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 Class A distribution warehouses totaling 903,849 square feet in Shreveport, Louisiana. The transaction was made for an undisclosed amount.
The Shreveport Logistics Portfolio included the two newest Class A industrial buildings delivered in the Shreveport market: 5417 Campus Drive and 5001 Greenwood Road. These properties are Shreveport’s only extant logistics facilities over 250,000 SF to be delivered in the past 25 years. In addition to their size, the properties have superior building features for the market, including 30’ – 32’ clear heights, ESFR sprinkler systems, excellent loading, additional parking, and the option for redevelopment configurations. Both properties hold a strong track record of occupancy, being virtually 100% leased since their respective delivery dates.
“Sealy & Company was founded in Shreveport in 1946 and has operated in the commercial real estate market here for over 75 years. The Shreveport Logistics Portfolio acquisition presented an excellent opportunity to acquire premium industrial assets in our home market at a significant discount to replacement cost. Sealy remains not only committed to our proven investment strategy but also to the markets and communities in which we live and serve,” says Mark P. Sealy, Sealy & Company’s President.
Shreveport’s central location between Texas and the Southeastern U.S. offers close proximity to numerous highways, rail lines, and ports. 63 million people live within 500 miles of Shreveport (1/5 of the U.S. population), making the location enviable for distribution and logistics companies. The local industrial market is tight due to minimal new product delivered the past few years and steadily increasing occupancy rates. Since the beginning of 2015, only 100,000 square feet has been delivered to the Shreveport industrial market. As of the end of 2021, warehouse space is currently 98.6% occupied, flex space is currently 99.5% occupied, and manufacturing space is currently 97.3% occupied according to Cushman & Wakefield research and the CoStar Q4’2021 report.
The transaction was led by Sealy’s Investment Team member Jason Gandy, Managing Director – Investment Services, and Davis Gibbs, Director – Investment Services on the buyer’s side. Robby Rieke with Cushman & Wakefield represented the seller.
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.