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Development Services
Full-Service real estate brokerage and development services.
Craig Hughes began his real estate career as a Division Controller and CPA for the Dallas Industrial Division for Trammell Crow Company in 1987 – the largest real estate developer in the nation at the time. Hughes gain unique and varied experience on the financial side of real estate development business by putting together join venture agreements, preparing construction budgets for new industrial developments, administering construction draws and overseeing project accounting for completed developments.
Beginning in 1999, Hughes completed the requirements for his real estate license and furthered his real estate development knowledge with landlord project leasing on a multi-million square foot portfolio of industrial projects as Director with Holt Lunsford Commercial. As a Project Leasing Agent, Hughes continued to put additional arrows in the quiver by representing landlords in negotiating leases, designing, pricing and overseeing the construction of tenant improvements and gaining valuable knowledge with property management issues.
After joining Cushman & Wakefield in 2003, Hughes moved into industrial development for clients including Crow Holdings Industrial, Bandera Ventures, USAA and other real estate Investment firms. In 2003/2004 Hughes developed and subsequently leased two large speculative industrial developments on DFW International Airport for a joint venture between Crow Holdings Industrial and Bandera Ventures. Hughes negotiated leases with Pratt & Whitney Jet Engines, Siemens and other key tenants. In 2007 Hughes was instrumental in securing a lease with Sikorsky Aircraft Corporation for a 150,000 SF build-to-suit development on DFW International Airport for their military helicopter blade refurbishment operations.
In 2009 formed Hughes Commercial Real Estate and Development, LLC a full-service real estate brokerage and development firm and developed a 149-acre multi-building industrial complex for Sabre Industries for their electrical transmission steel pole fabrication operations in Alvarado, Texas. Hughes later developed the worlds largest, zero emissions, hot dip galvanizing plant for Sabre Industries on the Alvarado campus. Later in 2011 the Sabre Industries’ C-Suites asked Hughes to conduct an eight-state site selection process which ultimately resulted in the purchase of 130 acres in Sioux City, Iowa and the development of another multi-building, $30 million campus and securing over $18 million in economic incentives for the client.
Hughes is currently developing three industrial parks; a 489-acre, BNSF rail served park in Gainesville, Texas – Camp Howze Industrial Rail Park, a 90-acre Union Pacific rail served park in Hillsboro, Texas – Hillsboro Rail Park and a 160-acre industrial park in Corsicana, Texas – Corsicana I-45 Industrial Park.
Other ongoing development projects include Kennedale TownCenter a seven-building retail development in Kennedale, Texas, a 14-acre restaurant and retail development in Celina, Texas, a 10,000 SF medical office building in Plano, Texas – McDermott Square Medical Office Building and a multi-facility Bio-Sciences complex in DeSoto, Texas.
Site Selection and Economic Incentives Services
Professional evaluation of sites nationally and the securitization of local, state and federal economic incentives.
Craig Hughes, through his partnership with Robbie Ruminer and Steven Hattier, has utilized the New Markets Tax Credits (NMTC) federal incentives program for the benefit of dozens of clients. The NMTC program incentivizes Companies who (a) make a substantial capital investment, (b) in a designated underserved part of the US and US territories to (c) create a community benefit. Provided these three criteria are met, an investment in a new facility including equipment and certain start-up costs, will qualify under the NMTC program and the value of this one federal program is a NET BENEFIT AFTER ALL FEES AND TRANSACTIONS COSTS EQUAL TO 18% to 22% OF THE TOTAL INVESTMENT IN UP FRONT CASH.
Hughes, along with Robbie Ruminer and Steven Hattier, co-founded HRH Community Partners, LLC (HRH) in 2019. HRH provides specialty consulting on public and private sector economic development. We provide a full range of site selection services, navigate and deliver incentives, and offer integrated design, construction and operational solutions for companies and institutions seeking to grow and expand around the country and North America. We are a sought-after leader in navigating New Markets Tax Credits, which channel incentives to spur enterprise and employment growth. We have two and a half decades of experience representing companies seeking out new locations for their headquarters, manufacturing operations, and other strategic facilities in not only maximizing the local, county, state and federal incentives but determining the most financially viable location considering logistics, labor, favorable business environments, as well as a host of other key criteria important for today’s businesses.Our Team has been involved with the NMTC program since its inception in 2000 and have successfully used the program for the benefit of numerous clients over the past years. We closed over $1.5 Billion in NMTC transactions and in 2017 earned the "NMTC Deal of the Year” for the $44 million Williams Sausage Company sausage manufacturing plant in Union City, Tennessee.
New Markets Tax Credits (NMTC)
Expert consultant specializing in this very powerful federal incentives program.
For the past two decades Craig Hughes has assisted clients with evaluating land sites and existing facilities for their relocation and expansion across the nation. Beginning in 2007, Hughes assisted Sabre Industries with identifying a 149-acre two parcel land assembly for their transmission power pole fabrication operations. Having successfully negotiating a multi-million state and local economic incentives package in Alvarado, Texas, Sabre Industries executives asked Hughes to conduct a second site selection process in 2010. After a comprehensive eight-state site selection process, Hughes was instrumental in securing a 130-acre parcel of land in Sioux City, Iowa along with a very robust $18 million state and local incentives package for his repeat client.
In 2017, Hughes represented Williams Sausage Company in a 12-state site selection process for the client’s expansion of their pork sausage processing operations. After an exhaustive search and evaluation of over 200 sites, Hughes was able to secure free land in the Union City, Tennessee Industrial Park, an $18 million state and local incentives package as well as an additional $8 million in up-front cash incentives through the New Markets Tax Credits (NMTC) federal incentives program. The development earned the 2017 New Markets Tax Credits Project of the Year Award.
Over the years Hughes has utilized his almost four decades of real estate development experience in assisting dozens of clients in evaluating logistics, supply chain, workforce, tax burdens, utility capacities, property evaluations and other key factors and in securing land and by negotiating robust local, state and federal incentive packages.
For more information on HRH Community Partners, LLC and the NMTC program please click the link below: