As a result of the increase in demand for industrial buildings that nearshoring has brought, Meor is developing new industrial parks in Northern Mexico.
Border states are key to Meor; in 2022, the industrial land developer announced a USD300 million investment to develop several industrial parks under the HubsPark brand.
“The HubsPark brand effort will continue throughout 2024 and 2025 as we plan to develop more industrial parks. Demand is still on the rise, mainly in Northern Mexico. We operate in Tijuana, Baja California and Ciudad Juarez, Chihuahua, as well as Monterrey, Nuevo Leon, and Guadalajara, Jalisco, Additionally, we also have a few built to suit projects in other parts of Mexico. Vacancy availability in these markets is practically zero, there simply aren’t any industrial building available,” mentions Mr. Jonathan Pomerantz, Chief Information Officer (CIO) at Meor.
Meor is leasing its industrial building even before construction is complete. “If we consider our finished industrial buildings plus those which are still works in progress, we own a total of 513,000 square meters. Fifty per cent are fully developed, and the remaining fifty per cent are under construction,” says Mr. Pomerantz.
The HubsPark industrial parks are Class A projects with industrial buildings that starting at a 32-feet height and featuring tilt-up walls. They are suitable for logistics and manufacturing for industries such as automotive, medical, electronic and semiconductors, to name a few.
The HubsPark industrial parks located in Tijuana and Ciudad Juarez are 30 minutes away from the border, and the parks in Monterrey are strategically positioned near workforce centers and have easy access to the highways that lead to the border. In 2024, HubsPark will announce the launch of a project that will be located between the urban zone and the airport in Monterrey, in the west, precisely where the Tesla gigafactory is being built.
“Our parks are safe; they are gated and have 24/7 surveillance. We aim to locate our facilities near to urban areas to ensure people have an easy commute to and from work. Moreover, all our industrial parks are LEED certified and we put in place improvement programs for the neighborhoods around us. We have introduced the Hola Vecino (Hi Neighbor) program in our new developments to help us understand the needs of the area. We intend to assign a per centage of our investment to make improvements in the area such as roads, bus stops and curbs, which are highly appreciated by our leaseholders,” points out Mr. Jonathan Pomerantz.
In early 2024, Meor will announce its industrial park development plan for the next two years.
