FIBRA Prologis Signs 1.8 Million Square Feet of Leases in the Third Quarter
MEXICO CITY, Aug. 26, 2014 /PRNewswire-HISPANIC PR WIRE/ — FIBRA Prologis (BMV: FIBRAPL 14), the leading owner and operator of Class-A industrial real estate in Mexico, today announced that in the first half of the third quarter it signed 18 lease agreements, primarily related to renewals, totaling more than 1.8 million square feet.
Leasing activity is strong across global markets, particularly in Mexico City, where 1.3 million of the 1.8 million square feet were signed.
Notable leasing activity included:
Mexico City:
- 1.2 million square feet at Encino, Agave, Prologis Park Tres Rios and Prologis Park Carrizal.
Reynosa:
- 100,000-square-foot lease at Colonial Industrial Center.
“I am pleased with activity thus far in the quarter,” said Luis Gutierrez, chief executive officer, FIBRA Prologis. “This is a testament to our portfolio and skilled team. We are on our way to reaching our operating objectives for the back half of the year.”
ABOUT FIBRA PROLOGIS
FIBRA Prologis is the leading owner and operator of Class-A industrial real estate in Mexico. As of June 30, 2014, FIBRA Prologis was comprised of 177 strategically-located logistics and manufacturing facilities in six industrial markets in Mexico totaling 29.7 million square feet (2.8 million square meters) of gross leasable area.
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management’s beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust (“FIBRA”) status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, and (ix) those additional factors discussed in reports filed with the “Comision Nacional Bancaria y de Valores” and the Mexican Stock Exchange by FIBRA Prologis under the heading “Risk Factors.” FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
