For Fibra Storage, one of the consequences brought by the COVID-19 pandemic is the reconfiguration of real estate spaces in front of the home office and the emergence of electronic commerce, because the leasing of mini-warehouses will prove to be a long-term resilient investment.

The company indicated that this investment has been shown to survive adverse economic cycles, so its profitability goes beyond immediate quarters and years.

In this sense, Fibra Storage affirmed that it is ready to face the new reality and be the space solution that becomes the home and office extension of many Mexicans.

Given this, he assured that they are evaluating opportunities to continue the growth of the real estate trust.

It currently has 21 properties, of which 16 are in operation; seven stabilized (which have reached 85% occupancy for a month) and nine in the stabilization process.

While in the development stage it has 41,922 square meters (m2) of gross profitable area (GLA), which once completed will represent an increase of 37.5% to its current leasable space, which is estimated to occur in the course of the year 2022 and involve capital investments (CAPEX) for 626.5 million pesos.

The GLA of Storage is 111,847 m2, plus the projects under development, it will consolidate a portfolio with 153,769 square meters of mini-warehouses for rent.

At the end of the fourth quarter, the occupancy of its properties, which are located in Mexico City and the State of Mexico, closed at 75.3%, measured on the gross profitable area available, which compares with 72.6% in the previous quarter.

79.5% of its portfolio belongs to the residential segment and the rest to commercial clients.

It is well known that industrial activity has managed to overcome the economic slowdown, even reaching growth levels that were not projected prior to the pandemic, as a result of the change in consumption behaviors generated as a result of the sanitary confinement.

Mexico City, with more than 21% of the industrial inventory nationwide, increased its capacity in the last three years with the so-called CTT (Cuautitlán, Tultitlán and Tepotzotlán) which in turn represented about 63% of the capital's inventory.

As a result of the pandemic, the department stores and distribution centers that are located in peripheral areas of the city have been reconfigured on the premise of facilitating storage, collection and returns areas closer to the final consumer that speed up delivery times.

According to the Solili real estate platform, although during 2020 there was a stagnation in the construction of industrial spaces in the Valley of Mexico, for the last quarter of last year the start of the construction of 150 thousand square meters was reported, the area being North where more developers expand or modify their inventories to suit demand.

This need has allowed demand to be positively impacted in traditional industrial corridors such as Naucalpan, Vallejo and Iztapalapa.