Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, and AEW Capital Management (AEW) announced the disposition of 200 Interstate South Drive in McDonough, Georgia. The Class A, multi-tenant bulk warehouse is located in the South Atlanta Industrial market, the second-largest submarket in Atlanta. The 434,760-square-foot property features modern amenities, a superior location, and national credit tenants. 200 Interstate South is located in the Interstate South Business Park and features four (4) ingress/egress points with excellent access to I-75 and high visibility. AEW sold the property on behalf of AEW Partners VII, L.P.
When the property was acquired in 2013,it was 90% occupied and the in-place rents were 5 to 10% below historical market rental rates. Over the 24-month ownership period, Sealy & AEW successfully executed their strategy to increase occupancy to 100% and brought rents to at or above market while maintaining national credit tenant quality. This was achieved by completing a new 10-year lease for 300,000 square feet to a national credit tenant prior to the existing tenant’s termination and by renewing an existing tenant at a rental increase, both of which created value and enhanced the return upon disposition.
“Sealy’s partnership with AEW has been a tremendous success due to our entrepreneurial approach, local market expertise, and ability to implement creative strategies that add value. We look forward to potential future opportunities with AEW” stated Scott Sealy Jr., Vice President and Business Development for Sealy & Company. The JV is actively pursuing assets and portfolios in major industrial markets with a defined investment size between $5 million and $100 million.
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.