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December 1, 2023
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Hines’ Discretionary Fund Vehicles Close Three SoCal Acquisitions


Hines has closed three strategic deals in Southern California within the last 60 days, including two industrial and logistics assets and one retail redevelopment project. The transactions were made on behalf of Hines U.S. Property Partners (“HUSPP”) and Hines U.S. Property Recovery Fund (“HUSPRF”).

The deals include:

Hines U.S. Property Recovery Fund

HUSPRF acquired 3130 S. Fairview Street, a 3.9-acre RV parking and storage site in Santa Ana, through an off-market transaction, Hines plans to reposition the site to accommodate an 82k sf, Class A industrial facility that will support the local demand for warehousing, manufacturing, and R&D space. Expected project completion is mid-2023.

Hines U.S. Property Partners Fund

HUSPP acquired a 112k sf, stabilized industrial manufacturing facility located on 7.4 acres at 14191 Myford Road in Tustin, also in an off-market deal. The building is fully leased to a public pharmaceutical manufacturing company for the next decade. The building is a fully renovated industrial and lab facility with significant outdoor amenities and above market parking capacity.

In the retail sector, Hines continues to expand its retail platform in Southern California with HUSPP’s acquisition of the JCPenney building at Westfield Culver City shopping center. The 203k sf retail store sits on 2.35 acres in a premier location of Los Angeles near the intersection of the 405 and 90 freeways and is an exciting addition to the five retail projects Hines has added to its U.S. west region portfolio over the past year. Hines continues to actively look at retail in major West Coast markets, in great locations with good transit access, from stabilized assets to those needing a full reposition.

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