Under its growth strategy for the next three years, Fibra Terrafina expects to conclude before the end of this year with the construction of two new projects in the industrial real estate sector in the states of Chihuahua and Nuevo León.

"With construction progress of 80% in the built-to-suit project in Ciudad Juárez, and 50% for the development in Apodaca, they are expected to be completed during the third and fourth quarters, respectively," said Alberto Chretin, general director and president of the Technical Committee of the Real Estate Investment Trust (Fibra).

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The investment in these properties is 18.6 million dollars and an extension of 473 thousand square feet of gross leasable area (GRA). The project in Apodaca consists of a 153,000-square-foot building, according to information from Terrafina.

The company wants to take advantage of the growing activity of leasing industrial and logistics space, driven by readjustments in supply chains for export.

Fibra announced at the end of 2020 a plan to boost its growth based on the investment of between 150 million and 200 million dollars for the development of 2.5 million to 3.2 million square feet in new projects to serve the sectors of electronic commerce, logistics and nearshoring.

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"Looking to the future, we are optimistic that Terrafina will maintain a strong market position, taking advantage of opportunities to consolidate in a defensive sector supported by investments from multinational companies focused on manufacturing activities for export, logistics and distribution," said the CEO.

Fibra Terrafina has 279 properties, including 275 industrial buildings, with a total of approximately 39.0 million square feet of GLA and four land reserves, designed to preserve the organic growth capacity of the portfolio. Occupancy reached 96.3% through June.

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Original note