BTSD will invest $ 40 million in the development of two industrial warehouses in Cuautitlán
By Redacción
January 9, 2020
he Mexican company of the industrial real estate sector, BTS Development (BTSD) acquired through the venture capital fund Prumex IV, a property located in Cuautitlán Izcalli, where it will make total investments for 40 million dollars.
The property that belonged to a telecommunications company has an area of approximately 96,000 square meters, of which 80% will be demolished. An office building of 5,000 square meters will be maintained, which is rented by the former owner and some companies in the telecommunications sector.
Starting this year, BTSD will develop two Class A industrial buildings that will have a profitable area of 49,000 square meters, said Pablo Barco, director of Investment at BTSD, highlighting that with this project they will meet the demand for logistics spaces in the northern market of the Mexico City.
In its report on market performance in the third quarter of 2019, CBRE locates the center of the country, as a consolidated area due to the high demand for spaces and the supply observed, mainly due to the dynamism that the logistics sector has given it . In this sense, the Tepotzotlán submarket maintains 41% in development, followed by Vallejo-Azcapotzalco with 25%, Tultitlán with 22% and Cuautitlán with 13%, with a total of 12 ships.
During the first nine months of the year, the same report indicates that the northern part of the city maintains the highest industrial activity. Cuautitlán leads the inventory with 3.3 million square meters by adding 62 thousand square meters, in terms of gross demand, it contributed 47% of the total marketing, of which 29% are new supply, so its vacancy remained in 4.5%, lower than the average rate.
"The purchase of this new property and the investment of 40 million dollars for the construction of two industrial buildings will allow us to continue consolidating our presence in the center of the country," said the director of BTSD Investments, adding that they are also advancing in the projects that they have in the Bajío and the northern border.
The company has 660 thousand square meters of Class A industrial warehouses under management and is present in Monterrey, Querétaro, Lerma and the Cuautitlán-Tultitlán-Tepotzotlán corridor.