TAG Industrial Watch: March 2, 2024

The reshoring movement that began during the pandemic has quickly become more of a nearshoring phenomenon as more production transfers or is established in Mexico rather than in China. For the first time in 2023, Mexico overtook China as America’s top importer with shipments worth $475.6 billion. The increase in shipping activity is already having an impact on many industrial markets along the border in both countries from Tijuana, Mexico to McAllen, Texas as new distribution facilities emerge. Although nearshoring is largely being praised, it is simply transferring one of America’s biggest problems from one nation to another. While the trade deficit with China fell to the lowest level since 2010 at -$279.4 billion last year, the deficit with Mexico hit a record high of -$152.4 billion (U.S. Census Bureau). Given that America lacks the productive capacity to repay its trade deficits, nearshoring may benefit border cities but the U.S. overall won’t be in better shape economically.

I N D U S T R I A L   N E W S

Nearshoring Surge In Mexico
Seeks US CRE Investors

GlobeSt.com – February 26, 2024
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Mexican Development Giant Meor Seeks
U.S. Equity Partner For $1.7B Industrial Plan

Bisnow – February 21, 2024
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How Reshoring Is Driving Industrial
Real Estate Demand

Commercial Property Executive – February 19, 2024
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Election Year Triggers Investment
Surge In Key Industrial REITs

Yahoo! Finance – February 22, 2004
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US GDP “Grew” $334 Billion In Q4….
That Growth Cost $834 Billion In Debt

ZeroHedge.com – February 28, 2024
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R E G I O N A L   N E W S

Port Of Los Angeles Sees Second-
Busiest January On Record

Connect CRE – February 14, 2024
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Auto Parts Maker Investing $100M
In Georgetown Factory

Connect CRE – February 15, 2024
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This Week’s Houston Deal Sheet:
Pagewood Sells Its Industrial Development

Bisnow – February 16, 2024
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Lovett, PCCP Break Ground On
Houston-Area Industrial Park

Commercial Property Executive – February 28, 2024
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Lockheed Martin Contractor Poised To
Join Firms Laying Off Texas Workers

CoStar – February 12, 2024
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