Tapping into Nearshoring Gold: Fibra Macquarie's Tijuana Industrial Play and the ESG Edge

The U.S.-Mexico nearshoring boom is reshaping industrial real estate, and Fibra Macquarie México's $90 million Tijuana Industrial Expansion stands at the epicenter of this transformation. By marrying strategic location, sustainability-driven design, and a proven track record in industrial assets, the project positions itself as a high-yield, low-risk investment in a sector primed for growth. Here's why this plays out as a win-win for investors.

The Nearshoring Surge and Tijuana's Strategic Position

U.S. firms are accelerating their shift from Asia to Mexico to shorten supply chains, reduce costs, and mitigate geopolitical risks. Tijuana, just 20 miles from San Diego, is a nearshoring hotspot, offering a skilled labor force, proximity to ports, and robust infrastructure. Fibra Macquarie's 25-hectare Libramiento submarket project—a 875,000-square-foot industrial park—directly targets this demand. The first phase (410,000 sqft) delivered by early 2024 is now leasing, while the full site is designed to host companies seeking efficiency and sustainability.

Fibra Macquarie's Tijuana Project: Scale and Sustainability

The project's three state-of-the-art buildings incorporate energy-efficient designs and green certifications like EDGE, aligning with the International Finance Corporation (IFC)'s decarbonization goals. This isn't just about optics: ESG integration is hardwired into financial incentives. In July 2024, the IFC provided a $150 million sustainability-linked loan, with terms tied to Fibra Macquarie's green-certified portfolio expansion. For instance, a 5 basis-point refinancing rate reduction was achieved in 2023 after meeting ESG targets—a clear example of how ESG compliance translates to cost savings.

The project also benefits from Fibra Macquarie's 9–11% NOI yield target, which balances risk and return. With occupancy in its industrial portfolio at 94.7% as of Q1 2025 and vacancy rates below 3% in key markets, demand is not just theoretical—it's already fueling rental growth.

ESG as a Value Multiplier

Fibra Macquarie's sustainability focus isn't incidental. By April 2025, 41.8% of its GLA held green certifications, a 192-basis-point jump year-over-year. This attracts U.S. firms under pressure to meet ESG reporting standards, particularly in sectors like manufacturing and logistics. The IFC's Green Pathways program further strengthens this edge, funding energy efficiency upgrades and decarbonization efforts.

The Tijuana project's sustainability-linked financing structure and partnerships (e.g., with the IFC and local governments) also reduce execution risks. This dual focus on ESG and nearshoring demand creates a moat against competitors, as tenants increasingly prioritize both cost efficiency and environmental accountability.

Track Record and Financial Resilience

Fibra Macquarie's portfolio spans 38 properties in Tijuana alone, already hosting 57 companies. Its Apodaca project (200,000 sqft delivered Q3 2024) and Guadalajara's 460,000 sqft pipeline demonstrate a disciplined growth strategy. Crucially, 69.6% of its debt is tied to sustainability metrics, signaling financial prudence and alignment with global ESG trends.

With U.S. nearshoring FDI hitting $29 billion in early 2023, demand for Class A industrial space is structural. Fibra Macquarie's focus on low-vacancy markets and green assets ensures it captures this upside while mitigating risks from macroeconomic volatility.

Investment Thesis: High-Yield, Low-Risk Play

The Tijuana expansion is a textbook case of risk-adjusted growth:
1. Nearshoring Tailwinds: U.S. firms are relocating to Mexico at a record pace, with Tijuana's strategic location and labor pool making it a magnet.
2. ESG Premium: Green-certified assets command higher rents and tenant retention. Fibra Macquarie's 41.8% green portfolio already outperforms peers.
3. Proven Operator: The firm's 94.7% occupancy and disciplined capex (focusing on 9–11% NOI yields) signal operational excellence.

Risks and Considerations

Geopolitical tensions or a sudden U.S. economic slowdown could temper demand. However, Fibra Macquarie's diversified portfolio (spanning Tijuana, Guadalajara, and others) and ESG-linked financing reduce reliance on any single factor.

Final Take: A Nearshoring and ESG Double Play

Fibra Macquarie's Tijuana project is a rare convergence of secular trends: nearshoring's industrial demand and the global push for sustainable infrastructure. With a 94.7% occupancy rate, IFC-backed sustainability, and a track record of disciplined growth, this is a must-watch investment for those seeking exposure to Mexico's industrial boom without excessive risk. For income-focused investors, the 9–11% NOI targets provide steady returns, while the ESG premium offers long-term appreciation potential.

The nearshoring revolution is here—and Fibra Macquarie is building the infrastructure to capitalize on it.