REAL ESTATE : NAFTA Makes Mexico Even More Alluring as Firms Eye Opportunities
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Interest in Mexico is high among Orange County real estate companies, and the recent passage of the North American Free Trade Agreement should increase the lure.
For example, Koll Cushman Realty Mexico was recently tapped by AMC Entertainment, the multiplex theater chain based in Kansas City, as its exclusive real estate brokerage firm in Mexico City. The goal is to build 250 new movie screens in Mexico during the next two years, said Jim Watson, president of Koll International.
Koll Cushman, a joint venture between Cushman Realty Corp. in Los Angeles and Koll International in Newport Beach, will help AMC find the best Mexican cities and locations for new movie multiplexes.
“Generally speaking, NAFTA is positive news; we think it will increase growth,” Watson said. “To the extent that Orange County folks make a commitment to Mexico, yes, I would say there are many opportunities.”
Watson said Koll International is also on track to complete a 250,000-square-foot concrete manufacturing facility in Monterrey, Mexico, for Canadian-owned Northern Telecom, a supplier of digital telecommunications equipment.
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