MEXICO CITY, [10 DEC 2021] – A leading industrial real estate investment trust (“FIBRA”), externally managed by PGIM Real Estate and dedicated to acquiring, developing, leasing, and managing industrial real estate properties in Mexico, announced two key leases and two new development projects.
The FIBRA continues to take advantage of its high-conviction growth story in Mexico supported by PGIM Real Estate. The digital transformation of our society, and structural demand changes, have given rise to new opportunities in the ecommerce sector. As a result, the FIBRA has signed new lease agreements, demonstrating the relevance of e-commerce growth for the Fund’s strategy:
- The signing of a seven-year term lease for the 210,000 square foot industrial property. This lease will generate an estimated US$1.6 million in NOI per year, beginning in June 2022. The tenant specializes in the manufacturing of packaging solutions, which serves a diverse range of customers in the e-commerce sector.
- The signing of a five-year contract with a leading e-commerce group for last-mile operations in Tijuana. The repositioning of this currently vacant property of 50,849 square feet will generate annualized NOI of US$320,000 as of December 2021.
Read the full press release at the link below