HSA Commercial Real Estate, which owns more than 17 million sf of commercial real estate in 14 states, recently hired Craig Phillips as executive vice president and head of the Chicago-based firm’s development division. The 20-year real estate veteran previously served as a partner and regional vice president at Seefried Properties Inc., where he helped deliver over one million sf of industrial space with a market value in excess of $100 million. GlobeSt.com interviewed the executive about HSA’s industrial investment and development plans.

GlobeSt.com: Will you be spending as much on development and investment this year as last year?

Phillips: I suspect less. We’re waiting for pricing to come back to reality. There are buildings now on the market we’re going to take a look at, but you’ve got to be careful about overpricing. We’re looking for properties with good, basic market underwriting. Those are out there but not in abundance. There’s a lot of turbulence in the capital markets, which is causing a lot of people to stand at the sidelines and wait to see what’s going to happen.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.