Bajío

Monterrey, so the, the three industrial areas, four let's say, would be, would be Monterrey, which is the north.

Then Bajio, which would be San Luis Potosí and Silao, Querétaro, that area in central Mexico.

But Mexico City is the largest city.

The other one is Guadalajara.

...

Pacific Northwest, all that, yeah.

Pre- pretty much everything is covered, right? So Mexico City, Bajio, and Monterrey to pretty much everywhere, even Da- Dallas.

So Texas, LA, Pacific Northwest, Midwest, uh, the Northeast and the Southeast.

The relocation of manufacturing operations closer to consumer markets, known as nearshoring, remains a fundamental driver of industrial demand in Mexico, particularly in sectors such as automotive, aerospace, electronics, and advanced logistics.

This dynamic has generated absorptions exceeding millions of square meters and maintains regions such as Monterrey, Bajio, and the Mexico City metropolitan area as strategic centers for industrial investment.

However, this growth is not maintaining the explosive speed of previous years.

In some cases, the occupancy of industrial buildings has shown a moderation in the incorporation of new tenants, reflecting a market that is adjusting to new economic realities.

So this just, uh, consolidates, um, the western part of, of Mexico's, uh, transport that Essentia i-is, uh, servicing, uh, with this acquisition.

It, uh, it will now, uh, control that whole, uh, transport infrastructure, which will be-- is, is very important, uh, for the manufacturing sectors in the western part of Mexico, mainly the Guadalajara, uh, as well as the Aguascalientes region, which is a little bit more on the Bajío sides.

So I just wanted to mention it because we had mentioned, we had talked about the, the, the, the talks and the potential acquisition of that pipeline, uh, by Essentia from TC Energy, and now it's been finalized and completed.

That's right.

Um, but, but it's not, it's not enough.

Uh, it's not enough for the entire country.

We have seen the south of Mexico, you know, in a very different pace than the northern Mexico, El Bajío.

And it's not enough when you talk about, uh, infrastructure, for example, is...