FIBRA Prologis, an owner and operator of Class-A logistics real estate, announced the acquisition of 250,400 square feet across two fully leased Class-A logistics facilities for a total investment of US$ 16.2 million, including closing costs.
The two properties are new developments by sponsor Prologis, and are located in the southeast submarket of Ciudad Juarez.
"This acquisition complements our portfolio in Ciudad Juarez, which as of September 30, was 95.6 percent occupied, outpacing Ciudad Juarez's market occupancy by 290 basis points”, revealed the company in a press release.
“The properties are located within Juarez Industrial Center, which is in the most important and dynamic industrial submarket of Ciudad Juarez and has direct access to a major highway as well as proximity to the U.S.-Mexico border crossing," said Luis Gutierrez, CEO, Prologis Property Mexico.
Both properties are 100-percent leased to EP Logistics, a growing regional third-party logistics company that provides export and import services to manufacturers in the electronics, automotive and medical device sectors, among others.
As of September 30, 2016, FIBRA Prologis owned 3.3 million square feet of logistics and distribution space in the Ciudad Juarez market and 33.3 million square feet throughout Mexico.