Fibra Prologis reported that its revenues in dollars increased 9.5% in the third quarter of the year, compared to the same period of 2020, driven by an increase in the gross profitable area and the increase in rent of 0.9 percent.

Occupancy in the period was 96% and the effective net rent in renovations increased 7.4 percent

The report sent to the Mexican Stock Exchange indicated that the flow generated by the operation (FFO) grew 3.1%, which considers a new surface in the division of consumer and manufacturing markets.

Check here: With accumulated industrial demand of 319 thousand m², Guadalajara will report 2021 with record figures

While the net operating income (NOI) in cash in the same properties was positive by 12.5%, driven by fewer concessions, increases in annual rent and a lower exchange rate.

Fibra Prologis portfolio occupancy remains healthy, averaging over 96% and the average term for new leases was 55 months. The effective net rent in renovations increased 7.4% in the comparison period.

“Looking to the end of the year, we believe that the acceleration that defines the industrial real estate sector in Mexico and worldwide will set new records in net absorption, rent levels and valuations. Our operating and financial results for the third quarter were solid and the leasing volume was 1.3 million square feet and the renovations represented 60% of this activity ”, stated in his report Luis Gutiérrez, executive director of Fibra Prologis who is dedicated to the investment, acquisition and leasing of industrial real estate.

Of interest: Saltillo reports quarterly growth rates of industrial demand of almost 40%

He commented that market rents are expected to rise, driven by strong supply and demand, as well as higher replacement and construction costs and rising land values.

Luis Gutiérrez assured that the supply of space in the border markets remains severely restricted, resulting in unemployment of around 1 percent. While consumption and manufacturing have been and continue to be key drivers of the Mexican economy.

In Solili you can consult industrial warehouses available in Mexico City, Guadalajara, Ciudad Juárez and Monterrey

Original note