Thursday, June 20, 2024 Jun 20, 2024
80° F Dallas, TX
Advertisement
Retail

Giovanni Palavicini: Border Wars and Texas Retail

Drug cartel wars are causing retailers in Mexico to flee their native country and open and operate stores in the United States, especially in Texas. Its greatest impact can be felt in El Paso, where there is little retail vacancy.
|
Image
Giovanni Palavicini

It is impossible to ignore the drug cartel wars along the United States-Mexico border? I recently had dinner with a friend from Juarez, Mexico, whose affluent family had to leave their homes and thriving businesses due to the danger of drug cartels. Most now live in El Paso, where they still continue to operate their family chain of grocery stores and gas stations. They have now established businesses here in the United States and are having an impact on our business, philanthropic, and political landscapes.

Much like this story, there are many Mexican nationals and businesses that continue to move here to the U.S. for safety and quality of life.

The greatest example I see of the border wars’ impact on our economy is in West Texas. I have spent a lot of time in West Texas recently, and on my last visit to El Paso, it was amazing to realize how vibrant the retail real estate market is and how quickly it is growing. There is little to no large-box vacancy and very little small-shop vacancy. There is no retail for sale, because landlords realize the value of these assets in the thriving market.

Unfortunately, the drug wars will continue to cause people to flee their native country of Mexico. However, we in Texas and throughout the country will continue to reap rewards of having great people and businesses integrating into our communities.

Giovanni Palavicini, a native of Mexico City, is founder of Fronteras, a Dallas real estate firm that specializes in the Latino market. Contact him at [email protected].

Advertisement