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 540,000 square-foot, cross-docked distribution warehouse in St. Louis, MO. The transaction was made on behalf of Sealy Industrial Partners, L.P. (SIP) for an undisclosed amount.
Located at 3965 Lakeview Corporate Drive in the Metro East submarket, this Class A facility lies within 500 miles of 33 percent of the U.S. population and within 1,500 miles of 90 percent of the U.S. population, thus allowing trucking companies to easily reach key destinations. The business park in which the property is positioned is located adjacent to the I-255/I-270 interchange, which provides uncongested interstate travel and convenient access to the surrounding labor pool.
Built in 2006 and recently enhanced, the state-of-the-art industrial asset features modern design specifications and functional characteristics including high clear height, impressive dock ratio, and abundant parking and trailer storage. The combination of warehouse, office, and lab space serves the credit-worthy tenant and leading technology services provider to fulfill mission-critical work both nationally and globally.
“This property has been institutionally owned and managed for years, and we look forward to continuing to uphold the highest standards as owners. Sealy continues to actively pursue acquisition opportunities that align with our proven investment strategy,” says Sealy & Company’s Chief Investment Officer, Scott Sealy, Jr.
The deal to purchase the property from Duke Realty was brokered Michael Hanrahan of Cushman & Wakefield and Sealy’s Investment Services team, led by Scott Sealy, Jr., Jason Gandy, and Tom Herter.
For more news and information regarding Sealy & Company, please visit the company’s website at www.Sealynet.com.