Development & Build to Suit

Craig Hughes has been involved in all aspects of industrial and retail development virtually his entire 25-year plus commercial real estate career. Beginning in the late 1980’s while a Division Controller with Trammell Crow Company; Mr. Hughes was integrally involved in the planning, budgeting and construction accounting of millions of square feet of speculative industrial development and industrial built-to-suit developments though out the North Texas Region for institutional clients including Principal Financial Group, Amberjack (State Farm’s real estate investment entity), Equitable Real Estate and INVESCO and Fortune 500 clients including Stanley Tool Works and Business Interiors.

In July 1999, after joining Holt Lunsford Commercial, Mr. Hughes expanded his real estate experience by obtaining his real estate salesman’s license and began leasing speculative industrial developments for clients including TA Realty Associates, Koll Development Company (now KDC), Principal Financial Group, RREEF, First Industrial and Champion Partners.

After joining Cushman & Wakefield in September 2003, Mr. Hughes represented Cow Holdings and Bandera Ventures in a 401,797 SF and a 205,000 SF DFW International Airport speculative, bulk warehouse industrial developments from the initial design stage, through construction culminating in the successful lease up to tenants including Pratt & Whitney Jet Engines, Amazon Tile, Siemens AG and subsequent investment sale of the two projects. In 2007 Mr. Hughes represented IW3 Partners in the planning, design, construction and lease up to Ozburn-Hessey Logistics (Arch Chemical account) of a 520,000 SF bulk distribution center I-45 Tradeport 1 in Wilmer, Texas and Crow Holdings Industrial (Discount Tire) in a 305,000 SF bulk distribution center in Grand Prairie, Texas.

In 2007 and 2008, Mr. Hughes represented Sabre Industries, Inc. in a two phase, multi-building campus development on 150 acres in Alvarado, Texas. The development was a purposely-built steel fabrication and galvanizing plant for Sabre’s utility power pole fabrication business segment. Mr. Hughes represented Sabre in the site selection and purchase of the land including negotiations with the State of Texas, Johnson County and the City of Alvarado in securing significant economic incentives including a Texas Infrastructure Grant as well as a Texas Enterprise Grant. Mr. Hughes coordinated the selection of the design team and general constructor and oversaw the design, construction and finish out of the two-phase development totaling $30 million.

In 2008, Mr. Hughes represented Bandera Ventures in the development and construction of a 150,000 SF built-to-suit for Sikorsky Aircraft Corporation on DFW International Airport. The facility, designed to be expanded to 300,000 SF, included a proprietary “whirl stand”, clean rooms, a specially designed electrical transformer, and other specialty infrastructure.

In 2009 Mr. Hughes represented EBJ, LP in the ground up design and development of a 10,500 SF retail center, Carrier Plaza, and the subsequent lease up to tenants including Dickey’s Barbeque Pit.

After forming Hughes Commercial in January 2010, Mr. Hughes and represented the Music Institute of North Texas on the ground up development of a music school in Frisco, Texas replete with soundproof practice rooms and other specialty design items.

Sabre Industries, Inc. retained Hughes Commercial for the site selection, development and construction of a second steel fabrication and galvanizing plant. After an eight state evaluation process including the negotiation of a substantial economic incentive package, Hughes Commercial and Sabre selected a 150 acre greenfield site in Sioux City, Iowa and broke ground on June 2012 on a new $20 million manufacturing campus totaling 300,000 SF in multiple facilities. Expected completion of the first phase of construction is estimated to be the 2nd quarter of 2013.

Hughes Commercial takes a comprehensive approach when delivering Development Services for its clients, whether it is a speculative development for an institutional client or a build-to-suit for a company. We are intimately involved in all aspects and phases of the development process and our experience and knowledge enables us to deliver a superior and complete solution for our clients on time and on budget. Our services include

  • Site evaluation and selection
  • Zoning, re-zoning and code compliance
  • Land entitlement
  • Platting, re-platting
  • Master planning
  • Economic Incentives analysis and procurement
  • Financing procurement and negotiation
  • Design Team evaluation and selection
  • General Contractor evaluation and selection
  • Utility and other infrastructure evaluation and assessment
  • Geotechnical and environmental review and assessment
  • Development design
  • Detailed development budget preparation and analysis
  • Value engineering services
  • Permitting services
  • Contract negotiation services
  • Construction financing
  • Equity procurement
  • Construction accounting including change order review
  • Planning and scheduling
  • Interior finish out design and supervision
  • Move in planning and coordination
  • Development close out and documentation