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Corporación Inmobiliaria Vesta, S.A.B. de C.V.(NYSE:VTMX) is one of the 8 Best Real Estate Stocks to Buy Beyond REITs. On May 26, the company announced that it had entered into two new lease agreements for over 570,000 square feet of land in Monterrey, Mexico.

In a statement, the real estate firm said the two buildings located within the Vesta Park Apodaca industrial park were leased to European firms engaged in industrial manufacturing and the production of industrial equipment linked to critical infrastructure and specialized supply chains.

Vesta said the operations of the two companies will strengthen North America’s industrial ecosystem and contribute to the growth of strategic sectors, particularly those engaged in data center infrastructure. It added:

“With these transactions, Vesta continues to consolidate its position as one of the leading developers of industrial infrastructure in Mexico, driving projects aligned with the trends of digitalization, nearshoring and expansion of industrial capabilities in the region.”

On May 4, Barclays increased its price target on Vesta to $41 from $40 while maintaining an Overweight rating on the stock following the company’s first quarter earnings report. It noted that noting that the company had an “overall strong set of results.” For the first quarter of the year, Vesta reported a 14.4% rise in its rental income to $76.7 million from $67.1 million in the same period a year ago.

Corporación Inmobiliaria Vesta, S.A.B. de C.V.(NYSE:VTMX) is a Mexico-based real estate owner, developer, and asset manager of industrial buildings and distribution centers.

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