Fibra Terrafina, an investment trust in industrial real estate, reported that during the months of April to June (2Q23) the Gross Leasing Area (GLA) grew 1.0%.

At the same time, the trust also reported an increase in rent in dollars of 5.3%, while the occupancy rate rose to 97.3%, 100 basis points more compared to 2Q22.

Of interest: Silao-León submarket reports the highest growth in Guanajuato during 2023

In the period, the average rent per square foot of the contracts closed as of June of this year was 6.58 dollars, with a leasing spread of 29.8%, compared to the last 12 months.

The company that leases industrial buildings said that its rental income amounted to 53.9 million dollars (million dollars), an increase of 10.6% or 5.1 million dollars compared to the months of April to June 2022.

“We reached a new all-time occupancy record of 97.3%, thanks to strong leasing activity in the quarter. The industrial real estate sector continues to benefit from the high demand for manufacturing space for export that has been generated by a large number of multinational players operating in Mexico,” said Alberto Chretin, CEO and Chairman of Fibra Terrafina's Technical Committee.

On the other hand, he continued, the Bajío region managed to see greater growth, mainly in the markets of Guadalajara and Querétaro. Although the North region continues to be the most representative in terms of leasing activity, accumulating 50% of the rented area. This was driven by tenants in the automotive and electronics sectors.

Check here: The start of industrial projects on the northern border of the country grows 13% annually

In its financial report sent to the Mexican Stock Exchange, Fibra Terrafina said that Net Operating Income (ION) closed at 50.8 million dollars, representing an increase of 8.7% or 4.1 million dollars compared to 2Q22.

At the end of the period from April to June, Terrafina registered a total of 4 million square meters (m2) of Rentable Area made up of 278 properties and 288 tenants.

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Original note