(HOUSTON) – Hines, the international real estate firm, and its joint venture partners KKR and Pinto Real Estate Development, Inc., announced today that Alfa Laval, Inc., a U.S. subsidiary of the Swedish Corporation Alfa Laval AB, has signed a long-term, build-to-suit lease within Pinto Business Park. Alfa Laval is a global manufacturer of heat transfer, separation, and fluid handling equipment, systems and technology.
The development of the Alfa Laval build-to-suit will be a 105,800-square-foot, crane-served, tiltwall light manufacturing facility that will consolidate all of the company’s Houston operations into one building and will house over 150 employees. The building will include 25,000 square feet of Class A office space in addition to 80,000 square feet of manufacturing space, featuring 30’ clear height, 52’ x 60’ column-bay spacing, and five crane bays designed to hold a capacity of between 10 and 50 tons.
The development is scheduled for completion in the second quarter of 2015 and construction is underway.
“We are excited about the opportunity to bring all of our Houston-based employees, currently in three locations, into a new facility in the Pinto Business Park,” said John Anastacio, president, Alfa Laval, Inc.
“This facility will allow us to organize and streamline our business processes and flows in an efficient and professional manner, all of which are cornerstones of the Alfa Laval brand.”
Pinto Business Park is the largest, fully entitled, contiguous tract of land located inside Beltway 8 and outside the 500-year floodplain. The business park has established itself as a flexible location for all industrial uses, including large-scale cross-dock requirements for pure distribution, smaller, higher finish rear-load uses as well as assembly and manufacturing.
In addition, all current uses in the park exemplify the efficiency achievable through consolidations of each tenant's local and regional distribution and manufacturing operations. When fully built out, the park represents an opportunity of 8,000,000 square feet and a potential investment of more than $900 million.
“Alfa Laval is another great addition to our growing list of tenants at Pinto Business Park.
In the past 12 months there has been more than 3.2 million square feet of space delivered or announced within the business park, and Alfa Laval is a key component to the park’s current and future level of quality,” said Charlie Meyer, director at Hines. “In addition to the construction progress, we continue to see strong leasing activity within the park and hope to announce two new projects in the coming months.”
Alfa Laval was represented by Jarret Venghaus and Jeff Venghaus at Jones Lang LaSalle.
About Alfa Laval
Alfa Laval s a Swedish company, founded in 1883 by Gustaf de Laval and Oscar Lamm that provides specialized products and engineering solutions. The Company's product line includes equipment and systems for heating, cooling, separation, and transportation of products such as oil, water, chemicals, beverages, starch, foodstuffs, and pharmaceuticals. Alfa Laval sells and markets worldwide.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
Pinto Real Estate Development, Inc.
Pinto Real Estate Development, Inc. a wholly owned subsidiary of Cockrell Interests LLC serves as a diversified real estate investment and development platform that focuses on strategic real estate investment. Its current portfolio includes large urban in-fill land development, a 450-acre deepwater industrial port focused on coal export and crude storage, and numerous other strategic land holdings and cash flow assets. In addition to strategic one-off deals, Pinto Real Estate Development, Inc. seeks exposure to markets it believes are attractive by identifying and forming relationships with talented managers.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,317 properties representing more than 541 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. Currently, Hines manages 391 properties totaling 161 million square feet, which includes 89.1 million square feet for third parties. With offices in 115 cities in 18 countries, and controlled assets valued at approximately $28.2 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.
Visit www.hines.com for more information.
Alfa Laval at Pinto Business Park