2022 is the year of the industrial warehouse in the world of commercial real estate.
It might sound ho-hum, but you know what’s sexy? $4.9 billion.
That’s how much the Perot family company Hillwood is expected to bank in the sale of industrial buildings totaling 28 million square feet to CBRE, the Dallas Morning News reports.
The deal includes dozens of properties in the United States and Europe — 33 in the U.S. and 24 in Germany, Poland and the United Kingdom.
Hillwood, headed by Preston Hollow’s own Ross Perot Jr., owns millions of square feet of warehouse space at its 2,700-acre Alliance Texas development, but it hasn’t specified which properties are part of the deal, the newspaper reports.
CBRE, headquartered in Dallas, already has $35 billion of assets under management globally in the industrial and logistics sector.
Chuck Leitner, chief executive of CBRE Investment Management, says “we are positioned to be one of the world’s leading investors and operators of logistics assets.”
Dallas is now the top industrial building market in the United States at a time when the warehouse and logistics sector is setting records. About 50 million square feet of industrial warehouse space is currently under construction in the Dallas area, which represents about 10% of such property being built in the world.
The demand comes from the rise of e-commerce, population shifts and the trend of retailers holding more imported merchandise in the United States.
