{"id":1004475232,"date":"2020-09-02T03:14:44","date_gmt":"2020-09-02T11:14:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004475232"},"modified":"2020-09-02T03:15:05","modified_gmt":"2020-09-02T11:15:05","slug":"hines-global-acquires-silicon-valley-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/","title":{"rendered":"Hines Global Acquires Silicon Valley Industrial Portfolio"},"content":{"rendered":"
\"\"

Advanced Manufacturing Portfolio, Santa Clara, Calif. Image courtesy of Hines<\/em><\/p><\/div>\n

Hines Global Income Trust, a public, non-listed REIT sponsored by Hines, has acquired the Advanced Manufacturing Portfolio, a massive industrial and manufacturing campus in Santa Clara, Calif. The 417,000-square-foot  asset was acquired for $107.1 million from DRA Advisors, according to a filing with the Securities and Exchange Commission.<\/p>\n

The AMP, a four-building campus providing light manufacturing and research and development space, is fully leased to 10 tenants. Located in the heart of Silicon Valley, the site provides proximity to major technology tenants as well as a premier high-tech talent pool.<\/p>\n

\n

READ ALSO:<\/strong> Industrial Real Estate Faces Short-Term Decline in NAIOP Report<\/a><\/p>\n

\n

Demand for light manufacturing and R&D space has grown in Silicon Valley in recent years but there is not enough space to meet the demand, said Sam Cheikh, managing director in the Hines Bay Area office, in prepared remarks. Cheikh added that the international real estate firm believes in the long-term supply and demand fundamentals of the product type, which has proven to be resilient to economic downturns.<\/p>\n

Janice Walker, COO of Hines Global Income Trust, said the transaction further diversifies the REIT\u2019s global portfolio and provides investors with exposure to a well-located, strategic asset in Silicon Valley.<\/p>\n

The acquisition, which marks the third industrial and logistics closing for Hines Global in 90 days, increases the REIT\u2019s industrial presence worldwide. In July, Hines Global acquired a logistics asset in the U.K.<\/a> from AEW UK Investment Management\u2019s AEW UK Core Property Fund for \u00a320.635 million ($25.7 million). The 207,115-square-foot property in Wakefield, West Yorkshire, is fully leased to Integrated Third Party Logistics.<\/p>\n

Hines is a longtime investor and developer in the industrial sector with a global track record of 314 projects in 12 countries. The firm has acquired 38 million square feet of space and developed 45 million square feet around the globe and has 8 million square feet of industrial projects under construction or in design.<\/p>\n

DRA Advisors Deals<\/strong><\/h2>\n

DRA Advisors, an investment advisor specializing in real estate investment and management for institutional and private investors, has $10 billion in assets under management across various sectors. The firm has about 405 industrial properties totaling 56 million square feet.<\/p>\n

Last month, a joint venture of DRA Advisors and The Kane Co. Inc. acquired The Manchester Logistics Center,<\/a> a 725,000-square-foot facility in Manchester, N.H., that is home to True Value\u2019s Northeast regional distribution operations. In December 2019, DRA Advisors acquired a 16.3 million-square-foot industrial portfolio<\/a> consisting of 106 warehouses in 16 markets in the Southeast, Southwest and Midwest from Sealy Strategic Equity Partners LP for $908.5 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

DRA Advisors sold the 417,000-square-foot Advanced Manufacturing Portfolio in Santa Clara for $107.1 million.<\/p>\n","protected":false},"author":1068,"featured_media":1004475238,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,36079,15],"tags":[33919,45569],"class_list":["post-1004475232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-san-jose","category-west","tag-dra-advisors-llc","tag-hines-global-income-trust"],"acf":[],"yoast_head":"\nHines Global Acquires Silicon Valley Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines Global Acquires Silicon Valley Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"DRA Advisors sold the 417,000-square-foot Advanced Manufacturing Portfolio in Santa Clara for $107.1 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-02T11:14:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-02T11:15:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Advanced-Manufacturing-Portfolio-Santa-Clara-Calif.-Image-courtesy-of-Hines.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/\",\"name\":\"Hines Global Acquires Silicon Valley Industrial Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Advanced-Manufacturing-Portfolio-Santa-Clara-Calif.-Image-courtesy-of-Hines.jpg\",\"datePublished\":\"2020-09-02T11:14:44+00:00\",\"dateModified\":\"2020-09-02T11:15:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Advanced-Manufacturing-Portfolio-Santa-Clara-Calif.-Image-courtesy-of-Hines.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Advanced-Manufacturing-Portfolio-Santa-Clara-Calif.-Image-courtesy-of-Hines.jpg\",\"width\":800,\"height\":620,\"caption\":\"Advanced Manufacturing Portfolio, Santa Clara, Calif. Image courtesy of Hines\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Hines Global Acquires Silicon Valley Industrial Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Hines Global Acquires Silicon Valley Industrial Portfolio - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/","og_locale":"en_US","og_type":"article","og_title":"Hines Global Acquires Silicon Valley Industrial Portfolio","og_description":"DRA Advisors sold the 417,000-square-foot Advanced Manufacturing Portfolio in Santa Clara for $107.1 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2020-09-02T11:14:44+00:00","article_modified_time":"2020-09-02T11:15:05+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Advanced-Manufacturing-Portfolio-Santa-Clara-Calif.-Image-courtesy-of-Hines.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/","url":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/","name":"Hines Global Acquires Silicon Valley Industrial Portfolio - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Advanced-Manufacturing-Portfolio-Santa-Clara-Calif.-Image-courtesy-of-Hines.jpg","datePublished":"2020-09-02T11:14:44+00:00","dateModified":"2020-09-02T11:15:05+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Advanced-Manufacturing-Portfolio-Santa-Clara-Calif.-Image-courtesy-of-Hines.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Advanced-Manufacturing-Portfolio-Santa-Clara-Calif.-Image-courtesy-of-Hines.jpg","width":800,"height":620,"caption":"Advanced Manufacturing Portfolio, Santa Clara, Calif. Image courtesy of Hines"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-silicon-valley-industrial-portfolio\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Hines Global Acquires Silicon Valley Industrial Portfolio"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Advanced-Manufacturing-Portfolio-Santa-Clara-Calif.-Image-courtesy-of-Hines.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004475232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004475232"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004475232\/revisions"}],"predecessor-version":[{"id":1004475247,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004475232\/revisions\/1004475247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004475238"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004475232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004475232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004475232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}