Hines Global Income Trust Adds to Industrial Assets Via $309M in East Coast Acquisitions

Hines Global Income Trust, or HGIT – a publicly registered non-traded real estate investment trust sponsored by Hines – has grown its industrial presence with the acquisition of three East Coast assets, including:

• A 2.5 million square foot portfolio, purchased from The Davis Companies, that encompasses: Two 100% leased Class A distribution facilities within the Georgia International Trade Center, centrally located in the high-growth market of Savannah; and two 80% leased Class A warehouse/distribution facilities within Upton Crossing, a warehouse campus in Wilmington, Mass.; and
• The I-85 Logistics Center, a Class A 100% leased cross-dock distribution facility located in Greenville-Spartanburg, S.C.

The Georgia International Trade Center was acquired indirectly through a Delaware statutory trust and is part of HGIT’s DST program. The company commented that these recent deals showcase its ability to capitalize on opportunities across markets. With the help of Hines’ local teams, HGIT seeks to identify stable assets with strong long-term income and growth potential. Its diversified portfolio, valued at $4.58 billion as of April 30, 2025, is two-thirds-weighted to the industrial and living sectors.

Earlier this month, Hines Private Wealth Solutions LLC fully subscribed its HREX 5, DST – which owns Rookwood, an open-air shopping destination in Cincinnati, Ohio. The offering, which launched nearly a year ago, originally sought to raise approximately $201.1 million from accredited investors.

“Hines continues to see potential in the industrial sector, especially in high-growth markets. As East Coast ports continue to diversify, coupled with the ongoing demographic growth in the Sunbelt, demand for strategically located industrial space remains steady,” said Alfonso Munk, co-head of investment management at Hines. “Our local market expertise and deal sourcing capabilities allow Hines Global Income Trust to be well-positioned to take advantage of these opportunities.”

Georgia International Trade Center

The two distribution facilities total 2.2 million square feet and are fully leased to a Fortune 50 home improvement retailer and a global third-party logistics provider. The Georgia International Trade Center is a fully-leased, master-planned industrial park developed through a joint venture of Davis and Stonemont Financial Group, encompassing over 7.7 million square feet of Class A manufacturing and warehouse space across 10 buildings. The site is located approximately 10 miles from the Port of Savannah. The sale of the final two buildings marks the completion of Davis’ and Stonemont’s business plan for the park.

Upton Crossing

The two properties total 215,000 square feet and are 81% leased to a global third-party logistics provider, a medical device company, and a snack food company. They are situated within the newly built Upton Crossing, a warehouse/distribution campus adjacent to I-93 and within close proximity to I-95, I-495, Downtown Boston, and Logan Airport. Since its acquisition in 2021, Davis successfully redesigned and re-permitted the site to accommodate industrial distribution buildings.

The North Boston market is driven by distribution to downtown Boston and the densely populated northern suburbs. With limited new development in Boston’s North submarkets, strong access, and limited competitive supply, Hines noted that Upton Crossing benefits from the demand from a diverse range of tenants, including distribution and e-commerce, making it an attractive opportunity.

“For Davis, the priority is always to secure good sites, build quality buildings, and lease to strong tenants. The ultimate reward is a sale to an owner who values the durable cash flows we create in the best-of-class buildings we construct,” said David Allen, senior vice president at The Davis Companies. “We are grateful to our partners, leasing teams, and Eastdil Capital Markets for helping execute this sale, which we believe will be a valuable investment for Hines.”

I-85 Logistics Center

This property is a 408,000 square-foot, newly built Class A cross-dock distribution facility that is 100% leased to Vertiv. The Greenville-Spartanburg market offers strategic advantages for logistics and manufacturing users, driven by its prime location along the I-85 corridor, which provides access to key Sunbelt growth markets, the Greer Inland Port with a direct rail link to the Port of Charleston, and exceptional logistics infrastructure.

I-85 Logistics Center is located within half a mile of Vertiv’s new 215,000 square-foot manufacturing facility, and near its existing research and development facility.

As of Dec. 31, 2024, Hines owned and operated more than $90 billion of assets across property types and on behalf of a diverse group of institutional and private wealth clients.

Click here to visit the AltsWire directory page.