- 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.
Attachment
