Fibra Macquarie México entered into a 10-year lease agreement denominated in US dollars for its recently delivered 210 thousand square foot building in Apodaca, Nuevo León, in the Monterrey metropolitan area.

The tenant is an existing global auto parts manufacturer customer, the real estate investment trust said.

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“This property, 100% leased, offers a Net Operating Income (NOI) yield of 11.9% for FIBRA Macquarie. The property is expected to contribute Net Operating Income (NOI) of approximately $2.7 million annually, beginning in mid-2024.”

In the notice published on the Mexican Stock Exchange (BMV) it indicated that the total investment, including the contributed land, construction costs and tenant improvements, is approximately 22.2 million dollars.

He added that the property is located in a class A industrial park that is being developed by Macquarie and has a total potential Gross Rentable Area (GLA) of 790 thousand square feet, of which 390 thousand are already leased, and has an additional building of 200 thousand square feet under construction.

The Real Estate Trust announced that they currently have approximately 2 million square feet of ABR of growth in progress, of which 720 thousand square feet have been leased with returns of almost 12%.

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Fibra Macquarie highlighted that the construction of the building adheres to the Core and Shell Development guidelines of LEED v4.0 by the U.S. Green Building Council, and hopes to achieve Gold or Platinum level certification.

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