FIBRA Macquarie México announced the execution of a 183 thousand square foot lease for the first phase of its recently completed industrial development in Apodaca, Nuevo Leon in the Monterrey region of Mexico. The building will be 100%-occupied by a United States-based manufacturer of electric vehicle components. The triple-net 10-year lease is U.S. dollar denominated and represents an NOI yield of 10.4%.

The building has been built in accordance with the U.S. Green Building Council's®LEED® v4.1 Building Design and Construction: Core and Shell Development specifications and is expected to achieve a minimum Gold level certification. The project has a total investment cost of USD 12.7 million and is expected to begin contributing to FIBRA Macquarie's NOI in second quarter of 2023. The completion of this project demonstrates FIBRAMQ's commitment to delivering best-in-class developments in core markets with attractive returns.