LOGAN Mexico worked for a real estate developer on the real estate valuation or appraisal of an industrial manufacturing project in Reynosa, Mexico. The project was under construction when the appraisal began and was required for bank refinancing. The project was pre-leased when construction began – and was technically a ‘build to suit.’
Manufacturing is growing at a significant rate in Mexico now, as companies that used to have manufacturing based in Asia are moving operations to Mexico, a concept called nearshoring. See an important article on vacancy rates and absorption in Mexico by Solili here. Learn more about LOGAN’s retail valuation practice: Industrial Appraisal Scope