Intelligent Real Estate Investments - Hines

Hines Celebrates Further Success in Industrial Development

Southwest Business Park announces 424,000 square feet of Pre-Leases

(HOUSTON) – Hines, the international real estate firm, announced today that Beltway Southwest Business Park, a master-planned, 75-acre business park in southwest Houston, has installed its first tiltwall panels and signed 424,000 square feet of pre-leases since the park was first announced less than nine months ago. Beltway Southwest can accommodate more than 950,000 square feet of logistics space. With 734,000 square feet currently under construction, the park is 60 percent pre-leased.

The first phase of Beltway Southwest will deliver in June 2016, and is comprised of two buildings, an 110,000-square-foot rear-load building and a 240,000-square-foot cross-dock building, and can accommodate tenants ranging in size from 18,000 square feet to 240,000 square feet.

Dräger, an international leader in the fields of medical and safety technology, has pre-leased 40,000 square feet of space within the rear-load building to house local operations for their safety division. The firm was represented in the transaction by Andre Granello of Cresa Houston.

Additionally, Hines has recently signed two build-to-suit leases in the park totaling 384,000 square feet. Maintenance Supply Headquarters, an industry-leading national distributor of maintenance supply products serving the multifamily industry, has agreed to a long-term lease for their corporate headquarters and local distribution center within the park. The 209,000-square-foot cross-dock building is currently under construction and will feature Class A building characteristics including 32’ clear height, fully secured 130’ truck courts, and numerous distinctive architectural features and amenities within their 25,000-square-foot corporate office space. Completion is scheduled for the third quarter of 2016. Maintenance Supply was represented by Bill Littleton, Bill Byrd, Mike Taetz, and Ryan Byrd of Colliers international in the transaction. Homelegance, Inc., an international wholesale furniture maker and distributor, has also signed a build-to-suit lease for the construction of a 175,000-square-foot facility to support their local distribution operations. The front-load building will feature 30’ clear height with expansion capability and is scheduled for completion in the fourth quarter of 2016. Homelegance was represented in the transaction by Walker Barnett and Casey Ricksen of Colliers International.

Hines Director Charlie Meyer commented, “Beltway Southwest is our most recent addition to the Hines business park initiative in Houston and it has received an excellent response from the market. We are looking forward to a long partnership with our first anchor tenants, MSH, Homelegance and Dräger, along with Hiram Clark TIRZ 25, all of whom have been an integral part of the development.”

Maintenance Supply Headquarters President, Richard Penick, added, “For us, our new building represents the achievements of an incredible group of selfless individuals who have put in countless hours and a great deal of hard work. We are extremely proud to be a part of the Beltway Southwest Business Park and we are beyond grateful for this opportunity as this building represents a new chapter in the future success of Maintenance Supply Headquarters. Our working partners in this project including Hines, Architects Plus and EE Reed have been tremendous to work with through the entire process and we look forward to its completion as well as a long-term partnership with Hines.”

Located at the northeast corner of Beltway 8 and Fort Bend Tollway, Beltway Southwest Business Park provides prominent visibility and convenient access to major highways for all distribution needs. Beltway Southwest Business Park is exclusively represented for leasing by Jim Foreman, Beau Kaleel and Allison Hall of Cushman & Wakefield.

Hines’ industrial and logistics experience spans the development of more than 38 million square feet, the acquisition of 13 million square feet and management of more than 35 million square feet globally.

About Hines
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 199 cities in 19 countries. Hines has $87 billion of assets under management, including $43 billion for which Hines provides fiduciary investment management services, and $44 billion for which Hines provides third-party property-level services. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,100 properties, totaling over 346 million square feet. The firm’s current property and asset management portfolio includes 531 properties, representing over 186 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.

About Maintenance Supply Headquarters
Maintenance Supply Headquarters (MSH) is a wholesale maintenance supplier primarily to the multifamily industry. Founded in 2007, Maintenance Supply Headquarters is a national company with locations in Texas, Georgia, Indiana, Nevada, Arizona, Ohio, Indiana, North Carolina, California, Washington and Florida. For more information visit www.supplyhq.com.

About Homelegance, Inc.
Founded in California in 1984, Homelegance, Inc. wholesales furniture in the United States, Canada and other countries in the world. The company’s mission is to offer various products with style, value, quality and variety to dealers and local retailers domestically and internationally. Homelegance has locations in San Francisco Bay Area and Santa Fe Springs, California; Phoenix, Arizona; El Paso, Grand Prairie, and Houston, Texas; Itasca, Illinois; Atlanta, Georgia; Cranbury, New Jersey; Orlando, Florida; and Concord and Vancouver, Canada. For more information visit www.homelegance.com.

About Dräger
Dräger is an international leader in the fields of medical and safety technology. Founded in 1889, Dräger generated revenues of around EUR 2.43 billion in 2014. The Dräger Group is currently present in more than 190 countries and has about 13,500 employees worldwide. Please visit www.draeger.com for more information.