Dallas, TX, Aug. 10, 2021 (GLOBE NEWSWIRE) -- 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 two distribution centers totaling 92,120 square feet in St. Louis, Missouri. The transaction was made for an undisclosed amount.
“This acquisition marks our 13th closing of the year and our third so far this quarter. Backed by the confidence in our enterprise financing, our team continues to bring promising opportunities to the table as our acquisition pipeline grows. We are looking forward to another strong year of acquisition volume,” says Scott Sealy, Jr., Sealy & Company’s Chief Investment Officer.
Sealy & Company’s announcement of the additions of Shoreline Services Centers I & II comes after a successful and active run of closed investments in Savannah, Oklahoma City, Houston, and Lafayette. Recorded as the third-largest private buyer of warehouse and logistics space in 2020, with several deals on the horizon the investment services team aims to maintain or enhance this standing for 2021.
Mr. Sealy continues saying, “Throughout our company’s history, we have remained true to our guiding principles and have created a reputation for closing deals and living into our commitments.”
The company’s newest acquisition was made in a familiar market, having already owned assets in St. Louis, beginning with a purchase in early 2017. Shoreline Service Centers I & II are located in an excellent submarket with direct access to I-70. The buildings are 100% occupied and boast a diversified tenant roster with nearly 12 years in weighted average historical tenancy. With few comparable alternative properties to lease within the submarket, these assets are highly sought after due to high constraints for new developments.
Sealy Investment Services Team members Jason Gandy, Managing Director – Investment Services, and Davis Gibbs, Senior Investment Associate, led the transaction in conjunction with selling broker Jeff Hawley of Block Hawley Real Estate Services.
For more news and information regarding Sealy & Company, please visit the company’s website at www.Sealynet.com.
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