Vesta signs two lease deals for 570,000 square feet in Monterrey

Corporación Inmobiliaria Vesta (NYSE: VTMX; BMV: VESTA) announced two new lease agreements totaling more than 570,000 square feet in Monterrey, Mexico.

The Mexican industrial real estate company leased two buildings at Vesta Park Apodaca to European companies that specialize in industrial manufacturing and production of equipment for critical infrastructure and specialized supply chains, according to a company statement.

The transactions are part of Vesta's Route 2030 strategic growth plan. Mario Chacón, Vesta's chief commercial officer, said the company is seeing demand for space related to the data center sector in North America.

Vesta owns, manages, develops and leases industrial properties in Mexico. As of March 31, 2024, the company owned 231 properties across 16 Mexican states, totaling 43.0 million square feet of gross leasable area.

The company serves clients across automotive, aerospace, retail, technology, pharmaceuticals, electronics, food and beverage, and packaging industries.

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