(HOUSTON) – Representatives from Hines, the international real estate firm, were on hand at a celebration today to commemorate the opening of Alfa Laval’s build-to-suit within Pinto Business Park, Hines’ largest industrial park in northwest Houston.
The private grand opening was held at the new location, which was completed in December 2015. Guests in attendance included Alfa Laval employees, sales representatives and customers, project partners and brokers.
The Alfa Laval build-to-suit is a 105,600-square-foot, crane-served, tiltwall light manufacturing facility that will consolidate all of the company’s Houston operations into one building and will house over 140 employees. The building includes 25,000 square feet of Class A office space in addition to 80, 600 square feet of manufacturing space, featuring 30’ clear height, 52’ x 45’ column-bay spacing, and five crane bays designed to hold a capacity of between 10 and 50 tons. Alfa Laval employees relocated completely to Pinto Business Park in January 2016.
“We are excited to organize and create greater efficiencies in our business processes by bringing all of our Houston-based employees together into our new facility in the Pinto Business Park,” said John Atanasio, president and CEO of Alfa Laval Inc. “Previously in three separate locations, this move will allow us to capitalize on a better use of our total footprint, and provide opportunities for our colleagues to have increased collaboration on a daily basis.”
Pinto Business Park is being developed through a joint venture between Hines, Pinto Real Estate Development, Inc., and Kohlberg Kravis Roberts & Company, LP, and is the largest, fully entitled, contiguous tract of land located inside Beltway 8 and outside the 500-year floodplain. The business park has established itself as a flexible location for all industrial uses, including large-scale cross-dock requirements for pure distribution; smaller, higher finish rear-load uses as well as assembly and manufacturing. In addition, all current uses in the park exemplify the efficiency achievable through consolidations of each tenant's local and regional distribution and manufacturing operations. When fully built out, the park represents an opportunity of 8,000,000 square feet and a potential investment of more than $900 million.
“Alfa Laval is an excellent example of the trend toward efficiency and consolidation that we are seeing in Houston and beyond among many major manufacturing and distribution companies. Hines’ reputation for quality and meeting deadlines combined with the flexibility in parcel size and modern infrastructure offered in Pinto Business Park provides a cost-effective solution to these companies in all size ranges. We look forward to a long-term relationship with Alfa Laval.,” said Charlie Meyer, managing director at Hines.
About Alfa Laval
Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling.
The company’s equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol.
Alfa Laval’s products are also used in power plants, aboard ships, for oil and gas exploration and production, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration applications.
Alfa Laval’s worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena. Alfa Laval is listed on Nasdaq OMX, and in 2015, posted annual sales of approximately 4.25 billion Euros. The company has about 17,500 employees. Visit www.alfalaval.com for more information.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
Pinto Real Estate Development, Inc.
Pinto Real Estate Development, Inc. a wholly owned subsidiary of Cockrell Interests LLC serves as a diversified real estate investment and development platform that focuses on strategic real estate investment. Its current portfolio includes large urban in-fill land development, a 450-acre deepwater industrial port focused on coal export and crude storage, and numerous other strategic land holdings and cash flow assets. In addition to strategic one-off deals, Pinto Real Estate Development, Inc. seeks exposure to markets it believes are attractive by identifying and forming relationships with talented managers.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 182 cities in 20 countries. Hines has $89.1 billion of assets under management, including $42.5 billion for which Hines provides fiduciary investment management services, and $46.6 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,126 properties, totaling over 351 million square feet. The firm’s current property and asset management portfolio includes 457 properties, representing over 193 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.