The manufacturer of home products and automotive parts requested to expand the leased area in Ciudad Juárez by an additional 7,435 square meters.

Thus, through an amending agreement with Fibra Nova, the company will restart the lease term for five years from the date of substantial delivery of the new development, with the option of two additional renewal periods for three years, each.

Fibra Nova's real estate portfolio as of September 30 consisted of 106 properties, which had a total of 478,362 square meters of Gross Profitable Area (GLA) and 1,654 hectares of the agro-industrial portfolio acquired in May. The occupancy rate was 100 percent.

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This agreement is in addition to the three new leasing contracts that Fibra Nova made during the third quarter of the year with foreign companies, which added 88 thousand square meters of GLA, which exceeded 478 thousand square meters of profitable area.

Guillermo Medrano, general director of Fibra Nova, previously commented that these contracts allow them to approach 1 billion in annualized rents, with which they have practically tripled the size of the initial portfolio in terms of income.

Fibra Nova rents properties for industrial, commercial, educational, logistics, as well as engineering centers and is the first real estate trust to enter the agribusiness segment.

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Among its tenants are firms such as Grupo Bafar, which is also its controlling company and has businesses in the processed food sector offering products under the Parma, Sabori and Campestre brands.

As well as Black & Decker, the American manufacturer of electric tools and appliances, Laureate, the network of higher education schools, as well as the Electrolux Group, the Swedish multinational that manufactures household and professional appliances, among others.

In Solili you can consult industrial warehouses available in Tecate, Tijuana and Mexicali

Original note