With extensive experience in the real estate market , Eduardo Rojo and Oliver Rodríguez, head and make up, in Tijuana, Baja California, one of the main headquarters of Newmark Knight Frank (NKF), serving the broad market in northwestern Mexico.
NKF is one of the most important real estate firms in the world and a leader in real estate consulting . In Mexico, it offers comprehensive solutions to large corporations and institutional investors, as well as to owners and users at a local and regional level , so the Baja California headquarters is a strategic point to serve the market on the country's northern border, from Tijuana to west of Ciudad Juárez.
Oliver Rodríguez has been focused on the commercial real estate market for more than 15 years , specializing in the acquisition and disposition of strategic real estate, leasing transactions and project development . For his part, Eduardo Rojo has extensive experience as a developer in Mexico City, Guadalajara, Nogales, Hermosillo, Mexicali and Tijuana. In turn, he was VP of Marketing at Prologis, Corporate Properties of Americas (CPA), Grupo ATISA and Grupo IAMSA.
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In 2013, Oliver Rodríguez opened Alpha México to serve several of his clients after working just over 9 years at NAI México . At the end of 2015, and after 26 years as a developer, Eduardo Rojo joined Alpha México, forming a successful team, where the company began to have contact with the global leaders in real estate services in the US and Mexico. This motivated them to join a more experienced business model such as Newmark Knight Frank (NKF).
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“We fit in with the team that Giovanni D'Agostino (President in Mexico and Regional Director for Latin America of NKF) was forming; and definitely, we brought a vision to grow the business and attack the new challenges that came in the market, on behalf of a firm that saw with an aggressiveness to grow and put its mark on the market. We made the decision a year and a half ago to be part of the NKF team and since then we have been wearing our shirts well ”, the executive directors Eduardo Rojo and Oliver Rodríguez comment in an exclusive interview for Inmobiliare.
The work that NKF has developed in Tijuana has focused mainly on the industrial area , since despite the uncertainty that prevailed last year linked to political and economic events in the country , the northwest area and specifically that city, maintain a growing market with strong demand.
During the last year of industrial activity in Tijuana, according to NKF market reports , this segment experienced a growth of 113,427 m², reaching a market size of 2.96 million m² of class A buildings.
The absorption of the last 12 months closed at 111,473 m², maintaining an availability rate of 2% due to lack of industrial spaces. This has triggered the leasing of projects that are just under construction ('Built-To-Spec'), a trend that had not been seen in Tijuana in the last 20 years.
Some notable operations were: TransPak: 10,000 m² at IAMSA Vie Verte Industrial Park; DiaLight: 10,000 m² at IAMSA Vie Verte Industrial Park: Maxon: 6,700 m² at Vesta Lagoeste Industrial Park: Jacuzzi: 16,000 m² at Vesta Lagoeste Industrial Park; ParPro: 14,000 m² in Santa Fe Industrial Park; and G-Global: 8,000 m² ATISA in Parque Industrial Pacífico
The average rental price of the last 12 months has increased by 6% , and its trend marks that it will continue to grow due to the high interest of users to establish or grow their operations in that city , at the end of the first quarter of 2019 the average price monthly rent closed at USD $ 5.16 / m².
Tijuana has a very important position in the industrial area, ahead of Guadalajara and Monterrey. It is a city that has awakened the appetite of large investors originally from the United States and Asia, today national investment prevails through new stock market investment vehicles. "We still continue with a lot of foreign investment, especially from the United States, and the sectors with the greatest growth are aerospace and medical, although electronics is also solid," Newmark executives report in the northwest zone.
However, the office segment is taking an important place, "today we see a very strong growth and boom in the field of offices , we are beginning to have coverage also in the branch to put the footprint of Newmark, since recently a internal study showed us a future growth of up to 300 new buildings in the first square of the city in the next 15 years. " they added.
Regarding the current context, the directors of NKF Tijuana emphasize that now that the rules of the game are known in the new trade agreement between Mexico, the United States and Canada ( T-MEC ), the real estate market in the region will be reactivated.
“With the fiscal adjustment on the border, we are going to see a 'boom' in offices and corporate operations never seen before in the city and in terms of manufacturing that is increasingly competitive and striking for Americans, the main indicators already on the doorstep suggest that the rent of industrial buildings is once again at the highest, historically in the city of Tijuana ”they affirm.
2019 is presented with a very positive outlook for NKF Tijuana, since last Friday, May 17, one of the main projects in the region was announced, where marketing will be in charge. These are two Class A industrial buildings, in the Thomas Alva Edison industrial park , and one in La Encantada, which are located in the Florido submarket , one of the newest in the state of Baja California. These properties will house world-class operations for multinational companies of diverse manufacturing , which represents a vote of confidence in the northwest of Mexico.
FRONTIER THOMAS ALVA EDISON
Building A: 249,723 square feet Building B: 296,127 square feet Min. Clear height: 30 feet Loading docks in building A: 25 Loading docks in building B: 35 Access ramps: 4 per building Parking spaces: 445 Construction Type: Concrete Slope Roof Type: KR-18 Distance to US Border Crossing: 14 miles / 30 minutes Distance to Ensenada, MX Maritime Port: 59 miles / 1 hour Distance to Long Beach, US Seaport: 136 miles / 2.5 hours
Artha Capital, through its FRONTIER industrial platform , will develop the project in two stages. The first 23,200 m² building will be available in the first quarter of 2020 and the second will measure 27,511 m², with a construction date to be announced later. Likewise, FRONTIER will carry out the work of a 9,497 m² Class A building this year, which is located less than 6 kilometers from the Thomas Alva Edison Industrial Park in La Encantada; one of the most avant-garde industrial parks in Tijuana, home to the operations of large companies in the food, medical, electronic, metalworking sectors ,among others. This building will be ready for the third quarter of the current year and will also be commercialized by NKF Tijuana.
“We have landed the representation of one of the strongest capital investment firms nationwide. Artha Capital has just assigned us three buildings that they are building, at the moment speculative. Those three buildings in inventory total 650 thousand square feet , it is not typical that an allocation of that size is given, but we were designated by our experience, both in brokerage and in development ; And with great pride we are currently working on a lease in one of the three buildings that was rented in the construction phase. And the marketing of the other two buildings is going from strength to strength ”, expressed the executives.
The project was announced right at the site where the new complex will be built, and the entire industrial promoter community in the region was invited , including organizations such as the entity's Secretariat for Economic Development (SEDECO) and the office of Economic Development of Tijuana, AC (DEITAC).
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