FIBRA Prologis Expands Footprint with $190M Industrial Park Acquisition in Mexico City

FIBRA Prologis, a leading real estate investment trust focused on the investment and management of Class A logistics properties in Mexico, has announced the acquisition of an industrial park located in Mexico City, further advancing its growth strategy.

The transaction, with a total purchase price of US$190.1 million, including closing costs, encompasses eight buildings that span 1.5 million square feet of industrial space. These buildings are nearly fully leased, with rental agreements predominantly in U.S. dollars.

The tenant profile for this portfolio includes companies from the 3PL (third-party logistics), light manufacturing, and e-commerce sectors, which have all seen significant growth in demand for logistics spaces in recent years.

“We continue to execute our growth strategy by acquiring assets in our core markets, aiming to create value through positive market dynamics. This portfolio is located in Mexico City, which is the largest consumption market and our biggest market,” said Héctor Ibarzabal, CEO of FIBRA Prologis, in a statement.

A Strong Presence in Mexico

As of June 31, 2024, FIBRA Prologis’ portfolio consisted of 236 logistics and manufacturing properties across six industrial markets in Mexico, with a total Gross Leasable Area of 46.9 million square feet (4.4 million square meters).

FIBRA Prologis has established itself as a key player in the investment and management of Class A industrial properties in Mexico, designed to meet the growing logistics and manufacturing needs of both national and international companies.

The acquisition of this industrial park reinforces FIBRA Prologis' presence in a constantly evolving market, with Mexico City serving as a major hub for commerce and logistics in the country. The city offers unique opportunities to attract companies looking to optimize their distribution operations.