MEXICO CITY-Newmark Grubb Mexico City has successfully negotiated a lease for Cartró S.A.P.I. de C.V. to establish an advanced corrugated sheet and box-making plant on the outskirts of Mexico City.
The agreement secures the 251,251-square-foot manufacturing space in Tepotzotlán, Mexico, for a 15-year term. Cartró is a joint venture between Corrugated Synergies International, a corrugated packaging company based in Renton, WA, and CEMSA (Carton y Empaques, S.A.), a Mexican cardboard manufacturer that currently occupies 70,000 square feet of industrial space at another location in Mexico City.
The new, recently constructed space will house a sheet feeder operation, which automatically handles corrugated sheets for precision printing, cutting and other processes involved in the fabrication of cardboard boxes. The Mexico City operation will be the 10th sheet feeder established by Corrugated Synergies International. The company plans to open another sheet feeder in 2014 at a plant under development in Midlands, England.
CEMSA will continue in its current location and augment its operations with the new Cartró plant at Av. Industrial s/n Barrio Tlacateco. Cartró's space is part of a 580,000-square-foot industrial park owned by a Mexican REIT that was represented by CBRE.
“This substantial expansion underscores Mexico's continued prominence as a top, global manufacturing center. ” said Giovanni D'Agostino, president of Newmark Grubb Mexico City. “This is another important example of multinational corporations choosing Mexico as their point for expansion, rather than other countries such as China or Brazil, due to Mexico's competitiveness in both human resources and overall costs, as well as its role as a strategic logistics network close to the United States”
Newmark Grubb Mexico City managing partner Jay Mulay has previously worked with CEMSA, and built on that relationship to land the tenant representation assignment from Cartró.
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
