FIBRA Macquarie Celebrates Groundbreaking of Industrial Development Project in Tijuana

MEXICO CITY--(BUSINESS WIRE)--FIBRA Macquarie México (FIBRA Macquarie) (BMV: FIBRAMQ) announces a groundbreaking event for its industrial development project in the high demand market of Tijuana, Baja California, which is taking place on August 3, 2023.

The project encompasses the development of a 25 hectare parcel of land in the strategic submarket of Libramiento in southwest Tijuana. Once complete, the project will feature three state-of-the-art industrial buildings, comprising 875 thousand square feet, to serve the growing demand for industrial space in northern Mexico. Construction is underway for the first building, totaling 410 thousand square feet of gross leasable area which is scheduled for delivery in the first half of 2024. Key services feasibilities have been obtained, including road access, water, and energy.

The project is poised to play a pivotal role in further stimulating the region's economic growth and prosperity. FIBRA Macquarie anticipates a total investment of approximately US$90 million (Ps. 1,500 million) to develop the industrial park, a sign of the significant commitment to the region's economic growth and industrial sector. Furthermore, the project has been designed in accordance with the highest environmental standards, with the aim of both green certifying each of the buildings and minimizing their environmental footprint. At the same time, construction plans and strategy adhere to the highest work health and safety standards, a practice that is embedded in FIBRA Macquarie’s development strategy.

"We are excited to celebrate this milestone with the groundbreaking ceremony of our new industrial development project in Tijuana. This project marks a pivotal step in our commitment to fostering economic growth and development in the region and capitalizing on the accelerating nearshoring activity into Mexico,” said Simon Hanna, chief executive officer of FIBRA Macquarie. “We remain committed to delivering market-leading industrial spaces, that fulfill the evolving needs of businesses and incorporate superior sustainable building standards. We currently have a portfolio of 38 properties in the State of Baja California, hosting 57 companies and contributing thousands of jobs to the State's economy. We look forward to creating a dynamic and thriving industrial hub that will help drive further progress and prosperity in Tijuana."

Attendees at the groundbreaking ceremony include Montserrat Caballero, Major of Tijuana; Miguel Ángel Bujanda Ruiz, Government Secretary of Tijuana; Juan Enrique Bautista, Secretary of Land, Urban, and Environmental Development of Tijuana; Ana Paula Corona, Promotion Director of the State of Baja California, on behalf of Kurt Honold, Secretary of Economy and Innovation of the State of Baja California; Simon Hanna, FIBRA Macquarie’s chief executive officer, Andrew McDonald-Hughes, FIBRA Macquarie’s chief financial officer, and Brett Robson, Global Head of Real Estate at Macquarie Asset Management.

About FIBRA Macquarie

FIBRA Macquarie México (FIBRA Macquarie) (BMV:FIBRAMQ) is a real estate investment trust (fideicomiso de inversión en bienes raíces), or FIBRA, listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) targeting industrial, retail and office real estate opportunities in Mexico, with a primary focus on stabilized income-producing properties. FIBRA Macquarie’s portfolio consists of 238 industrial properties and 17 retail properties, located in 20 cities across 16 Mexican states as of June 30, 2023. Nine of the retail properties are held through a 50/50 joint venture. For additional information about FIBRA Macquarie, please visit www.fibramacquarie.com.

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