Vesta is a Mexican industrial real estate company that develops, owns, and leases Class A industrial properties — primarily manufacturing facilities and logistics/distribution centers — across 16 Mexican states. As of year-end 2025, Vesta's portfolio comprised 231 buildings totaling roughly 43 million square feet of GLA at a 93.6% stabilized occupancy rate. The tenant base includes global manufacturers and logistics operators such as Mercado Libre, Nestlé, Foxconn, Nissan, and Bombardier, with light manufacturing representing about 59% of GLA and automotive the largest single sector at roughly 32%. Vesta collects rent on long-term leases (typically 5–15 years) that are roughly 90% USD-denominated and indexed to CPI annually, providing inflation protection and FX stability. Vesta builds both spec buildings and build-to-suit facilities, outsourcing all construction to third parties through competitive bidding rather than managing it internally. The company creates value by developing at roughly 10% yields and recycling stabilized assets at 6–7% cap rates, redeploying that capital into new development. Vesta's "Route 2030" plan targets roughly 63 million square feet of GLA by 2030, requiring approximately $1.7B of capital, with roughly 90% of the necessary land already secured. The strategy is tied explicitly to Mexico's growing role as a nearshoring hub for North American manufacturing, with key focus markets in Monterrey, Guadalajara, and Mexico City.