Key Takeaways
- • Hines is financially backing 2.3 million square feet of advanced manufacturing space across Texas, Arizona, Florida and California, according to CoStar.
- • The firm expects US manufacturing construction spending to rise to $1 trillion by 2030.
- • Listed projects include Phase II Buildings E and F at 2304 Reed Rd and Mills 249 Logistics in Houston, Cherry Point in Newark, CA, and Building D in Surprise, AZ.
- • Hines contacts named in the story include Managing Directors Sam Cheikh and Laura Denkler, and Managing Partner and Global Head of Real Estate Steve Luthman.
Summary
Global real estate firm Hines is making a significant commitment to the revival of US advanced manufacturing by financially backing 2.3 million square feet of industrial space in Texas, Arizona, Florida and California, according to CoStar. The firm's view is that US manufacturing construction spending will rise to $1 trillion by 2030, which underpins the expansion of its exposure in these markets.
The CoStar report lists several properties tied to the strategy. These include Phase II Buildings E and F at 2304 Reed Rd in Houston, Mills 249 Logistics at 8887 Mills Rd in Houston, Cherry Point at 38083 Cherry St in Newark, California, and Building D at the northeast corner of Loop 303 and Cactus Road in Surprise, Arizona. The properties span both established and emerging industrial hubs, reflecting a geographic spread across the Sun Belt and West Coast.
Hines personnel named in the article include Managing Directors Sam Cheikh and Laura Denkler, and Steve Luthman, Managing Partner and Global Head of Real Estate. The full article is available only to CoStar subscribers, so additional deal terms, capital structure and financing details are not available in this summary.
The CoStar report lists several properties tied to the strategy. These include Phase II Buildings E and F at 2304 Reed Rd in Houston, Mills 249 Logistics at 8887 Mills Rd in Houston, Cherry Point at 38083 Cherry St in Newark, California, and Building D at the northeast corner of Loop 303 and Cactus Road in Surprise, Arizona. The properties span both established and emerging industrial hubs, reflecting a geographic spread across the Sun Belt and West Coast.
Hines personnel named in the article include Managing Directors Sam Cheikh and Laura Denkler, and Steve Luthman, Managing Partner and Global Head of Real Estate. The full article is available only to CoStar subscribers, so additional deal terms, capital structure and financing details are not available in this summary.
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