Hines Global Income Trust Buys Amazon Fulfillment Center
Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has purchased 6000 Schertz Parkway, an Amazon-leased e-commerce fulfillment center located in Schertz, Texas.
Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has purchased 6000 Schertz Parkway, an Amazon-leased e-commerce fulfillment center located in Schertz, Texas. The purchase price was $129.2 million, excluding transaction and closing costs.
6000 Schertz Parkway is a roughly 1.3 million-square-foot Class A, e-commerce fulfillment center is located in the I-35 corridor between San Antonio and Austin. The company noted that the location provides access to the “Texas Triangle,” serving a population of more than 25 million people living in or around Austin/San Antonio, Houston and the Dallas/Fort Worth metro areas.
“This is a critical location with a high growth consumer base,” said Laura Denkler, managing director at Hines. “We continue to pursue logistics assets with immediate proximity to population density and solid connectivity to major thoroughfares. This acquisition is another step forward for Hines in the Austin/San Antonio marketplace.”
Hines Global Income Trust recently registered a $2 billion follow-on offering with the Securities and Exchange Commission. Once declared effective, this will be Hines Global Income Trust’s third public offering.
As of September 30, 2020, Hines Global Income Trust owned 20 real estate investments which total 9.5 million square feet of space. From inception in August 2014 through November 30, 2020, the REIT raised $1.1 billion in investor equity in its public offerings.
