Hines Global Income Trust Acquires Logistics Center in Columbus

August 16, 2023

100% Leased Distribution Center Underscores Hines’ Industrial Growth in the Midwest

(COLUM­BUS, OH) – Hines, the glob­al real estate invest­ment, devel­op­ment, and prop­er­ty man­ag­er, announced that Hines Glob­al Income Trust, Inc. (“HGIT”) has acquired I‑70 Logis­tics Cen­ter locat­ed at 9157 Mink Street SW in Colum­bus, Ohio, a dis­tri­b­u­tion cen­ter that is 100% leased to a third-par­ty logis­tics provider. With a diver­si­fied port­fo­lio of glob­al assets, this acqui­si­tion strength­ens HGIT’s robust logis­tics sec­tor allo­ca­tion and expands its pres­ence in the Mid­west. HGIT has a $3.9 bil­lion port­fo­lio of com­mer­cial real estate invest­ments that is more than 63% weight­ed toward the indus­tri­al and liv­ing sectors.

The Class A, 700,000-square-foot logis­tics cen­ter, com­plet­ed this year, fea­tures 40-foot clear heights, 6000amp pow­er, advanced robot­ics, ample car and trail­er park­ing, and dual cor­ner office build­outs. It is strate­gi­cal­ly locat­ed with easy access to two of the largest U.S. rail providers, reach­ing rough­ly 60% of the North Amer­i­can pop­u­la­tion with­in a one-day dri­ve, and is poised to ben­e­fit from the recent­ly announced Intel com­put­er chip man­u­fac­tur­ing facil­i­ty to be built near Colum­bus.

I‑70 Logis­tics Cen­ter’s strate­gic loca­tion in a strong sub­mar­ket, sup­port­ed by access to major high­way arte­ri­als and a deep labor pool, makes it an attrac­tive invest­ment for HGIT,” said Alfon­so Munk, Hines’ CIO of the Amer­i­c­as and pres­i­dent of HGIT. Adding this Class A logis­tics prod­uct to our port­fo­lio, which is well-posi­tioned for con­tin­ued growth, bol­sters our port­fo­lio in the Mid­west and show­cas­es our dis­ci­plined invest­ment strat­e­gy.”

We have stud­ied the indus­tri­al mar­ket in Colum­bus at length, as it is one of the fastest-grow­ing Mid­west cities based on gross domes­tic prod­uct, job growth, and pop­u­la­tion,” said Will Ren­ner, man­ag­ing direc­tor at Hines. We view Colum­bus as a key mar­ket for Hines’ grow­ing indus­tri­al plat­form going for­ward.”

HGIT is diver­si­fied by geog­ra­phy and real estate sec­tors, with a focus on sta­ble assets with strong long-term income poten­tial. Ed Hal­aburt and Ross Bratch­er of JLL Cap­i­tal Mar­kets rep­re­sent­ed the sell­er in the transaction.

About Hines Glob­al Income Trust
HGIT is a pub­lic, non-list­ed real estate invest­ment trust spon­sored by Hines. It com­menced oper­a­tions in 2014 and invests in com­mer­cial real estate invest­ments locat­ed in the Unit­ed States and inter­na­tion­al­ly. For addi­tion­al infor­ma­tion about HGIT, vis­it www​.www​.hines​glob​al​in​cometrust​.com.

About Hines
Hines is a glob­al real estate invest­ment, devel­op­ment and prop­er­ty man­ag­er. The firm was found­ed by Ger­ald D. Hines in 1957 and now oper­ates in 30 coun­tries. We man­age near­ly $96B1 in high-per­form­ing assets across res­i­den­tial, logis­tics, retail, office, and mixed-use strate­gies. Our local teams serve 685 prop­er­ties total­ing near­ly 216 mil­lion square feet glob­al­ly. We are com­mit­ted to a net zero car­bon tar­get by 2040 with­out buy­ing off­sets. To learn more about Hines, vis­it www​.hines​.com and fol­low @Hines on social media. 

¹In­cludes both the glob­al Hines orga­ni­za­tion and RIA AUM as of Decem­ber 312022.

Any ESG or impact com­mit­ments made by Hines are not being pro­mot­ed and do not bind any invest­ment deci­sions made in respect of, or the stew­ard­ship of, HGIT. Any mea­sures imple­ment­ed in respect of such ESG or impact com­mit­ments may not be imme­di­ate­ly applic­a­ble to HGIT’s invest­ments and any imple­men­ta­tion can be over­rid­den or ignored at HGIT’s sole discretion.

For­ward-Look­ing State­ments
State­ments in this press release, includ­ing inten­tions, beliefs, expec­ta­tions or pro­jec­tions relat­ing to the acqui­si­tion described here­in, are for­ward-look­ing state­ments with­in the mean­ing of Sec­tion 27A of the Secu­ri­ties Act of 1933, as amend­ed, and Sec­tion 21E of the Secu­ri­ties Exchange Act of 1934, as amend­ed. Such state­ments are based on cur­rent expec­ta­tions and assump­tions with respect to, among oth­er things, the poten­tial long-term per­for­mance of this prop­er­ty and over­all growth of the Colum­bus area, future eco­nom­ic, com­pet­i­tive and mar­ket con­di­tions and future busi­ness deci­sions that may prove to be incor­rect or inac­cu­rate. Impor­tant fac­tors that could cause actu­al results to dif­fer mate­ri­al­ly from those in the for­ward-look­ing state­ments include the risks asso­ci­at­ed with Hines being able to suc­cess­ful­ly man­age the prop­er­ty, risks asso­ci­at­ed with an eco­nom­ic down­turn in the region or the logis­tics sec­tor, and oth­er risks described in the Risk Fac­tors” sec­tion of HGIT’s Annu­al Report on Form 10‑K for the year end­ed Decem­ber 31, 2022, as updat­ed by its oth­er fil­ings with the Secu­ri­ties and Exchange Com­mis­sion. You are cau­tioned not to place undue reliance on any for­ward-look­ing statements.

Press Contact
Erica Campbell

212 294 9024