The partnership represents Hillwood’s entrance into the Canadian real estate market
Dallas and Calgary, Alberta (October 8, 2014) – Hillwood, a Dallas-based real estate investment and development company owned by Ross Perot, Jr., and Highfield Investment Group (HIG) announce a new partnership, which will bring a unique industrial development project to High Plains Industrial Park. The partnership marks Hillwood’s entrance into the Canadian real estate market.
The first project to arise out of the partnership is a new state-of-the-art, large-scale cross-dock distribution center in High Plains Industrial Park. Upon completion, the 500,000-square-foot building represents the largest spec building of its kind developed in Alberta. The project will target companies seeking a highly efficient distribution center serving western Canada.
“We chose this market for a substantial long-term investment based on our view that Calgary is the distribution hub for western Canada with growth potential,” said Ross Perot, Jr., Chairman of Hillwood. “Hillwood looks forward to partnering with a strong development company like HIG to deliver a high-quality industrial space for top tenants across the region.”
High Plains Industrial Park, adjacent to Calgary, was specifically selected because of the project’s scale, efficient logistics and transportation characteristics, competitive cost basis, and positive tax environment resulting in annual savings, when compared to Calgary, of approximately $1.00 per square foot for its tenants. To date, High Plains Industrial Park has attracted high quality tenants such as Target and Gordon Food Service.
“We are excited and honored to be working with Ross Perot Jr.’s company,” said HIG CEO Adrian Munro. “In addition to their strength and experience as a leading U.S. developer, we believe they will be able to attract high level clients who might not otherwise consider the Calgary market resulting in accelerated momentum at High Plains.”
HIG is a local land developer bringing years of expertise to the project. Combining this local expertise and relationships with Hillwood’s significant industrial development experience and extraordinary capital capabilities, the partnership will offer its customers cutting-edge distribution center facilities at highly competitive rates.
“Hillwood’s entry into the Canadian real estate market represents our strong confidence in both the Alberta and Calgary economies,” said Chris Brown, Senior Vice President, Hillwood Investment Properties. “We are excited to be working with HIG and look forward to additional projects in the future.”
Hillwood, a Perot company, is one of the world’s premier commercial real estate developers, investors and advisors of high-quality real estate properties that provide a significant economic impact to their region. Today, Hillwood is the second largest owner of land for future development of more than 87 million square feet of logistics space in the U.S. The company is best known for its Alliance brand that includes the 18,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center, and 2,000-acre AllianceCalifornia. For information, visit www.hillwood.com.