Both Assets Leased to Original Tenants of Build-To-Suits
DALLAS–(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 Class A distribution warehouse totaling 303,369 square feet in Little Rock, Arkansas and an 80,000 square foot distribution warehouse in Detroit, Michigan. The off-market transactions were made for an undisclosed amount and completed just days apart.
Located at 8 Industrial Parkway in the booming distribution hub of Little Rock, Sealy & Company’s newly acquired industrial warehouse sits at the intersection of Interstates 30 and 40, the third-longest major east-west highway in the country. The property was built-to-suit for FedEx in 2016 on nearly 45 acres and has been fully leased to the tenant since. Equipped with top-tier features, including LED lighting, professional landscaping, expansive parking and dock areas, and office and guardhouse square footage, the tenant is well-served by the Class A asset.
“This is a phenomenal asset to add to our portfolio. The location, credit tenancy, and capital strategy for this property are all key components to performing well in the industrial real estate space. We lean heavily on our industry relationships and our reputation of closing deals to continue adding exceptional properties like this one to our portfolio,” says Scott P. Sealy, Jr., Chief Investment Officer of Sealy & Company.
Sealy Investment Services Team members Jason Gandy, Managing Director of Investment Services, and Davis Gibbs, Senior Investment Associate, led the transaction of 8 Industrial Parkway in conjunction with selling broker Matthew Berres of Newmark’s Net Lease Capital Markets group.
4333 Matthew Drive, the newest addition to Sealy & Company’s portfolio, was built-to-suit its current tenant, a tire and wheel sequencing supplier of automotive components. The warehouse is the tire assembly and sequencing plant providing just-in-time inventory to the neighboring General Motors (GM) assembly plant, also owned by Sealy & Company. Sealy sought out a direct transaction for the purchase of the property that contributes to the operations of the GM facility.
The property was built in 2006 and features wide column spacing and 20 loading doors with side-load configuration. Located within a market with very limited comparable supply and an exceptional industrial business park, this asset adds significant value to Sealy & Company’s portfolio and holdings in the Detroit market. The property, part of the Linden Creek Commerce Park, is strategically located adjacent to the Bishop International Airport and the intersection of I-69 and I-75.
“We are glad to add to our Detroit market holdings with this acquisition and look forward more opportunities to grow our footprint in this market. We are one of the most active industrial real estate investing companies in the country, as evidenced in our track record and evolving pipeline, and look to maintain that status,” says Jason Gandy, Sealy & Company’s Managing Director of Investment Services. Mr. Gandy led the deal for the company and was supported by his acquisitions team throughout the analysis and underwriting processes.
The seller’s broker, Geoff Hill of Newmark, worked closely with Sealy & Company’s Investment Services team to complete the Matthew Drive transaction.
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 warehouses, 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.
For further information, please contact:
Kayte H. Hollowell, Director – Marketing
Sealy & Company