FIBRA Upsite Announces Two Build to Suit Property Lease Contracts ("BTS")

FIBRA Upsite has signed two build-to-suit lease contracts for their parks in Juárez and Tijuana, representing a significant 54% portfolio growth.
The contracts involve companies in the renewable energy and e-commerce industries, contributing to FIBRA Upsite's expansion and highlighting their strong lease portfolio and occupancy rate.

Two industrial buildings like this one, from FIBRA Upsite, were absorbed. Photo: Fertinig.

By: SiiLA News & SiiLA News

12/23/2020

FIBRA Upsite has announced the signing of two build-to-suit (BTS) lease contracts within their "Upsite Juárez Park I" and "Upsite Tijuana Park I" with a combined Gross Rentable Area (GBR) of 29,335 square meters. This represents a significant 54% growth in their current portfolio.

The first BTS contract involves the German company Saertex, operating in the renewable and clean energy industry, which will establish its operations in Ciudad Juárez, Chihuahua. The contract is denominated in US dollars and has a 60-month term, with an estimated stabilized Cap Rate of 13.5%. The second BTS contract is with the American company Printful, operating in the e-commerce industry, expanding its operations in Tijuana, Baja California. This contract is also denominated in US dollars and has a 60-month term, with an estimated stabilized Cap Rate of 11.8%.

These two contracts highlight FIBRA Upsite's growth engine driven by its existing customer base and strategic business model. The company maintains a 100% occupancy rate with a portfolio of strong lease contracts and one of the longest lease profiles in the industry. All of FIBRA Upsite's income is denominated in foreign currency.

For more information and insights on FIBRAs in Mexico, visit SiiLA FIBRA Analytics or contact us at contacto@siila.com.mx.

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