- Thor Urbana acquires
9 industrial properties in Saltillo and Ramos Arizpe, totaling more
than 1.6 million square feet of leasable area.
- The expansion of
Thor's portfolio responds to the attractive fundamentals of the
national industrial sector, boasting a historic low vacancy rate
and a double digit increase in rents during the last 12
months.
Thor Urbana, a leading real estate investment and development
company in Mexico, continues its expansion in the industrial sector
with the acquisition of more than 1.6 million square feet of
leasable space dedicated to the manufacturing and logistics sectors
in the markets of Saltillo and Ramos Arizpe, Coahuila.
Thor Urbana's announcement comes in the context of nearshoring
and the consolidation of investments in various industries in the
country. According to the latest official figures, Mexico recorded
a 27% year-on-year increase in foreign direct investment (FDI) in
2023, reaching a record of more than US$36 billion. Similarly, in
the first quarter of 2024, there was a 9% growth to just over US$20
billion in new investments.
This continued increase in FDI shows the growing attractiveness
of Mexico as an investment destination, driven by the phenomenon of
companies relocating their production chains to be closer to their
main markets, especially from Asia to North America. Geographical
proximity and a competitive labor force make Mexico an attractive
option for these companies.
"Nearshoring and the need to strengthen local and international
supply chains have changed the rules of the game, so offering
flexibility, proximity, key locations and an operation of
institutional quality will allow Thor Urbana to potentiate business
networks for the manufacturing and logistics sectors," stated the
company. "Specifically, Saltillo and Ramos Arizpe are two of the
markets that that have benefited the most from nearshoring and
foreign direct investment by American, Canadian, European and Asian
companies that manufacture in Mexico".
“Thor has been actively developing in Mexico for over a decade,
and this investment not only solidifies our position as a leader in
the country but underscores our commitment to expanding our
presence and capabilities in Latin America. We are dedicated to
leveraging our expertise and resources to build a resilient
industrial portfolio that will benefit communities and contribute
to economic progress,” said Chairman of Thor Equities Group, Joe
Sitt.
Thor Urbana's intention to consolidate a portfolio of assets in
different sectors is to diversify investments and maximize the
opportunities the company has identified in the industrial sector,
which, according to public data, will record a gross absorption of
more than 60 million square feet in 2023, a new historic high.
The flexibility and strength of its operating and investment
platform differentiates Thor Urbana and allows it to take advantage
of the boom that the industrial sector is experiencing in Mexico.
This is in line with the strategy that has characterized the
company since its inception, which is to invest in sectors with
significant growth prospects in the best locations and to meet the
needs of the markets in which it operates.
"The decision to expand into the industrial sector complements
our expertise in prime real estate assets, which, with a disruptive
sense and space optimization, consolidate Thor Urbana as one of the
most important real estate companies in the country," concludes
Thor Urbana.
Last month, Thor Equities Group announced the acquisition of a
premier 250,000 square foot industrial facility in Laredo, Texas.
The acquisition marks a significant milestone in the company's
expansion with the Port of Laredo being the United States’ leading
international trade port, having facilitated $25 billion in trade
value per month over 2022 representing nearly 60% of all annual
trade between the USA and Mexico. Joe Sitt often discusses his
conviction in real estate in Mexico, and gave an overview of his
experience in the market in an appearance on Bloomberg TV’s Wall
Street Week last week.
###
About Thor Urbana
Thor Urbana is a leading real estate development and investment
company in Mexico. Through a vertically integrated platform, the
company specializes in the search, acquisition, development,
operation, repositioning, marketing and sale of various
institutional-quality real estate projects including industrial
buildings, luxury hotels, residential communities, corporate
offices and shopping centers located in the country's premier
industrial markets, major cities and tourist destinations.
Thor Urbana has a portfolio of more than 2.7 million square
meters in different strategic locations in Mexico and abroad, such
as Saltillo, Querétaro, Guanajuato, Mexico City, Guadalajara, Playa
del Carmen, Cancun, Merida, Metepec, Los Cabos, Tulum, San Luis
Potosi, Tijuana, Riviera Nayarit, Belize, among others.
For more information please visit: www.thorurbana.com.
About Thor Equities Group
Thor Equities is a leader in the development, leasing and
management of industrial, laboratory, residential, office, hotel
and mixed-use assets in premier locations worldwide. The company
operates in major cities around the globe and has a property
portfolio totaling $20 billion with a development pipeline in
excess of 50 million square feet. Thor has a strong presence on
three continents and in addition to its US holdings, the company
has assets in European gateway cities including London, Paris,
Madrid, and Milan, and is the largest developer in Mexico through
its Latin American division. Thor maximizes returns for
institutional investors by recognizing a property’s potential,
reducing operating expenses, increasing tenant satisfaction, and
leveraging market trends to maintain a long-term competitive
edge.
For more information, visit www.thorequities.com.
Katie Smith
Thor Equities Group
5514867218
ksmith@Thorequities.com