FIBRA Macquarie México Expands Industrial Footprint with Strategic Acquisition in Tijuana
FIBRA Macquarie México one of Mexico’s leading real estate investment trusts (FIBRAs), has announced a landmark acquisition of a 124-hectare land parcel located in Tijuana’s prominent Boulevard 2000 submarket. The transaction, valued at US$113.8 million excluding transaction costs and applicable taxes, represents the largest development project undertaken by FIBRA Macquarie to date, marking a significant milestone in the company’s ambitious industrial growth strategy.
The acquired parcel features prominent frontage along one of Tijuana’s most dynamic industrial corridors, offering a prime location for large-scale industrial development. FIBRA Macquarie plans to transform this strategic landholding into a phased, multi-year development of a Class A industrial park that will meet a minimum LEED® Gold standard, reflecting the company’s ongoing commitment to sustainable and environmentally responsible development. With this project, FIBRA Macquarie anticipates achieving a stabilized yield on cost within the target range of 9% to 11%, underscoring the financial attractiveness of the acquisition and its alignment with the company’s long-term growth objectives.
Structured Payment Terms Support Strategic Growth
The acquisition has been structured with a carefully planned payment schedule spanning three years, designed to optimize financial flexibility while maintaining a disciplined capital deployment strategy. The initial cash payment of US$19.9 million was completed on February 19, 2026, followed by additional payments of US$19.9 million in subsequent months, US$39.8 million scheduled for February 2027, and a final payment of US$34.1 million in February 2028. All payments are exclusive of transaction costs and applicable taxes, reflecting a phased approach that supports FIBRA Macquarie’s ongoing capital management and development plans.
Simon Hanna, Chief Executive Officer of FIBRA Macquarie, emphasized the strategic significance of the acquisition: “We are very excited to add this strategic land parcel in Tijuana to our diversified land bank. This acquisition supports our accretive growth objectives and represents a major step forward in the execution of our industrial growth capex program. With 90 MW of dedicated energy capacity and complementary infrastructure in place, this project is uniquely positioned to attract and retain a high-quality, long-term customer base.”
Tijuana: A Key Industrial Growth Hub
The Boulevard 2000 submarket in Tijuana has long been recognized as one of the most compelling industrial investment locations in Mexico. It benefits from its proximity to the U.S. border, robust infrastructure, and strong labor market, making it a preferred destination for companies looking to expand or relocate operations. This region is witnessing significant long-term demand due to nearshoring trends, as companies increasingly seek to establish manufacturing and distribution operations closer to the United States to optimize supply chains, reduce transit times, and mitigate geopolitical and logistical risks.
Maite Burbano, FIBRA Macquarie’s Head of M&A, highlighted the strategic opportunity: “The Boulevard 2000 submarket represents one of the most attractive long-term investment opportunities in Mexico’s industrial landscape. Tijuana’s industrial ecosystem is growing rapidly, driven by strong nearshoring trends and the city’s established manufacturing base. The development of this park will not only create substantial economic and social benefits, including job creation for nearby communities, but will also strengthen FIBRA Macquarie’s position as a leading industrial developer in Mexico.”
Project Vision and Sustainable Development
FIBRA Macquarie’s vision for the Tijuana industrial park is ambitious yet focused. The development will be executed in multiple phases over several years, allowing the company to respond flexibly to market demand while maintaining high construction and operational standards. The park will adhere to LEED® Gold certification, reflecting a commitment to sustainable design, energy efficiency, and environmental stewardship. Such certifications are increasingly important to tenants seeking green facilities and reflect broader trends in corporate ESG (Environmental, Social, and Governance) responsibility.
The project’s infrastructure plans include 90 MW of dedicated energy capacity, which will support reliable operations for large industrial tenants, including those in manufacturing, logistics, and distribution sectors. The combination of high-quality construction standards, strategic location, and dedicated energy capacity positions the park as a highly competitive offering in Mexico’s industrial real estate market. By attracting and retaining tenants seeking modern, sustainable, and energy-efficient facilities, FIBRA Macquarie anticipates a stable long-term occupancy profile that will contribute positively to its revenue and cash flow.
Strengthening FIBRA Macquarie’s Land Bank and Portfolio
With the acquisition of the Tijuana parcel, FIBRA Macquarie’s total land bank for industrial development now stands at approximately 8.5 million square feet of buildable gross leasable area (GLA). This strategic expansion enhances the company’s ability to respond to growing demand in Mexico’s industrial real estate market, particularly in key submarkets that benefit from nearshoring dynamics and cross-border trade.
FIBRA Macquarie’s diversified portfolio currently includes 245 industrial properties and 17 retail properties across 20 cities in 16 Mexican states. The company maintains a strong focus on stabilized, income-producing assets while continuing to identify high-potential development opportunities that enhance long-term growth and shareholder value. Of the 17 retail properties, nine are held through a 50/50 joint venture, highlighting the company’s collaborative approach to portfolio expansion and risk management.
Industrial Market Trends Supporting Growth
Mexico’s industrial real estate market has experienced significant growth over the past several years, fueled by a combination of domestic economic expansion, nearshoring trends, and foreign direct investment in manufacturing and logistics operations. The Tijuana submarket, in particular, has become a focal point for industrial expansion due to its proximity to the U.S. border, access to skilled labor, and strong transportation networks.
Experts note that demand for modern, Class A industrial facilities is outpacing supply in many key regions, creating opportunities for developers and investors such as FIBRA Macquarie. The company’s phased approach to development allows it to match supply with market demand, mitigating vacancy risk while optimizing capital deployment. By maintaining high construction and operational standards, FIBRA Macquarie aims to attract premium tenants seeking facilities that meet international operational and sustainability standards.
Economic and Social Impact
Beyond financial considerations, the development of the Boulevard 2000 industrial park is expected to have a meaningful social and economic impact on the Tijuana region. The project will generate employment opportunities during both the construction and operational phases, supporting local communities and contributing to broader regional economic development. Local suppliers, contractors, and service providers are also likely to benefit from the project, creating a positive multiplier effect within the local economy.
Moreover, the project aligns with broader trends in corporate responsibility and ESG practices. By delivering a LEED® Gold-certified facility, FIBRA Macquarie demonstrates a commitment to sustainable development practices that reduce environmental impact, enhance energy efficiency, and promote long-term operational sustainability. This focus not only meets growing tenant demand for green facilities but also supports regulatory compliance and corporate social responsibility objectives.
Leadership Perspective
FIBRA Macquarie’s leadership emphasizes the strategic importance of this acquisition in the context of the company’s overall growth strategy. Simon Hanna noted that the Tijuana project represents a major milestone, providing significant momentum to the industrial growth capital expenditure program. He highlighted the potential for the park to become a flagship development within the company’s portfolio, attracting high-quality tenants and strengthening FIBRA Macquarie’s market presence in a key industrial corridor.
Maite Burbano added that the acquisition reflects a long-term commitment to industrial real estate development in Mexico. The company’s approach combines rigorous market analysis, strategic land acquisition, and phased development to create sustainable, high-value assets that deliver consistent returns to investors. She emphasized that the Boulevard 2000 submarket offers a unique combination of location, infrastructure, and growth potential, making it a highly compelling investment opportunity.
