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 663,821 square foot distribution warehouse in Houston, Texas. The transaction was made for an undisclosed amount.
The building is ideally located in the Northeast industrial submarket in the Houston MSA which offers a diverse and highly skilled labor force of more than three million workers and continues to exhibit stable industrial growth. Positioned at the NE Loop 610 at McCarty Drive just five miles north of the Port of Houston and Downtown Houston, the facility has excellent access to the Port, the Houston freeway system, two Union Pacific rail intermodal yards, and the growing population of the “Texas Triangle” of Houston, San Antonio, and Dallas. The property’s location at 8800 CityPark Loop positions it to compete head-to-head with other top-tier logistics buildings in the surrounding market. In fact, finding an operation site on over 40 acres close to Loop 610, as this property is, is costly and unlikely, making this a highly desired asset.
Sitting on over 40 acres of land, the asset is equipped with over 200 trailer parking spaces with additional expansion capacity, furthering the opportunity to maximize the heavy haul corridor within which it resides. The building’s long-term tenant has occupied it since 1994 and has made the property an integral part of its south-central U.S. operations.
“Houston’s industrial sector is one of the top performing product types in the market as its central location amplifies its allure. This market is one we have historically been confident and successful in, and we know the immense strength of its logistics capabilities. This distribution center is one that benefits from unmatched location and long-term credit tenancy,” says Sealy & Company’s Chief Investment Officer, Scott Sealy, Jr.
The Investment Services team, led by Scott Sealy, Jr. and Jason Gandy, worked closely with Tom Lynch and Faron Wiley of CBRE to acquire the property from First Industrial Real Estate Trust, Inc.
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 warehouse, 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 five offices, with corporate offices in Dallas, TX and Shreveport, LA.