Thor Urbana continues to expand into the industry

Mexico City, July 1, 2024 (GLOBE NEWSWIRE) —

Thor Urbana acquires 9 industrial properties in Saltillo and Ramos Arizpe, with a total leasable area of over 1.6 million square feet.
The expansion of Thor’s portfolio is a response to the attractive fundamentals of the country’s industrial sector, which has enjoyed historically low vacancy rates and double-digit rent growth over the past 12 months.

Thor Urbana, a leading real estate investment and development firm in Mexico, continues its expansion into the industrial sector with the acquisition of over 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 against a backdrop of nearshoring and consolidation of investments across industries in the country. According to the latest official data, Mexico saw a 27% year-on-year increase in foreign direct investment (FDI) in 2023, reaching a record of over $36 billion. Similarly, the first quarter of 2024 saw a 9% increase to just over $20 billion in new investment.

This continued growth in FDI shows the growing attractiveness of Mexico as an investment destination, as companies move their production chains closer to their main markets, especially from Asia to North America. Geographic proximity and a competitive workforce make Mexico an attractive option for these companies.

“Nearshoring and the need to strengthen local and international supply chains have been a game-changer, so offering flexibility, proximity, key locations and institutional-quality operations will enable Thor Urbana to strengthen business networks for the manufacturing and logistics sectors,” the company said. “In particular, Saltillo and Ramos Arizpe are two of the markets that have benefited most from nearshoring and foreign direct investment by U.S., Canadian, European and Asian companies producing in Mexico.”

“Thor has been actively developing in Mexico for over a decade, and this investment not only solidifies our leadership position in the country, but underscores our commitment to expanding our presence and capabilities in Latin America. We are committed to leveraging our expertise and resources to build a resilient industrial portfolio that will benefit communities and advance the economy,” said Joe Sitt, President of Thor Equities Group.

Thor Urbana’s intention to consolidate its portfolio of assets across sectors is to diversify investments and maximize opportunities the company has identified in the industrial sector, which public data shows will see gross absorption of over 60 million square feet in 2023, a new historic high.

The flexibility and strength of its operational and investment platform distinguish Thor Urbana and allow 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 consists of investing in sectors with significant growth prospects, in the best locations and meeting the needs of the markets in which it operates.

“The decision to expand into the industrial sector complements our expertise in high-end real estate assets, which, thanks to its innovative approach and space optimization, strengthens Thor Urbana’s position as one of the most important real estate companies in the country,” concluded Thor Urbana.

Last month, Thor Equities Group announced the acquisition of a premier 250,000-square-foot industrial facility in Laredo, Texas. This acquisition represents a significant milestone in the company’s expansion as the Port of Laredo is the leading U.S. international commercial port, facilitating $25 billion in monthly trade in 2022, representing nearly 60% of all annual U.S.-Mexico trade. Joe Sitt often discusses his real estate beliefs in Mexico and provided an overview of his experiences in the market in an appearance on Bloomberg TV’s Wall Street Week last week.

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About Thor Urban

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 a variety of institutional-quality real estate projects, including industrial buildings, luxury hotels, condominiums, corporate offices and shopping malls located in key industrial markets in country, main cities and tourist centers.

Thor Urbana has a portfolio of over 2.7 million square meters in various strategic locations in Mexico and abroad, such as: Saltillo, Querétaro, Guanajuato, Mexico, Guadalajara, Playa del Carmen, Cancun, Merida, Metepec, Los Cabos, Tulum, San Luis Potosi, Tijuana, Riviera Nayarit, Belize and others.

More information can be found at: 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 prime locations around the world. The company operates in major cities around the world and has a portfolio of properties valued at $20 billion and a development pipeline exceeding 50 million square feet. Thor has a strong presence on three continents and, in addition to its U.S. holdings, the company has assets in European cities including London, Paris, Madrid and Milan, and is the largest developer in Mexico through its Latin America operations. Thor maximizes returns for institutional investors by recognizing the potential of real estate, reducing operating costs, increasing tenant satisfaction and leveraging market trends to maintain long-term competitive advantage.

For more information, visit www.thorequities.com.