One of the key drivers of growth for the real estate investment trust (Fibra in Spanish) Macquarie is the development of industrial properties. In this regard, the trust has invested around $257 million dollars in the development of 3.7 million square feet (ft²) across five industrial real estate markets in the country since 2017.
Mexico City is the market where Fibra Macquarie has developed the largest amount of gross leasable area (GLA) for industrial buildings, with 734,000 ft2, followed by Ciudad Juárez, Monterrey, Tijuana, and Reynosa.
Currently, Fibra Macquarie has a project under construction in Tijuana, which is expected to be completed during the first quarter of 2025.
Fibra Macquarie’s Development Potential
According to its land reserve, Fibra Macquarie has the potential to develop more than 4.3 million ft2 of industrial space across five industrial real estate markets: Ciudad Juárez, Monterrey, Tijuana, Guadalajara, and Reynosa.
In the coming quarters, the largest expansion is expected to take place in northern Mexico, specifically in Ciudad Juárez and Monterrey, which account for 51% and 25% of the potential development area, respectively. These are followed by Tijuana and Guadalajara with 11% and 10%, while Reynosa is set to see development of 3% of Fibra Macquarie’s current potential area.
Investment in Industrial Land
To carry out this expansion, Fibra Macquarie has strengthened its investments in land for industrial development. In November 2024 alone, it acquired a 9.6-hectare plot in the El Santo corridor in Guadalajara. This transaction was valued at $8.4 million USD. On this land, Macquarie has the potential to build 450,000 ft² of GLA.
Likewise, in April 2024, it also purchased a 25-hectare plot in the Monterrey metropolitan area for $12.4 million USD, with the potential to develop 906,000 ft² of GLA.
Overall, Fibra Macquarie will continue with its expansion plan through the development of industrial facilities, meaning land acquisitions are likely to continue this year.
Source: Datoz and Fibra Macquarie
