FIBRA Prologis Reports Mixed Q2 2026 Results Amid Strong Rent Growth
Event summary
- Net effective rents on rollover increased by 40.8%, driven by Mexico City and Tijuana.
- Occupancy rates declined year-over-year to 95.8% (period-end) and 96.1% (average).
- Customer retention dropped significantly to 60.8% from 86.0% in Q2 2025.
- Same-store cash NOI surged by 13.1%, led by rent changes and annual increases.
- Net earnings per CBFI turned negative at (US$0.0285), down from US$0.0915 in Q2 2025.
The big picture
FIBRA Prologis' Q2 2026 results highlight a dynamic industrial real estate market in Mexico, with strong rent growth offset by declining occupancy and customer retention. The company's strategic focus on high-quality Class-A properties positions it well for long-term value creation, but near-term challenges in tenant retention and occupancy stabilization will be critical to monitor.
What we're watching
- Rent Growth Sustainability
- How FIBRA Prologis will maintain high net effective rent increases amid market volatility.
- Occupancy Recovery
- Whether the company can reverse declining occupancy trends in key markets like Monterrey and Guadalajara.
- Customer Retention Strategy
- The pace at which FIBRA Prologis addresses its significant drop in customer retention rates.
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