Investor Presentation FIBRA PROLOGIS
Mexico Logistics Real Estate Fundamentals¹
DEMAND (T12M) VS SUPPLY PIPELINE
(MSF)
DEMAND VS SUPPLY
(MSF)
Mkt Vacancy
44
1.1%
Mexico City
40
VACANCY
(%)
36
Monterrey
0.9%
32
0.6%
Guadalajara
28
6
FIBRA
PROLOGIS
• Market vacancy of 1.4%, near
historical lows
10
8
2
We expect limited quality
supply in the most desired
locations (particularly Mexico
City) to lead to a decline in net
absorption for 2024. Well-
located product with energy is
expected to continue to lease-
up well.
We expect low double-digit
market rent growth in 2024
driven by the very limited
supply.
Nearshoring in Northern
Mexico and e-commerce
adoption are the main drivers
of demand
24
Juarez
3.3%
20
4
16
1.8%
Reynosa
Tijuana
0
5
10
10
15
20
Net absorption LTM
■ BTS
■Spec
1.3%
12
84
0
2013
Completions
24F
Net Absorption
Vacancy Rate
Sources: Prologis Research with information from Solili, CBRE.
1. Note: Defined as modern logistics market, inclusive of only those facilities with advanced functional
features and/or superior locations, deemed to be competitive with Prologis.
Data as of December 31, 2023
Sources: Prologis Research
Note: Completions equate to supply while net absorption is equivalent to
demand
0
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