Fibra Nova Continues its Expansion in Northern Mexico

By: SiiLA México

According to SiiLA Mexico, Fibra Nova has a total Gross Leasable Area of 342,737 sqm and now adds 24,000 sqm to its portfolio with the announcement of three developments: one in Ciudad Juarez and two more in Chihuahua. The three developments are accompanied by pre-lease agreements, which were announced during the Q4 2020.

The first is a five-year lease in Ciudad Juárez, starting in March 2020, in a 16,000-square-meter building. The tenant is an NYSE listed company with annual sales of 8.7 billion USD.

The second is a five-year lease in Chihuahua with a multinational automobile manufacturing company. The 6,000 sqm building will be delivered in April 2021.

The third is a ten-year lease, starting in May 2021. This is a 2,000 sqm BTS building in Chihuahua. Fibra Nova also stated that the tenant is a company listed on the New York Stock Exchange.

At SiiLA Mexico, we closely monitor Fibra NOVA's portfolio, which has 342.7 thousand sqm distributed in 97 properties oriented to logistics, manufacturing, educational and retail. It is important to mention that the average maturity of its contracts is 6.4 years.

According to the Investor Survey conducted by SiiLA Mexico, industrial assets continue to be the favorite for many investors who are actively looking for opportunities. It is also important to mention that industrial assets have remained the most resilient to the COVID-19 pandemic due to their high occupancy rates, long-term contracts, and dollar denomination. Also, there has been strong interest in the growth in demand for logistics space and e-commerce. As of the fourth quarter of 2020, industrial asset transactions totaled 530 million USD, and the acquired inventory was 740 thousand sqm.

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