FIBRA NEXT Acquires 15 Industrial Properties From Centinela for US$138.2 Million

FIBRA NEXT continues to expand its presence in Mexico’s industrial real estate market. The trust recently announced the acquisition of the Atlas Portfolio from Centinela Property, consisting of 15 industrial properties totaling 183,461 square meters of gross leasable area (GLA). Valued at US$138.2 million, the transaction adds to a series of acquisitions completed during 2026, through which the real estate investment trust has committed more than MXN$8 billion in investments to incorporate stabilized and development assets into its portfolio.

The Atlas Portfolio assets originate from the Noreste, Frontera, Plus and TMW projects of the IGS3CK17 CKD managed by Centinela. According to the company, the acquisition increases FIBRA NEXT’s industrial exposure in strategic markets across northern Mexico and the Bajío region while adding lease agreements with predominantly manufacturing companies. For Centinela, the transaction represents a partial divestment of the CKD and the monetization of assets acquired and developed since the vehicle was launched in 2017.

Although the individual list of properties included in the Atlas Portfolio was not publicly disclosed, SiiLA identified the assets comprising the portfolio. The portfolio is distributed across five states: Chihuahua accounts for 41.6% of GLA, followed by Coahuila (28.6%), Guanajuato (16.4%), Tamaulipas (8.5%) and Baja California (4.9%). Its tenant mix confirms the manufacturing focus described by the company, with more than 90% of the occupied space leased to manufacturers. Smurfit Westrock and Lear Corporation are the two largest tenants, occupying 25,720 and 21,615 square meters, respectively. Standard Profil Group, Motherson and Gentherm are also among the portfolio’s tenants.

Atlas represents FIBRA NEXT’s third acquisition of 2026, following Calopark and Triple Home Run. Together, these transactions have added 629,103 square meters of stabilized and development assets, representing portfolio growth of 8.3% compared with year-end 2025.

However, the expansion strategy may continue in the coming months. The trust’s Technical Committee recently approved the acquisition of the Saturno Portfolio, which would increase the GLA added during 2026 to more than 1.1 million square meters, equivalent to portfolio growth of nearly 15% compared with the portfolio at the end of 2025. The transaction also includes an option to acquire an additional 19,673-square-meter property from the Atlas Portfolio for US$14.8 million over the next 12 months.

To access details on each property, its tenants and the cap rate associated with this and other FIBRA NEXT transactions, visit SiiLA Market Analytics or contact us at contacto@siila.com.mx.