FIBRA Storage Expands Alongside a Changing City

FIBRA Storage continues expanding its operating network with the opening of Cuemanco, located in the Xochimilco borough of Mexico City, which becomes the 37th operating property in its nationwide portfolio.

The real estate investment trust currently owns 44 properties, including seven land parcels: four in Mexico City, two in Monterrey, and one in Tijuana. According to SiiLA and company data, its operating properties total approximately 218,000 square meters (2.35 million square feet) of gross leasable area, while its land holdings cover just under 40,000 square meters.

So far in 2026, FIBRA Storage has added two properties to its portfolio and increased its operating assets from 34 to 37 since the end of 2025. Cuemanco is part of that operational expansion, having entered service on land that the trust had owned for more than seven years.

The opening also marks the arrival of Guardabox in Mexico City. The brand is part of FIBRA Storage’s operating platform, which manages self-storage facilities under both the U-Storage and Guardabox brands, reflecting the trust’s strategy of expanding both banners as it acquires and develops new assets.

Cuemanco’s opening also comes during a period of expansion for the trust. During the second quarter of this year, it invested approximately MXN 110 million across five developments. At the same time, its stabilized properties continued improving performance: occupancy increased from 81.7% to 84.8% over the past year, while the effective monthly rental rate rose 6.6%. That combination drove a 10.7% increase in revenue per available square meter (RevPAM), contributing to 16.1% revenue growth and a 16.7% increase in net operating income (NOI).

Beyond the quarter’s financial results, the trust’s expansion also offers insight into how cities are evolving. For decades, homes, offices, and retail properties met much of their own storage needs through basements, patios, storage rooms, or archive areas. However, as land values increased and available space within buildings became more limited, part of that function shifted to specialized facilities. Self-storage emerged precisely to absorb that function.

In that sense, opening new facilities is not simply a response to stronger demand for self-storage units. It also represents a long-term bet that this outsourcing of storage will continue, as each new development assumes that households and businesses will continue finding greater value in dedicating their own square footage to living, producing, or selling while moving the storage of belongings and inventory to specialized infrastructure.

If that trend continues, the growth of self-storage and operators such as FIBRA Storage will depend less on the accumulation of goods than on the increasing specialization of space, in a scenario where storage ceases to be a secondary function of buildings and becomes a real estate use in its own right.

For more analysis on the performance of Mexico’s FIBRAs, visit SiiLA FIBRA Analytics or contact us at contacto@siila.com.mx.