Fibra Prologis acquires industrial park in Mexico City

MEXICO CITY - Fibra Prologis, a Mexican real estate investment trust, has completed the acquisition of the O'Donnell Puente Mexico industrial park, located in Mexico City, for a total of US$190.1 million, including closing costs.

This purchase is part of the company's growth strategy, focused on acquiring assets in key markets.

'We continue to execute our growth strategy by acquiring assets in our core markets. This portfolio is located in Mexico City, which is the market with the highest consumption, as well as our largest market,' said Hector Ibarzabal, CEO of FIBRA Prologis.

The acquired industrial park is located in the Cuautitlán, Tultitlán and Tepotzotlán (CTT) industrial corridor and covers a total of 139,354 square meters distributed in eight buildings, which are fully occupied.

According to data provided by SiiLA, most of the leases in these properties are denominated in dollars, with tenants belonging to strategic sectors such as logistics (3PL), light manufacturing and e-commerce. Major occupants of the industrial park include transnational companies such as Bericap, Kuehne + Nagel, Moller Maersk and Shopee.

This acquisition is in addition to the recent incorporation of at least 14 properties from Fibra Terrafina's portfolio, made in August of this year, making Fibra Prologis one of the largest owners of the CTT industrial corridor.

According to data from SiiLA FIBRA Analytics, more than one third of the company's industrial Gross Leasable Area (GLA) at the national level is concentrated in the metropolitan area of the Valley of Mexico. With the acquisition of O'Donnell Puente Mexico, the company's ABR in the Valley of Mexico will increase by 32%.

Other properties owned by Fibra Prologis in the CTT corridor include Tres Ríos, Prologis El Grande and OCPL industrial parks, consolidating its presence in one of the most important industrial markets in the country.