The transaction marks Sealy & Company’s second acquisition in Florida in the last few months.
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 136,370 square feet of industrial assets located in Fort Myers, Florida. The Westgate Industrial Park acquisition includes two industrial assets, which were acquired through an off-market deal for below replacement cost.
Constructed in 2001, the two buildings are rear-loaded with end cap drive-ins featuring 39 dock doors and 4 drive-in doors. The assets are fully leased to a highly diversified tenant base, including a high percentage of national credit tenants. The property contains approximately 25% office finish and is equipped with a recently constructed TPO roofing system.
Situated directly to the north of the Southwest Florida International Airport, the properties offer tenants a superb location with immediate access to I-75. The San Carlos submarket has historically experienced the highest levels of user demand and rent growth within the metro and was one of the top 10 highest population growth areas in the U.S. in 2021. Centrally located between Tampa and Miami, with a limited number of competitive availabilities, both existing and projected properties, there is strong evidence supporting the strength of the assets’ future.
“We are delighted to acquire this well-located property in an increasingly difficult-to-penetrate Southwest Florida industrial market. Our pipeline thrives on off-market deals like Westgate Industrial Park. Sealy’s in-place enterprise financing, contract-to-close track record, and entrepreneurial business culture allow us to efficiently close deals,” says John Nida, Senior Regional Director-Investment Services for Sealy & Company.
Jason Gandy, Managing Director – Investment Services, and Mr. Nida led the transaction for Sealy & Company. Brad Berzins and John Dunphy of JLL represented the Seller, Westgate Associates of SW Florida, LLC.
For more news and information regarding Sealy & Company, please visit the Company’s website at www.Sealynet.com.
Sealy & Company
Sealy & Company, a fully-integrated commercial real estate investment and operating firm, 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, with corporate offices in Dallas, TX, and Shreveport, LA.
Contacts
Kayte H. Hollowell
Vice President – Marketing & Communications | Sealy & Company
318.222.8700 | KayteH@Sealynet.com
