Global real estate investment, development and management firm Hines is set to begin the construction of El Convento CityPark in Mexico City, a logistics park development center that will include more than 1.7 million square feet of Class AAA logistics and distribution space in eight buildings.
(Commercial Property Executive) After selling a 2.9 million-square-foot portfolio of industrial and logistics assets in Mexico to Grupo IGS, Hines began work on Phase One of El Convento CityPark in Mexico City, Mexico, a logistics park development in the CTT submarket. Hines has selected Abitat as its general contractor for the project. Construction is set to begin by the end of 2017, with the first two buildings scheduled for completion in the second quarter of 2018.
Phase One of CityPark comprises three buildings, totaling more than 1 million square feet, which will offer newly constructed cross-dock and front-load configurations available for lease upon completion. Convento CityPark will feature a total of eight buildings and more than 1.7 million square feet of Class AAA logistics and distribution space.
“We are extremely excited to begin the development of CityPark,” said Hines Director Daniel Manos, in prepared remarks. “The project enjoys immediate access to Highway 57 inside the toll booth at Tepotzotlan and features 32-foot clear heights and multiple building configurations, including a 50,000-square-meter [538,195-square-foot] cross-dock building. As with all Hines industrial/logistics developments, we are including tenant amenities—in this case a multi-use sports field. The park offers the best access in the market along with top-of-market building specs, truck queuing and trailer storage.”