Hines is placing a sizable bet on America's manufacturing comeback, developing six industrial projects totaling more than 2.3 million square feet in Houston, Phoenix, Florida's Space Coast and California's Fremont-Newark corridor. The Houston-based real estate giant is chasing a wave of factory construction that company researchers believe will reshape demand for warehouses and logistics space well into the next decade.
As reported by CoStar News, Hines expects U.S. manufacturing construction spending to reach $1 trillion by 2030, a projection that is fueling the firm's push into markets it considers best positioned for growth. The company has financially backed 2.3 million square feet of projects spread across Texas, Arizona, Florida and California, and it has also renovated an existing industrial facility near San Jose into what the article describes as a modern advanced manufacturing facility.
Hines's own research points to a narrower set of winners within that broader boom. According to Realty News Report, the firm has identified Houston, Phoenix and San Jose as the nation's three top markets most likely to need new industrial buildings because of strong manufacturing activity. Houston developer Robert Clay told the outlet that 30 percent of new business announcements in the city in 2025 came from manufacturing companies, a trend he sees as central to driving the city's industrial pipeline.
Three New Houston Buildings in the Pipeline
Houston is where Hines's manufacturing bet is most visible on the ground, with three new industrial buildings in the pipeline there, the report notes. One is the Aero Logistics Center near Hobby Airport, a 270,900-square-foot project that includes a 173,700-square-foot cross-dock building alongside a 97,200-square-foot front-load building, with groundbreaking slated for the third quarter of this year.
A second Houston project, Mills 249 Logistics at 8887 Mills Road in the northwest part of the city, is a 200,200-square-foot front-load building the same report says was expected to be completed in September. The third is Phase II of Lone Star Logistics Park at 2304 Reed Road, which will add 476,063 square feet across two buildings and was expected to deliver this fall; once finished, the full campus is set to span 1.1 million square feet.
Arizona and Florida Round Out the Portfolio
Outside Texas, Hines has turned to Arizona's fast-growing West Valley for another piece of its strategy. JLL announced in April that it arranged joint-venture equity on Hines's behalf for Cactus 303, a three-building, 572,282-square-foot Class A industrial project at the northeast corner of Loop 303 and Cactus Road in Surprise. Per JLL, the shovel-ready development sits on 36.8 acres in the Loop-303 corridor and includes two rear-load facilities and one cross-dock building, with clear heights ranging from 32 to 36 feet.
In Florida, Hines and KEY Group broke ground on Space Coast Innovation Park Phase I in Titusville, at Space Coast Regional Airport. Hines says the first two phases of the park are planned to deliver more than 1.1 million square feet across five industrial warehouse buildings, with Phase I alone comprising three rear-load buildings totaling more than 639,000 square feet and a scheduled delivery in July 2027.
Power-Hungry Warehouses in the Bay Area
Hines's California footprint centers on the Fremont-Newark manufacturing corridor, where the firm paid $28.6 million for an industrial warehouse in Newark, according to the San Francisco Business Times. The property, known as Cherry Point and located at 38083 Cherry Street, comes with 8,000 amps of electrical power, a detail that aligns with Hines's broader thesis about energy capacity shaping where manufacturers want to locate.
In a research note on its own site, Hines describes grid capacity and energy access as a growing factor in industrial pricing and site selection, framing power-advantaged properties as assets that can support both data centers and advanced manufacturing as those two sectors increasingly compete for the same infrastructure. The firm also projects that reshoring and federal incentives will drive a 35 percent increase in U.S. warehouse demand over the next five years.
A Trillion-Dollar Wager on Where Factories Go Next
Hines has framed its strategy around a belief that advanced manufacturing construction could generate roughly $1 trillion in investment through the rest of the decade, according to research cited by IREI. The firm expects that capital, tenant demand and rent growth will concentrate in a select group of markets with strong manufacturing ecosystems, skilled workforces and reliable infrastructure, rather than spreading evenly across the country.
As of mid-2025, Hines reported owning and operating $91.8 billion of assets across property types, giving the firm substantial scale to execute on that thesis. Separate estimates vary on the scope of the broader manufacturing construction boom: while Hines points to roughly $1 trillion in advanced manufacturing investment through the decade's end, a brief from CRE Daily similarly projects that total U.S. manufacturing construction spending could reach roughly $1 trillion between 2026 and 2030, underscoring how developers and analysts alike are positioning for a sustained building wave in American factory and warehouse space.
