While I was chatting recently with Ross Perot Jr. about Hillwood and its long history in Dallas-Fort Worth real estate for the Dallas Business Journal's 20th anniversary of Best Real Estate Deals, he mentioned that he's seeing more opportunity for investment in California properties.
It seems that our conversation was quite timely.
This morning, Dallas-based Hillwood Investment Properties announced that the company, in partnership with Brookfield Asset Management, has acquired the 328,691-square-foot South Rialto Logistics Center in Rialto, Calif.
The Class A industrial building sits on 26 acres and has nine acres available for construction or parking stalls. This is the first property the joint venture has acquired since announcing it would invest up to $1 billion in industrial properties over the next three years.
Brian Wilson represented Hillwood and Brookfield. Darla Longo and David Consani of CBRE and Rick John represented the seller, California Public Employees' Retirement System.
The property is available for lease.