房地产 -华雷斯城2025年第四季度工业数据 Ciudad Juárez Industrial Figures Q4 2025

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CBRE

FIGURESCIUDADJU⃞REZINDUSTRIALQ42025

slowlybutsteadily,themarketeasesbacktowards

long-termtrends,

447,426

SFDeliveredconstruction

7.7%

vacancyRate

1,129,030

SFNetAbsorption

SFconstruction

previousquarter.

Note:Arrowsindicatechangefrom

MARKETOVERVIEW

-

absorptionwas2.4millionsq.ft.,outpacingthepreviousyear'stotal.

-

specdeliveryandarecentlyvacatedlargeclassBspace.

-

sinceQ32018.

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yearincrease,returningtothehistoricalaverage.

(2,000)

TheJuarezIndustrialMarketclosedwithnegativequarterlynetabsorption,butmarket

fundamentalscontinuedtostabilize,NewleasingactivitythathadimprovedduringQ32025

stalledtocloseouttheyear.However,minimalmoveouts,decreasingspeculativedeliveries,andaslowingofnewconstructionstartscontinuetobalancethemarkettowardhistoricalaverages.Althoughthemarketcontinuestowadethroughuncertaintyaroundtradeandtariffs,arecent

pick-upintenantsseekingspaceinthemarketpointstoincreasingconfidenceandastrongstarttothecomingyear.

FIGURE1:NetAbsorptionandvacancy

5,0004,0003,000

2,000

6

4

2

0

NetAbsorptionsF(000's)vacancyRate(%)

(3,000)

source:CBREResearch,Q42025.

FIGURES|CIUDADJUÁREZINDUSTRIAL|Q42025

2CBRERESEARCH©2026CBRE,INC.

AbsorptionandActivity

Q42025closedwithnegative86,661sq.ft.ofnetabsorption,aquarter-over-quarterandyear-

over-yeardecrease.Totalleasingactivitywas380,000sq.ft.throughfourleases,includingtwopre-leasedspeculative(spec)buildingstotaling266,000sq.ft.Annualnetabsorptionof2.4

millionsq.ft.surpassedthe2024totalbyabout200,000sq.ft.classAproductcontinuesto

outperformotherproductclassesandthemarketasawhole,The2025annualclassAnet

absorptionof2.7millionsq.ft.isinlinewiththe10-yearaverageof2.8millionsq.ft.IncludingQ42025,classAhaspostedeightyearsofpositivenetabsorptionwithonlyoneinterruption.

Themarket-widevacancyratewasup60basispoints(bps)quarter-over-quarterbutfell60bpsyear-over-year.TheclassAvacancyrateincreased20bpsquarter-overquarterfollowingthe

deliveryofvacantspecconstruction.year-ove「-year,theclassAratefellfrom10.8%inQ42024to9.0%.Thiswasduetotheleaseupofexistingspacesaswellastheslowingofspecdeliveries.onlyonesignificantvacancyoccurredduringthequarter,a211,000sq.ft.classBsublease.

subleasespacenowaccountsforroughly13%ofallvacantspaceintheJuarezMarket.

construction

withnonewconstructionstartsduringQ42025,industrialspaceunderconstructiondeclinedby440,500sq.ft.quarter-over-quarterand982,000sq.ft.yearove「year.Twovacantspecprojectsandabuild-to-suittotaling447,426sq,.ft.weredeliveredduringQ42025.sixspecprojects

remainedunderwayattheendofthequarter.

FIGURE2:cd.JuarezIndustrialMarketstatistics

North0.90.979,416

west

10.5

12.1

15,624

central

southwest

526,65880,00080,000131,851

southeast

-367,426(166,661)1,287,281

south/Elux

522,9561,051,885

JU⃞rezTotal

1,129,030447,426(86,661)2,416,841

classA

1,129,03047,426124,3932,682,071

classB4,55.0--(211,054)(344,200)

source:CBREResearch,Q42025.

FutureActivity

CBREtracksuserdemandforspaceintheJuarezIndustrialMarket.Q42025closedwithusersseeking2.6millionsq.ft.,matchingthe59trailingquarterhistoricalaverage.Thisisaquarter-overquarter

improvementof1.6millionsq.ft.and870,000sq.ft.yearover-year.whiledemandforindustrialspacecontinuestobeimpactedbyuncertaintyandmanyprojectshavebeenplacedonhold,demandby

industryhasbroadenedandusersizeshaveincreased.Demandforspaceinthemarketrangedinsizefrom10,000sq.ft.to300,000sq.ft.andamediansizeof200,000sq.ft.

FIGURE3:constructionSF(Millions)

FIGURES|CIUDADJUÁREZINDUSTRUAL|Q42025

MarketAreaoverview

south/Elux

Definitions

Total

Availablesq.Ft.dividedbythetotalbuildingArea.AverageAskingLeaseRate:Acalculatedaverageweightedbytheir

correspondingavailablesquarefootage.BuildingArea:Thetotalfloorareasq.ft.ofthebuilding,typicallytakenatthe"dripline"ofthebuilding.NetAbsorption:Thechangeinoccupiedsq.Ft.fromoneperiodtothenext.TripleNetLeaseRate:Rentexcludesthe"net"costs(realpropertytaxes,buildinginsurance,andmajormaintenance)typicallyincludedinaGrossLeaseRate.occupiedsq,Ft:BuildingAreanotconsideredvacant.vacancyRate:Totalvacantsq,.Ft.dividedbythetotalBuildingArea.vacantsq.Ft:spacethatcanbeoccupiedimmediately.

surveycriteria

Includesallindustrialbuildings30,000sq,.ft.andgreaterinsizeingreatermetropolitanareaofJuarez,chihuahuaandsanJeronimo,chihuahua.Buildingswhichhavebegunconstructionasevidencedbysiteexcavationorfoundationwork.

contacts

ElisabethDowns

seniorFieldResearchAnalystelisabeth.downs@cbre.com

MarcMiller

ResearchDirector

marc.miller1@cbre.com

CBREELPASOOFFICE

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