FIBRAs: A Glimpse into the Robust Commercial Real Estate Market in Mexico

In the dynamic landscape of the Mexican commercial real estate market, have emerged as key players, propelling growth and stability in the sector. With a total inventory exceeding 28.5 million square meters, these entities have established a significant presence across various categories, including industrial, commercial, office, and hotels.

According to data compiled by  SiiLA Market Analytics until the third quarter of 2023, the industrial sector accounts for 71% of the total inventory, representing over 20 million square meters. Commercial space follows with 17% (almost 5 million square meters), offices with 7%, and the remaining 5% allocated to other uses. It's worth noting that these figures exclude square meters dedicated to the hotel industry, which has recorded 18,600 rooms.

The geographic distribution of these investments is extensive, spanning from urban areas to key industrial regions throughout the country. In this vast landscape, FUNO (FIBRA Uno) stands out as the FIBRA with the largest inventory, surpassing 11 million square meters. Despite strategic divestments, FUNO remains the undisputed leader in each of the contemplated assets or uses.

Following FUNO, FIBRA Prologis (FIBRAPL) emerges as the second-largest player, with just over 4 million square meters. Terrafina  (TERRA) follows closely with just under 4 million square meters, FIBRA Macquaire (FIBRAMQ) with 3.3 million square meters, and FIBRA Monterrey (FMTY) with 1.6 million square meters.

Among the total 16 FIBRAs, half own properties with multiple uses, including offices, industrial, or retail. The remaining FIBRAs focus exclusively on a single use, showcasing the diversity of strategies in the market. For instance, some, like Prologis, Terrafina, Storage, and Up, concentrate solely on industrial assets, while others, such as FIBRA Shop, Educa, FIBRA Inn, and FIBRA Hotel, specialize in specific segments like commercial, educational, and hotel respectively.

This detailed analysis reveals the strength and diversification of the Mexican commercial real estate market, led by FIBRAs, whose impact extends across various facets of the national economy. With sustained and strategic growth, these trusts continue to solidify their role as fundamental pillars in the country's development.

For more information on this and other topics related to the commercial real estate market, explore SiiLA REsource or reach out to us at contacto@siila.com.mx.