Industrial Market Report

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1 Industrial Report Northeast Mexico 1Q 2014 Tamaulipas, Nuevo Leon, Coahuila, Chihuahua Americas Research

2 Northeast Mexico Industrial Overview JLL s Industrial Services is a dedicated team focused 100% on customer service and industrial real estate solutions offered in a uniform and coordinated manner between our offices in Mexico City and Monterrey, Tijuana and Guadalajara.

3 3 Northern Mexico industrial report 1Q 2014 Northeast s Overview City Total Stock (s.f.)1q14 Availability (s.f.)1q14 Vacancy Rate Total Absorption (s.f.) Construction 2014 Average Lease Rate (usd/s.f./year) Apodaca 42,499,803 3,263,747 8% 298, ,332 $4.56 Ciénega de Flores 11,032, ,668 7% 287, ,997 $4.56 Escobedo 10,792, ,326 7% 96,498 $4.56 Guadalupe 11,578,620 2,486,567 21% 162,500 $4.56 Monterrey 577, ,500 17% 180,586 $4.56 San Nicolas 2,423,687 Sta. Catarina / Garcia 20,013,956 1,023,021 5% 98, ,000 $4.56 TOTAL MMA 98,918,559 8,327,829 8% 961, ,829 $4.56 Saltillo / Ramos Arizpe 23,413,702 1,522,945 7% 471, ,883 $4.68 Reynosa 29,377,813 2,164,693 7% 422,964 $4.16 Nuevo Laredo 8,665,000 1,115,620 13% $3.60 Matamoros 17,685,917 1,526,984 9% $4.20 Cd. Juárez 61,266,280 6,868,929 11% 371,373 $4.20 Chihuahua 17,002, ,101 5% $4.00 TOTAL NORTHEAST 256,329,640 22,302,100 9% 2,227,648 1,648,712 $4.20 Northern Mexico Property Clock 1Q 2014 Bottoming Chihuahua, Nuevo Laredo Monterrey Matamoros Saltillo, Ramos. A, Derramadero Reynosa, Cd. Juarez

5 Northern Mexico industrial report 1Q outlook Monterrey Metropolitan Area Industrial During the first months of 2014, the Monterrey Metropolitan Area recorded increasing amount of activity with the search of space with an absorption of 1 M. Big boxes are now scarce in this market, so developers have started to plan and construct new buildings in the all the Metro Area. Key Indicators Total Stock 1Q14 98,918,559 Availability 8,327,829 Average lease rate (USD//year) $4.56 Vacancy rate 9% Total absorption 961,575 Monterrey Saltillo Industrial outlook This market still remains as one of the most active markets in Northern Mexico due to its strategic location an excellent industrial market conditions. Saltillo is the base for mayor manufacturing plants like Chrysler, GM, Freightliner, John Deere and opening this year FIAT that has encouraged the markets growth in the Derramadero area specifically. Because of the lack of space in this market, developers, such as Davisa, Finsa and Avante have started to construct new buildings. This market remains as one of the most active in the north of Mexico, attracting a variety of clients. Key Indicators Total Stock 1Q14 23,413,702 Availability 1,522,945 Average asking rate (USD//year) $4.68 Vacancy rate 7% Total absorption 471,736 Saltillo, Derramadero, Ramos Arizpe

6 6 Northern Mexico industrial report 1Q 2014 Reynosa Industrial outlook The city of Reynosa is connected to McAllen, Texas by three bridges: McAllen-Hidalgo-Reynosa International Bridge, Pharr-Reynosa International Bridge and Anzalduas Bridge, These bridges help to facilitate international trade. An increase in industrial activities have been registered for 1Q Investment in new projects is not expected by institutional developers as the market has spaces to offer. Lease rates are still low. Key Indicators Total Stock 1Q14 29,377,813 Availability 2,164,693 Average lease rate (USD//year) $4.16 Vacancy rate 7% Total absorption 422,964 Reynosa Matamoros Industrial outlook Matamoros shelters approximately 140 maquiladoras dedicated mostly for US export, this represent a great part of the Matamoros economy, including the import-export of the fabricated products in the city. During the last couple of years low lease rates have prevailed and companies know that they have great opportunities to expand and install their operations within this market. This have caused new investments in the market during An increase in industrial activities is expected during the Key Indicators Total Stock 1Q14 17,685,917 Availability 1,526,984 Average lease rate (USD//year) $4.20 Vacancy rate 9% Total absorption - Matamoros

7 Northern Mexico industrial report 1Q Nuevo Laredo Industrial outlook Nuevo Laredo s economy is based on commercial and industrial importing and exporting between Mexico and United States, and has a complex infrastructure to expedite merchandise flow between those two countries. Nuevo Laredo offers its import/export services by land or railroad, merchandise distribution and consulting services. This market is very attractive for logistics companies, because of the easy access and infrastructure the city provides for its international crossings. Prices and rent conditions are favorable for tenants. Investment in this market is still lower than expected. Key Indicators Total Stock 1Q14 8,665,000 Availability 1,115,620 Average lease rate (USD//year) $3.60 Vacancy rate 13% Nuevo Laredo Total absorption - Chihuahua Industrial outlook Chihuahua, the State capital and is located in a privileged geographic region, at approximately 231 miles from the U.S. by the federal highway 45 in Mexico. The activity in this market has been quite slow in the past months. The market is tenant favorable with low lease rates. Key Indicators Total Stock 1Q14 17,002,369 Availability 775,101 Average asking rent (USD//year) $4.00 Vacancy rate 5% Chihuahua Total absorption -

8 8 Northern Mexico industrial report 1Q 2014 Cd. Juárez Industrial outlook Ciudad Juarez is considered one of the most populated Northern border-cities of the country. Located near El Paso, TX., its population makes it the eighth biggest metropolitan area in Mexico. Throughout the city we can find exclusive industrial zones which include 17 industrial parks that shelter more than 279 companies. Lease rents are still in favor of tenants, also, significant spaces are available for lease and this helps reactivate the market s industrial activity. This situation has provided the expansion of companies already settled in the market. There has been no reported construction for the last years. Key Indicators Total Stock 1Q14 61,266,280 Availability 6,868,929 Average lease rate (USD//year) $4.20 Vacancy rate 11% Total absorption 371,373 Cd. Juarez

10 About JLL JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. For further information, visit JLL Northern Mexico Monterrey Office Gerardo Ramirez gerardo.ramirez@am.jll.com Agahira Guevara agahira.guevara@am.jll.com Calzada del Valle 112 Ote, Col. del Valle, San Pedro Garza García, NL Mexico Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.

Industrial Market Report

Industrial Market Report Industrial Report Northeast Mexico 1Q 2016 Tamaulipas, Nuevo León, Coahuila, Chihuahua Americas Research Northeast Mexico Industrial Overview JLL s Industrial Services is a dedicated team focused 100%