HOUSTON--(BUSINESS WIRE)--#Acquisitions--Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, announces the acquisition of a 479,806 square foot distribution warehouse in the Houston metropolitan area. The off-market transaction was made on behalf of Sealy Industrial Partners, L.P. (SIP) for an undisclosed amount.
The recently constructed Class A building is ideally located in the largest industrial submarket in the Houston MSA. The Houston region offers a diverse and highly skilled labor force of more than three million workers and continues to exhibit strong construction activity and stable industrial growth. The property, located at 18140 Kickapoo Road, is situated just beyond the newly created intersection of US 290 and Grand Parkway, making it easily accessible to all of Houston. Other key access roads include I-10, Beltway 8, and Highway 6.
The property’s significant features that attracted Sealy & Company’s team include its location near many manufacturing plants, its state-of-the-art features and cross-docked functionality. Additionally, the facility and its location serve a mission-critical purpose for the current tenant and will offer Sealy stable occupancy for several years.
“Houston’s rapidly growing industrial market and increasingly low vacancy rates are attractive to us. This is a core asset with features we believe to be attractive to many of the surrounding manufacturers, suppliers, and distributors. We’re looking forward to executing our strategy of acquiring at a discount to replacement cost and stabilizing the asset. We’re pleased with this acquisition and the continued diversification of our portfolio,” says Sealy & Company’s Chief Investment Officer, Scott Sealy, Jr.
The Investment Services team, led by Scott Sealy, Jr., Jason Gandy, and Tom Herter, worked closely with Tom Lynch and Mark Redlingshafer of CBRE to acquire the property.
For more news and information regarding Sealy & Company, please visit the company’s website at www.Sealynet.com.
About Sealy & Company
Sealy & Company, a fully-integrated commercial real estate investment, and operating company, is a recognized leader in acquiring, developing, and redeveloping regional distribution warehouse, industrial/flex, and other commercial properties. Sealy provides a full-service platform for high-net-worth individuals and institutional investors through our development, management, and brokerage divisions. Sealy & Company has an exceptional team of over 100 employees, located in eight offices, with corporate offices in Dallas, TX and Shreveport, LA. and is the sponsor of Sealy Industrial Partners, L.P. (SIP).
Kayte H. Hollowell
Director – Marketing | Sealy & Company
318.222.8700 | KayteH@Sealynet.com
Copyright ⓒ Acrofan/Business Wire All Right Reserved