Hines Global Income Trust acquires advanced manufacturing portfolio
Hines Global Income Trust has acquired the advanced manufacturing portfolio (AMP), a 417,000-square-foot industrial and manufacturing campus in Santa Clara, Calif.
The AMP is currently 100 percent leased to 10 tenants and provides a combination of light manufacturing and R&D space. The four-building campus provides mission-critical space for tenants with business in the technology industry. The strategic location in the heart of Silicon Valley provides proximity to major technology tenants, as well as the premier high-tech talent pool.
This is Hines’s third industrial and logistics closing in the past 90 days.
Demand for this type of space in Silicon Valley has continued to grow in recent years, while availability has simultaneously diminished. “We believe in the long term supply/demand fundamentals of this product type, which have proven to be resilient to the economic downturn,” said Sam Cheikh, managing director in the Hines Bay Area office.