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Experts talk about the panorama of the Treaty between the United States, Mexico and Canada

By Anayancy Ulloa

South Texas

October 31, 2022





The McAllen Economic Development Corporation (MEDC, for its acronym in English: McAllen Economic Development Corporation ) brought together experts to give their vision about the United States, Mexico and Canada Agreement - “ USMCA 2022: In the moment”.

Various aspects were addressed, and there was the participation of prominent guests who shared, from their area of ​​expertise, a vision of the present and economic and political future. International Labor Market Conditions under USMCA . Import/export and supply chain considerations, as well as current trends in the real estate market.

The exhibitors were Salvador Contreras, associate professor and director of border economic studies and Maroula Khraiche, associate professor and director of the Center for Border Economic Studies at the University of Texas Rio Grande Valley . Francisco Peña, attorney at the firm Cacheaux Cavazos & Newton ; Jorge Torres, US Customs Broker and President of Interlink Trade Services, and Carlos Telles, Vice President of CBRE / Transaction and Advisory Services.

The webinar was presented and directed by Keith Patridge, president of MEDC (for its acronym in English – McAllen Economic Development Corporation).

 

AN ADVANCE IN THE REAL ESTATE SECTOR

Although the topics that will be addressed in this webinar are diverse, Mexico Industry interviewed one of the participating exhibitors to find out a preview.

About the panorama and trends of the real estate market, Carlos Telles, vice president of CBRE , commented that although the market in Reynosa, Tamaulipas, -speaking of surface, is tight- this suggests the planning of construction of new warehouses by industrial developers .

In the US, in McAllen, Texas in particular, the market has never been for manufacturing, it has always been distinguished for being distribution and logistics. Given the situation that was experienced by the Covid-19 pandemic and the interruption in the supply chain, many companies began to rent empty warehouses in the South Texas Valley. The demand has been so strong that those owners who decide to build a new warehouse can occupy it in a relatively short period of time.

“Market availability in McAllen is 1.9%, but like Reynosa, there is some inventory that, because it is not current, is likely not to be rented,” Telles explained.

He added that, although the future could look a bit uncertain at this time, the way things are handled now in the construction of new ships is a conservative strategy, unlike periods like 2005 and 2006 when construction was done speculative, since the panorama at that time was very promising.

“Things look promising in the industrial market, but as there is uncertainty in the national economy and the global outlook, things are being done with much greater caution. Although we are not as aggressive as Laredo, Dallas or Houston as this region is a smaller market, I believe that we will continue to grow, but with caution”, assured Carlos Telles.

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