Jim T. Ryan covers manufacturing, technology, transportation, work force and Cumberland County. He has been with the Central Penn Business Journal since 2006. 
Dallas-based Hillwood Investment Properties is actively surveying the market to add smaller vacant warehouses to its midstate portfolio, Senior Vice President Gary Frederick said.
“It’s a very stable and consistent distribution market because of its proximity to most of the northeast population,” he said.
The company has been acquiring vacant warehousing around the country to better position itself for when distribution markets rebound, he said. On Tuesday, Hillwood announced it acquired Key Distribution Center, a 600,000-square-foot warehouse in Carlisle.
The company also builds warehousing facilities, but the continuing credit crunch has slowed that business to almost nothing, Frederick said. Hillwood has built about 40 million square feet in the last 10 years, he said. That includes two warehouses with a total of 1.4 million square feet in Palmyra, Lebanon County. Food manufacturer General Mills leases the facilities.
Hillwood also owns land for future developemnt near Allentown.
The company is part of the business empire of H. Ross Perot Sr., the Texas billionaire and two-time presidential candidate.
This item was modified from its previous version to correct that Hillwood owns land for future development near Allentown.
