaso King
Cooper Bussman
-82,000
-55,000
-42,000
-42,000
-21,076
-16,663
-16,250
11,000
11,959
14,601
15,522
31,000
31,000
32,000
41,306
75,342
100,000
115,269
FINSA TIP
Frisa- El Aguila
Iamsa, Nave Oasis
Prologis TIC #4
Azteca C
Flora y Fauna de Atisa
Campina 16
Girasol
Girasol
Girasol
Azteca E
Iamsa- Valle Bonito, Pradera
Iamsa- Valle Bonito, Cienega
Prudential valle sur
Prologis Alamar #1
Verde Otay I
Prologis Frontera
CPA Calle Doce Norte
Absorción neta
8,032
Thanks to Jorge Solis at CBRE
www.maquilaproperties.com
(858) 551.8000
Comentarios
Where are they being leased?
Maquila Properties, Inc
Baja California Real Estate Services
Since 1988
www.maquilaproperties.com
(858) 551.8000
Conclusions
• Prices and Vacancy are stable.
Maquila Properties, Inc
Baja California Real Estate Services
Since 1988
• Time to buy if you can take advantage of low
financing costs.
• Empty buildings selling for less than $20/SF.
• Leased buildings at 10% cap for LT leased with solid
US corporate guarantee.
• Election year pause and uncertainty may be a factor.
• We expect to see less than 1 million SF of net
absorption in 2012. www.maquilaproperties.com
(858) 551.8000

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