For the past 17 years, Hines, an international real estate firm, has sought to offer its clients and investors in Mexico the highest level of quality, service, and value. Throughout its years in Mexico, this global company has carried out a wide range of projects, from industrial parks to corporate offices to the renovation of existing buildings. Rachel Hartman reports.
Even though the real estate company carries out operations around the globe, Hines understands the importance of a close-to-home connection. “It’s very important for us to have a deep local understanding and then apply international quality and efficiency standards to our projects in Mexico,” says Ricardo Serrano, director of marketing at the company. “These two factors have allowed us to develop world class buildings for users.”
Since it began operations in Mexico in 1994, Hines has carried out a long list of successful projects, ranging from the development of commercial, residential, industrial, and corporative projects.
In the real estate development industry, Hines offers services in both the investing and management of real estate properties. Its client list includes top national and multinational companies interested in investing in and carrying out operations in Mexico. Due to its financial soundness, visionary thinking and extensive experience, Hines has become an easy choice for many companies in Mexico.
Hines Mexico forms part of a privately owned, international real estate firm that got its start in the city of Houston in 1957. Its founder, Gerald D. Hines opened a one-man office near the city’s downtown area. Hines began operations under one main guiding principle: that buildings of high quality and superior architectural design would bring in the best tenants and yield the best return of investment while retaining value.
Since its beginning, the company has sought out projects that consist of the highest quality, architectural design, and lasting value for its investor partners, clients and local communities. It has worked to promote a balance between function, beauty and sustainability, and its efforts have reshaped skylines around the world.
Today the company has offices in 18 countries and enlists more than 3,150 employees. Its portfolio of projects underway completed, acquired and managed for third parties contains more than 1,066 properties, for a total constructed area of 462 million square feet. Of these, the company has dealt with skyscrapers, corporate headquarters, industrial parks, mixed-use centers, medical facilities, and master-planned resort and residential communities.
Throughout its years of operations, the company’s dedication to the highest standards in its products, services and people has gained recognition in its industry. Today it is known for employing the top professionals in the industry. The company’s commitment to carrying out the best in these areas has become known as the Hines standard.
On a global level, the firm currently controls assets valued at an estimated $23.7 billion.
HINES IN MEXICO
Hines entered the Mexican market in 1994, setting up offices in Mexico City. Today in addition to its main office in the country’s capital, Hines has regional offices in the cities of Monterrey, Guadalajara and Querétaro. Hines’ Mexico branch also includes an office in Panama, which oversees administrative duties in the surrounding region.
In Mexico, 140 workers carry out operations throughout the country. Listed among the company’s notable projects in the country are the development of Parque Industrial Querétaro and the renovation of the Torre del Ángel building in Mexico City.
Parque Industrial Querétaro is one of the largest industrial parks in Mexico. Located north of the central city of Querétaro, this establishment brought in industrial development and provided jobs for the local economy. “Since it was built, PIQ became one of the most important industrial developments and the Standard for quality class A Industrial Park in Mexico,” notes Serrano.
Today Parque Industrial Querétaro is home to more than 107 companies from 15 different countries. The park spans 865 acres and offers top design, engineering and construction to accommodate world-class manufacturing, warehousing, and distribution facilities.
In 1998, Hines purchased Reforma 350, an old office building in need of repair. The building was located on Paseo de la Reforma, Mexico City’s main real estate strip and most prestigious avenue. The building, which measured 21 stories and covered 271,000 square feet, was torn back to its original structure. Together with partners in Mexico, Hines spent an estimated $23 million over the next two years. The result – an entirely renovated structure – today stands next to the Ángel de la Independencia, one of Mexico City’s best-known monuments.
In the commercial sector, Hines owns and manages two retail centers, known as City Center Merida, and City Center Bosque Esmeralda. It has also developed numerous residential areas, including Residencial del Bosque in Mexico City, Acueducto 360 in Guadalajara, Sierra Azul in Querétaro, and Monteleón and Punto Central in Monterrey.
Hines has a presence in the cities of Mexico City, Monterrey, Guadalajara, Tijuana, Ciudad Juarez, Aguascarientes, San Luis Potosí, Querétaro, Acapulco, Irapuato and Mérida. In these areas, the company has developed or managed industrial, residential, commercial, and office building projects.
To build a state-of-the-art industrial and logistics park in the city of San Luis Potosí, Mexico, Hines partnered with a local leading developer. The park, called Interpuerto Industrial Park, is located on Eje 140 and lies adjacent to the country’s most important highway, Highway 57, which is known as the NAFTA Highway. The park is also along the main north-south railway connecting the United States and Mexico.
The park features intermodal facilities. These land-based container terminals make it easy to carry out transfers between road and rail transportation networks. Its setup makes it possible for manufacturing, warehousing, and distribution operations to be carried out in the park.
In September 2009, an industrial building named EcoLogistics 1, located in Parque Logístico in San Luis Potosí, received certification under the U.S. Green Building Council’s LEED® rating system for Core & Shell projects. The building, which measured 258,000 square feet, was the first industrial project in Mexico to earn the LEED designation.
In 2011, the Coca-Cola corporate building in Mexico received gold certification under the U.S. Green Building Council’s LEED rating system for Existing Buildings. The Coca-Cola building was the first property in Mexico to achieve such a level of certification.
The Coca-Cola building covers 151,936 square feet and is located in the Polanco sector of Mexico City. Hines developed the building in 1997 as part of its Del Bosque project.
The Del Bosque project covered a total of 795,353 square feet, creating both office and residential space. The complex consists of two 30-story condominium towers holding 94 units and an office tower that rises 13 stories. The two condominium towers showcase terracotta-colored concrete panels in a geometric pattern. The office building has an exterior of gray reflective glass and green granite. The overall combination of colors, coupled with the complex’s architectural design, makes Del Bosque a captivating structure in Mexico City’s skyline.
Looking into the future, Serrano notes the company’s plans to focus efforts on the development of industrial projects. Hines is also planning on continuing its work in the development of corporate offices in Mexico. Through its focus on quality and top design, the company will continue to create buildings and complexes that feature the Hines standard of quality both in Mexico and around the world.