Rising employment boosts Fibra Macquarie's quarterly revenues



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In the third quarter of 2018, the industrial portfolio of Fibra Macquarie Real Estate Investment Trust (FIBRAMQ) had a net operating income of more than 680 million pesos, which represented an advance of 3.5% over that recorded for the same period. period of the year. past year.

When announcing its quarterly report, the trust said the increase resulted from an annual growth of 206 basis points of employment, or 94.4%.

"The occupation is motivated by the strong leasing activity, the renewal of contracts and the sale of 35 industrial assets whose occupancy is below the portfolio average," he said.

He explained that the rental rate had increased 4.0% over the end of the third quarter of last year, reaching a weighted average closing of $ 4.80 per month and per square meter rented.

The above, he said, is mainly due to higher contracts and better results in the renovation and sale of industrial assets.

Similarly, he explained that during the reference quarter, FIBRAMQ signed 21 new lease and renewal contracts representing 1.5 million square feet of industrial space.

The contracts mentioned included seven new leases totaling 446,000 square feet and 14 renovations, representing 1.1 million square feet.

The most notable leases of the period, he said, concerned auto parts suppliers in Puebla, Monterrey and Queretaro, as well as a toolmaker in Ciudad Juárez.

The document indicated that the renovation activities were robust and diversified according to geography and types of customers, such as that performed for a global producer of health product packaging, that of a trailer producer. and another. of lighting products.

Regarding the commercial portfolio, he said, the net operating income generated in the third quarter of the year exceeded 144 million pesos, an increase of 4.3% over at the same time of the previous year.

He noted that this annual growth was due to a 4.4% increase in average monthly rental rates.

During the third quarter of the year, the Trust signed 43 leases, including 17 new leases and 26 renovations, for a total of 10,500 square meters.

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