# Vesta Real Estate Corporation, S.A.B. de C.V.

Summary updated: 2026-10-02T11:33:00.593413Z
Canonical: https://finbar.com/research/companies/vesta-real-estate-corporation-s-a-b-de-c-v

## Overview

Vesta Real Estate Corporation, S.A.B. de C.V. is a Mexican industrial real-estate company that owns, develops, manages and leases industrial parks and buildings, primarily to manufacturing and logistics businesses. Its operations are in Mexico, spanning 16 states and the Northwest, Northeast, Bajío-North, Bajío-South and Central regions. [1](https://app.finbar.com/go?id=P152507948) At year-end 2025, Vesta reported 231 buildings and approximately 43.0 million square feet of gross leasable area. [2](https://app.finbar.com/go?id=P152508312)

The company describes its mission as creating efficient, sustainable real-estate solutions through an enterprising team and a commitment to excellence. [3](https://vesta.com.mx/en/quienes-somos) Vesta began operations in 1998. [2](https://app.finbar.com/go?id=P152508312) For FY2025, it reported total revenue of approximately US$283.2 million and 116 employees. [4](https://app.finbar.com/go?id=P152509314)[5](https://app.finbar.com/go?id=P152508302)
[1](https://app.finbar.com/go?id=P152507948)[2](https://app.finbar.com/go?id=P152508312)[4](https://app.finbar.com/go?id=P152509314)[5](https://app.finbar.com/go?id=P152508302)[3](https://vesta.com.mx/en/quienes-somos)

## Products & services

Vesta’s products are industrial and logistics properties for light manufacturing and distribution. Its build-to-suit (BTS) facilities are designed with clients for specific requirements and can be modularly reconfigured. Inventory Buildings are developed to standard industry specifications without a lease signed to a particular customer, serving tenants that need space sooner or do not want a BTS project. The company also uses a spec-to-suit approach, leasing speculative buildings in advance while making tenant-specific adjustments. [6](https://app.finbar.com/go?id=P152508316)[7](https://app.finbar.com/go?id=P149991820)

Vesta’s Class A building profile typically includes concrete tilt-up construction, a clear height above 26 feet, more than one dock door per 10,000 square feet, and energy-efficient design; its property criteria also emphasize flexible use and locations along strategic trade corridors. Its service offering spans development, ownership, management and leasing of industrial assets. [8](https://app.finbar.com/go?id=P152507320)[9](https://app.finbar.com/go?id=P152508198)[1](https://app.finbar.com/go?id=P152507948) A specialized example is Querétaro Aerospace Park, an aerospace industrial cluster with maintenance, repair and overhaul, research and development, and design and engineering facilities. [10](https://app.finbar.com/go?id=P152508083)

At year-end 2025, the portfolio comprised 231 buildings and 42,954,022 square feet of gross leasable area, with 93.6% stabilized occupancy. [2](https://app.finbar.com/go?id=P152508312)[11](https://app.finbar.com/go?id=P152508343) Rental income was US$283.2 million in 2025, while management fees were reported as US$0.0 million when rounded; the reported figures indicate rental income accounted for virtually all revenue, with no separate revenue breakdown provided for BTS, inventory or spec-to-suit properties. [12](https://app.finbar.com/go?id=T17549219)
[6](https://app.finbar.com/go?id=P152508316)[7](https://app.finbar.com/go?id=P149991820)[8](https://app.finbar.com/go?id=P152507320)[9](https://app.finbar.com/go?id=P152508198)[1](https://app.finbar.com/go?id=P152507948)[10](https://app.finbar.com/go?id=P152508083)[2](https://app.finbar.com/go?id=P152508312)[11](https://app.finbar.com/go?id=P152508343)[12](https://app.finbar.com/go?id=T17549219)[12](https://app.finbar.com/go?id=T17549219)

## Geographic presence

Vesta’s industrial property operations are concentrated entirely in Mexico. Its 2025 reporting describes a portfolio spanning 16 Mexican states, organized across five regions: Northwest, Northeast, Bajío-North, Bajío-South, and Central Mexico. The company reported 231 buildings totaling approximately 42.95 million square feet of gross leasable area. [1](https://app.finbar.com/go?id=P152507948)[13](https://app.finbar.com/go?id=T17549208)

Named property markets include Aguascalientes, Ciudad Juárez, Guadalajara, Monterrey, Puebla, Querétaro, San Miguel de Allende, San Luis Potosí, Silao, Tijuana, Tlaxcala, and Toluca. The filing provides property-level rental income but no aggregate revenue or asset breakdown by country, state, or region; its reported rental income is company-wide rather than a geographic split. [13](https://app.finbar.com/go?id=T17549208) It also does not establish employee distribution or a broader corporate-office footprint. [1](https://app.finbar.com/go?id=P152507948)
[1](https://app.finbar.com/go?id=P152507948)[13](https://app.finbar.com/go?id=T17549208)

## Business segments

Vesta reports one operating segment: industrial parks and industrial buildings in Mexico, encompassing the ownership, development, management and leasing of properties serving light-manufacturing and logistics uses. The company does not present these uses or its Mexican regions as separate reportable segments; on that accounting basis, its business is 100% in the single industrial real estate segment. [1](https://app.finbar.com/go?id=P152507948)

For FY2025, Vesta reported US$259.17 million in rental income from its industrial-park portfolio, approximately 91.5% of reported rental income including reimbursements; reimbursements made up the remaining 8.5% and are not a separate business segment. [13](https://app.finbar.com/go?id=T17549208)
[1](https://app.finbar.com/go?id=P152507948)[13](https://app.finbar.com/go?id=T17549208)

## Company history

Vesta’s predecessor began operations in 1996, and the company was founded as Corporación Inmobiliaria Vesta in 1998. Its early growth included investment by Ned Spieker, CALPERS and DEG, and acquisition of a Guanajuato portfolio in 2000. In 2001, Vesta merged into QVC III, the surviving entity, which later returned to the Corporación Inmobiliaria Vesta name. [14](https://app.finbar.com/go?id=P152507937) [15](https://vesta.com.mx/en/linea-de-tiempo)

Vesta continued expanding through a 2007 joint venture with GE to develop an aerospace park in Querétaro and an acquisition in Ciudad Juárez. In 2011, it merged with CIV Real Estate and adopted its current corporate name, Vesta Real Estate Corporation, S.A.B. de C.V.; its shares began trading on the Mexican Stock Exchange in 2012. [14](https://app.finbar.com/go?id=P152507937) [15](https://vesta.com.mx/en/linea-de-tiempo) [16](https://ir.vesta.com.mx/news-events/press-releases/detail/78/vesta-announces-pricing-of-initital-public-offering-on-bmv)

Founder Lorenzo Manuel Berho Corona, who had led the company as CEO for 20 years, was succeeded by Lorenzo Dominique Berho Carranza in 2018 and became Executive Chairman in 2019. In 2023, Vesta completed a U.S. public offering of ADSs, which began trading on the New York Stock Exchange under ticker VTMX. [17](https://ir.vesta.com.mx/corporate-governance/management-team) [18](https://ir.vesta.com.mx/corporate-governance/board-members) [19](https://ir.vesta.com.mx/news-events/press-releases/detail/66/vesta-announces-pricing-of-initial-public-offering-of-us387-5-million-gross-proceeds-of-adss)
[14](https://app.finbar.com/go?id=P152507937)[15](https://vesta.com.mx/en/linea-de-tiempo)[16](https://ir.vesta.com.mx/news-events/press-releases/detail/78/vesta-announces-pricing-of-initital-public-offering-on-bmv)[17](https://ir.vesta.com.mx/corporate-governance/management-team)[18](https://ir.vesta.com.mx/corporate-governance/board-members)[19](https://ir.vesta.com.mx/news-events/press-releases/detail/66/vesta-announces-pricing-of-initial-public-offering-of-us387-5-million-gross-proceeds-of-adss)

## Sources

1. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152507948)
2. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152508312)
3. [vesta.com.mx](https://vesta.com.mx/en/quienes-somos)
4. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152509314)
5. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152508302)
6. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152508316)
7. [Vesta Real Estate Corporation, S.A.B. de C.V. — Transcript (2025 Y)](https://app.finbar.com/go?id=P149991820)
8. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152507320)
9. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152508198)
10. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152508083)
11. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152508343)
12. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17549219)
13. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17549208)
14. [Vesta Real Estate Corporation, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152507937)
15. [vesta.com.mx](https://vesta.com.mx/en/linea-de-tiempo)
16. [ir.vesta.com.mx](https://ir.vesta.com.mx/news-events/press-releases/detail/78/vesta-announces-pricing-of-initital-public-offering-on-bmv)
17. [ir.vesta.com.mx](https://ir.vesta.com.mx/corporate-governance/management-team)
18. [ir.vesta.com.mx](https://ir.vesta.com.mx/corporate-governance/board-members)
19. [ir.vesta.com.mx](https://ir.vesta.com.mx/news-events/press-releases/detail/66/vesta-announces-pricing-of-initial-public-offering-of-us387-5-million-gross-proceeds-of-adss)

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