FIBRA Macquarie México Expands Development Program With New Tijuana Project

MEXICO CITY--(BUSINESS WIRE)--FIBRA Macquarie México (FIBRA Macquarie) (BMV: FIBRAMQ) announced it will develop up to four new Class A industrial buildings with a total potential GLA of approximately 750 thousand square feet on a 16-hectare land parcel in the Pacifico/Libramiento submarket of Tijuana.

This development is in a prime industrial corridor, offering strategic connectivity to two major US border crossings. The park is well-located within the surrounding area, providing access to skilled labor to support both manufacturing and logistics activities.

"This investment reinforces our commitment to expanding our development portfolio while maintaining our disciplined approach to capital deployment," said Simon Hanna, FIBRA Macquarie's chief executive officer. "The addition strengthens our presence in a strategic submarket of Tijuana, a well-located area with direct highway access. Our development strategy continues to focus on best-in-class sustainable construction with secured energy rights. Furthermore, we are pleased to be partnering again with Grupo FRISA, with whom we have enjoyed a strong and successful partnership for more than a decade. By maintaining our selective investment criteria and focus on strategic capital allocation, we're positioned to generate compelling returns that should enhance both our operational capabilities and financial results over the long term."

This is a 50-50 joint venture between FIBRA Macquarie and Grupo FRISA, who is currently FIBRA Macquarie’s JV partner in nine of its retail properties. Grupo FRISA is contributing the land parcel to the project, which minimizes FIBRA Macquarie’s immediate capital deployment requirements. The total investment is anticipated to be approximately US$88.0 million, with 50% of that to be progressively contributed by FIBRA Macquarie. The project is expected to deliver an NOI yield on cost of between 9% and 11%, in line with FIBRA Macquarie’s target returns.

FIBRA Macquarie’s scalable internal management platform, MPA, which has a strong existing local presence in Tijuana comprising specialist property management, leasing and engineering professionals, will provide on-going services for the project, enabling NOI margin optimization.

The land site is shovel-ready with initial earthworks in progress. The first planned building comprises approximately 200 thousand square feet, targeting a minimum LEED^® Gold certification.

About FIBRA Macquarie

FIBRA Macquarie México (FIBRA Macquarie) (BMV:FIBRAMQ) is a real estate investment trust (fideicomiso de inversión en bienes raíces), or FIBRA, listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) targeting industrial, retail and office real estate opportunities in Mexico, with a primary focus on stabilized income-producing properties. FIBRA Macquarie’s portfolio consists of 243 industrial properties and 17 retail properties, located in 20 cities across 16 Mexican states as of March 31, 2025. Nine of the retail properties are held through a 50/50 joint venture. For additional information about FIBRA Macquarie, please visit www.fibramacquarie.com.

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