Monterey, NL. The vacancy rate of the industrial real estate market in Monterrey decreased from 5.3% at the end of 2022, to 3.5% this year and the need for new industrial buildings increases, due to the increase in demand in North American consumer markets; to the growth in the need for space for e-commerce and the relocation of supply chains, he told The EconomistJavier Llaca, director of operations and investments at Fiber Mty.
The metropolitan area of Monterrey, last year ended with a vacancy rate of around 5.3%, so far this year so much space has been occupied that availability is less than 3.5%, (for this reason), there is a lot of demand for new product”, emphasized the manager.
In this sense, a topic that becomes very conjunctural is the scarcity of water, because many export manufacturing companies that settle in the metropolitan area do not have a significant demand for water.
On the other hand, companies such as a cartonera, a food and beverage company, if they demand a lot of water, he delved.
“We have not seen much of this type of company in our portfolio, (the ones we have are) component manufacturing companies, auto parts, major appliances, they do not require as much water, but they do require a lot of electricity.
“I would worry more about the industrial issue in Nuevo León, about the availability of electricity; In our portfolio we do not develop, we buy already stabilized assets, those assets already have their demand for electricity resolved in one way or another”, he specified.
However, as a company from Monterrey, Fibra Mty is concerned that the issue of water supply can be resolved in the medium and long term, so that the industrial sector continues to grow, he noted.
Reissue
Javier Llaca commented that Fibra Mty is in a public process of offering new capital, with an issue of 3,450 million pesos, which will be launched at the end of the third quarter of this year.
“100% of the resources that we expect to place on the stock market are acquisitions of industrial properties, we are in a privileged position, our title is trading at values similar to net assets, we are seeking to invest between 150 and 200 million dollars additional acquisitions of industrial buildings with locations in Tijuana, Mexicali, Ciudad Juárez, Saltillo, Monterrey, Bajío and Central Mexico.
He explained that they are evaluating several portfolios that comprise 85 buildings, although they are not going to acquire all of them because they have discipline in what they buy, in profitable area it will be around 820,000 square meters, mainly industrial with 600,000 square meters between the third quarter of 2022 and the second next year.
