{"id":1004535508,"date":"2021-05-19T02:08:31","date_gmt":"2021-05-19T10:08:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004535508"},"modified":"2022-12-09T02:34:59","modified_gmt":"2022-12-09T10:34:59","slug":"hines-global-acquires-amazon-fulfillment-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-amazon-fulfillment-center\/","title":{"rendered":"Hines Global Acquires Amazon Fulfillment Center"},"content":{"rendered":"
\"\"<\/a>

Image by falco via Pixabay.com<\/p><\/div>\n

Hines Global Income Trust has acquired an e-commerce fulfillment center in Jeffersonville, Ind., that\u2019s fully leased to Amazon. The REIT acquired the nearly 1 million-square-foot property from KTR Indy II LLC, according to Commercial Edge data.<\/p>\n

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READ ALSO<\/strong>: W. P. Carey Enhances Portfolio With $170M in Buys<\/a><\/p>\n

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Located at 900 Patrol Road, the fulfillment center is approximately 12 miles north of downtown Louisville, Ky., which has access to UPS Worldport, three interstate highways and two class-one railroads. Omar Thowfeek, Hines Global\u2019s managing director of investments, said in prepared remarks that the property\u2019s location near Louisville gives it access to major highways and a deep labor pool from the area.<\/p>\n

Will Renner, managing director at Hines, also said in prepared remarks that the property can reach large U.S. population centers and benefits from the Louisville metro\u2019s scarcity of developable land.<\/p>\n

Industrial-heavy portfolio<\/h2>\n

The acquisition of the fulfillment center represents the seventh investment in the logistics sector in the past year for Hines Global. Renner added in his prepared statement that Louisville will be a key market for the REIT\u2019s continued industrial activity across the Midwest, as the city has the ability to reach roughly 100 million people within a nine-hour drive.\u00a0<\/p>\n

The REIT\u2019s portfolio also includes a 417,000-square-foot industrial and manufacturing campus<\/a> in Santa Clara, Calif., that was purchased for $107.1 million in September 2020. Thowfeek also said in prepared remarks that the REIT remains bullish on the industrial sector.<\/p>\n

Hines Global\u2019s portfolio currently totals 15 industrial assets located in the U.S., the U.K., the Netherlands, Poland, Germany and Spain. The industrial assets make up more than half of the portfolio\u2019s overall value of $2 billion, with more than a quarter of the portfolio being residential and the remainder split between retail and office properties. According to Hines Global, the portfolio was 93 percent leased as of March 31.<\/p>\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The REIT\u2019s acquisition of a nearly 1 million-square-foot property in Jeffersonville, Ind., marks its seventh logistics investment this year.<\/p>\n","protected":false},"author":883,"featured_media":1004474491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,13,21742],"tags":[37482,32914,32797,45569],"class_list":["post-1004535508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-midwest","category-latest","tag-amazon","tag-e-commerce","tag-hines","tag-hines-global-income-trust"],"acf":[],"yoast_head":"\nHines Global Acquires Amazon Fulfillment Center - 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-amazon-fulfillment-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines Global Acquires Amazon Fulfillment Center\" \/>\n<meta property=\"og:description\" content=\"The REIT\u2019s acquisition of a nearly 1 million-square-foot property in Jeffersonville, Ind., marks its seventh logistics investment this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-amazon-fulfillment-center\/\" \/>\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=\"2021-05-19T10:08:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:34:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/logistics-pixabayimage.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"960\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\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-amazon-fulfillment-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hines-global-acquires-amazon-fulfillment-center\/\",\"name\":\"Hines Global Acquires Amazon Fulfillment Center - 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