News
HILLWOOD BUYS INTO B'MORE INDUSTRIAL
November 8, 2012
| Texans don't just seek big things within their own borders. Dallas-based Hillwood Investment Properties and Brookfield Asset Management have purchased two big ol' warehouses along the I-95 Corridor from TIAA-CREF. |
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| This afternoon, Hillwood's Gary Frederick told us his firm specializes in bigger-than-big distribution centers, and this pair fits:238 Belvidere Rd in Perryville (A, above, occupied by GE Appliances, according to Google) is 1M SF, and 451 Fletchwood Rd in Elkton (B, above, for Burris Logistics) is 757k SF. Both are on 71-acre plots about 15 minutes apart. This is Hillwood's first Maryland property, though it's slightly closer to Philly than to Baltimore (everyone can't be perfect). Hillwood entered the Philly market with a South Jersey buy this summer, and North Jersey is on its radar. The I-95 Corridor has few buildings for sale, and Hillwood rose to the top among the bidders based on its ability to buy both properties, he says. The company's release touts the Perryville location's proximity to the CSX Railway, and GE is a household name, which seems to imply that's the property Hillwood was really after. |
