{"id":1004193939,"date":"2017-10-17T05:17:41","date_gmt":"2017-10-17T13:17:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004193939"},"modified":"2022-12-08T19:52:00","modified_gmt":"2022-12-09T03:52:00","slug":"grupo-igs-snags-3-msf-mexico-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/","title":{"rendered":"Grupo IGS Snags 3 MSF Mexico Industrial Portfolio"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004193951\" style=\"width: 356px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004193951\" data-attachment-id=\"1004193951\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/hines-mexico-industrial\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"One of the 27 properties included in the portfolio\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;One of the 27 properties included in the portfolio&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg?w=800\" class=\"wp-image-1004193951 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg\" alt=\"One of the 27 properties included in the portfolio\" width=\"346\" height=\"269\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 346px) 100vw, 346px\" \/><\/a><p id=\"caption-attachment-1004193951\" class=\"wp-caption-text\">One of the 27 properties included in the portfolio<\/p><\/div>\n<p>Hines sold a 2.9 million-square-foot portfolio of <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-buys-houston-logistics-park-for-155m\/\">industrial and logistics<\/a> assets in Mexico to Grupo IGS. The portfolio comprises 27 properties located in Monterrey, Ciudad Juarez, Matamoros, Reynosa and Torreon.<\/p>\n<p>Some major tenants include DalTile, Yazaki, Flextronics, GE and Sumitomo. The portfolio\u00a0was one of the first investments made by a Hines&#8217; separate account investor.<\/p>\n<h2>Portfolio Growth\u00a0<\/h2>\n<p>Since assuming management of the portfolio two years ago, Hines and its listing brokers of CBRE, Simons y Asociados, Citius Capital, and Newmark\/Prodensa, brought the portfolio to 90 percent leased up from its previous 73 percent. The companies also increased the average lease rate by 20 percent.\u00a0<\/p>\n<p><em>\u201cWe worked extremely hard on the management and leasing of this portfolio. This strategic sale marks a significant accomplishment for our investment partner, for Hines, and for our leasing and management teams,\u201d<\/em> said Palmer Letzerich, senior managing director at Hines, in prepared remarks. <em>\u201cWe are looking forward to redeploying capital in Mexico and continuing our Investment in the logistics sector.\u201d<\/em><\/p>\n<p>Savills represented Hines in the transaction.\u00a0<\/p>\n<p><em>Image courtesy of Hines\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company purchased the 27-property portfolio from Hines, which assumed management of it two years prior. Along with its listing brokers, Hines brought the portfolio from 73 to 90 percent leased.<\/p>\n","protected":false},"author":746,"featured_media":1004193951,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,16,21742],"tags":[32797,37981,34107],"class_list":["post-1004193939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-international","category-latest","tag-hines","tag-palmer-letzerich","tag-savills"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Grupo IGS Snags 3 MSF Mexico Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grupo IGS Snags 3 MSF Mexico Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"The company purchased the 27-property portfolio from Hines, which assumed management of it two years prior. Along with its listing brokers, Hines brought the portfolio from 73 to 90 percent leased.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-17T13:17:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:52:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/\",\"name\":\"Grupo IGS Snags 3 MSF Mexico Industrial Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg\",\"datePublished\":\"2017-10-17T13:17:41+00:00\",\"dateModified\":\"2022-12-09T03:52:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hines-mexico-industrial.jpg\",\"width\":800,\"height\":620,\"caption\":\"One of the 27 properties included in the portfolio\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/grupo-igs-snags-3-msf-mexico-industrial-portfolio\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Grupo IGS Snags 3 MSF Mexico Industrial Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. 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