Strong Revenue Growth
Total income for the third quarter reached $72.4 million, a 13.7% year-over-year increase. Excluding energy, total income was $69.9 million, reflecting a 14.5% increase.
High Occupancy Rates
Stabilized and same-store occupancy reached 94.3% and 94.8%, respectively, demonstrating strong tenant retention and demand.
Successful Land Acquisition
Vesta acquired 330 acres of land in Monterrey, enhancing its strategic positioning and near-shoring capabilities.
Improved Financial Guidance
Vesta revised its full-year EBITDA margin guidance to 84.5%, up from 83.5%, due to strong expense control and revenue growth.
Positive Leasing Activity
Leasing activity for the third quarter reached 1.7 million square feet, with strong demand from advanced manufacturing and logistics companies.