Fibra Macquarie, the Industrial and Commercial Real Estate Investment Trust, entered into a 510,000-square-foot lease agreement for two warehouses located in the Cuautitlán logistics corridor, a strategic area in the Metropolitan Area of Mexico City.

The building will be occupied by an e-commerce company to carry out its logistics operations and the lease will be for 10 years, triple net, denominated in US dollars.

Of interest: Speculative projects dominate industrial construction in Mexico City

Participation in this investment will be $37.2 million, exclusive of development fees, with a corresponding stabilized operating net income for the first year of approximately $4.4 million, an amount that represents a return on investment at the net income level. operating 11.8 percent. Fibra expects to charge a commission for development and recurring commissions for administration.

The building will have sustainable attributes, as it is built in accordance with the LEED v4.1 Building Design and Construction specifications developed by the United States Green Building Council (USGBC).

As well as under the Development of the Design and Construction of the Structure (Core and Shell Development) and is expected to obtain a certification of at least Gold Level (Gold). This asset begins to contribute to net operating income (ION) during the fourth quarter of 2023.

Simon Hanna, Managing Director of the real estate trust, said the development program is important to its long-term growth plans, with strategic locations in high demand. The project is part of the 1.8 million square feet Gross Leasable Area (GLA) under development and that will be delivered in markets with high demand and low vacancy levels, contributing to the growth of profits per certificate in the coming quarters.

Check here: Factors that will continue to push up the rental prices of industrial buildings

Fibra Macquarie reported that the second building of this project with 225,000 square feet is nearing completion and has leasing prospects that are under evaluation. As of March 31, 2023, it had remaining payments for the project of approximately $15 million, the statement said.

The firm's portfolio consists of 238 industrial properties and 17 commercial properties and offices, located in 20 cities in 16 states of the Mexican Republic.

In Solili you can consult industrial warehouses available in Tepotzotlán and Toluca

Original note