Sealy & Co. Acquires Industrial Portfolio in Midwest, Southeast for $108M
DALLAS — Sealy & Co., a developer headquartered in Dallas, has acquired a 34-property industrial portfolio for $108 million. The sale included three off-market acquisitions of warehouse properties located in Kansas City, Missouri; Oklahoma City; and Memphis, Tennessee.
The Kansas City transaction included five buildings in Executive Park, a master-planned industrial park constructed by ADCO Group on 1,200 acres in 1974. That transaction also included a second industrial park in the East Bottoms submarket.
Sealy also acquired a 20 distribution warehouses in Memphis’ Southeast submarket consisting of single-tenant buildings averaging 50,500 square feet.
The last acquisition was for five modern, Class A distribution warehouse facilities in Oklahoma City. The fully occupied assets are situated 2.5 miles from the Will Rogers World Airport.
The sellers were undisclosed in all three transactions.
“In a time when many have been forced to the sidelines, we are pleased to continue to capture compelling deals in enduring distribution hubs,” says Michael Sealy, executive vice president of capital markets for Sealy & Co. “Each investment was reviewed for the reliability and stability of future income, the potential for capital appreciation and the impact of each acquisition as it relates to the portfolio as a whole.”
Sealy & Co. specializes in acquiring, developing and redeveloping regional distribution warehouse, industrial and other commercial properties. The company has corporate offices in Dallas and Shreveport, Louisiana.
— Alex Patton