Creativity is the name of the game when it comes to workingindustrial deals these days, and the more unique the solution, the better, Hillwood Investment Properties VP Toby Rogers tells us.
We met with Toby between a half-dozen meetings he had Monday. Over the last six months, he says, the firm's resourcefulness has come into play. ?We'll have full buildings that another customer wants, and we'll try to relocate existing tenants and accommodate all,? he tells us. These are good signs that the economy is improving, and space is tightening up. ?We're starting to see some of those pinch points; tenants can still find space, but they want certain spaces for certain reasons.?
Toby says there was a small window to buy properties at the best price, and that window is closing. Hillwood bought the former Home Interiors building (now Frankford Trade Center, above) out of foreclosure in December 2009. It was part of an ongoing multiyear effort to acquire buildings: ?We can buy buildings cheaper than we can build them." Hillwood has been purchasing across the country in Pennsylvania, California, and Dallas. It must be a bit strenuous, since Toby likes to run half-marathons to wind down. His next one is in Oklahoma City on May 1, with a goal of less than two hours. Wanna hear more about what's going on across the industrial market in DFW? Come to our Industrial Real Estate Summit Breakfast & Schmooze on April 21 at the Westin Galleria. Register today!