{"id":1004121812,"date":"2015-06-23T06:19:56","date_gmt":"2015-06-23T14:19:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004121812"},"modified":"2020-05-11T21:14:30","modified_gmt":"2020-05-12T05:14:30","slug":"sealy-co-stretches-its-legs-in-texas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sealy-co-stretches-its-legs-in-texas\/","title":{"rendered":"Sealy &#038; Co. Stretches Its Legs"},"content":{"rendered":"<p><em>By Keith Loria, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Sealy.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004121814\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/sealy-co-stretches-its-legs-in-texas\/pld-harlingen-brochure-indd\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Sealy.jpg\" data-orig-size=\"1024,653\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;rrojas&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;PLD Harlingen Brochure.indd&quot;,&quot;created_timestamp&quot;:&quot;1425919450&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;PLD Harlingen Brochure.indd&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"PLD Harlingen Brochure.indd\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;PLD Harlingen Brochure.indd&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Sealy.jpg?w=1024\" class=\"alignright wp-image-1004121814 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Sealy.jpg\" alt=\"PLD Harlingen Brochure.indd\" width=\"300\" height=\"191\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Sealy.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Sealy.jpg?resize=300,191 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Sealy.jpg?resize=768,490 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.sealynet.com\/\" rel=\"nofollow\">Sealy &amp; Co.<\/a> has acquired a Texas portfolio consisting of 902,715 square feet of Class A industrial assets, on behalf of its investment offering, SSEP.<\/p>\n<p>The portfolio is comprised of four buildings in El Paso, totaling 758,715 square feet, and a fifth building in Harlingen consisting of 144,000 square feet.<\/p>\n<p>The five buildings represent some of the highest quality buildings in their market and the acquisition basis is below replacement cost, which is consistent with SSEP\u2019s acquisition strategy.<\/p>\n<p>\u201cThe El Paso acquisition represents a rare opportunity to acquire Class A assets with modern building features such as 180-foot truck courts, adequate clear heights, excellent distribution access, and excess trailer parking,\u201d Scott Sealy Jr., Sealy &amp; Company\u2019s vice president business development, said in a company statement. \u201cAs a result of this acquisition, SSEP\u2019s cash flow, portfolio occupancy, and diversification will increase.\u201d<\/p>\n<p>Sealy &amp; Co. is no stranger to Texas. The company has been active in the state for more than 50 years and owned 5.8 million-square-feet in Texas prior to this acquisition, according to the company\u2019s spokesperson.<\/p>\n<p>The five buildings were developed between 1997 and 2001 and combined are 95 percent occupied by a tenant roster with long histories in the locations.<\/p>\n<p>According to CBRE\u2019s El Paso Industrial MarketView Q1, the area\u2019s industrial market began the year with positive net absorption for the first time since 2011 and is showing strong fundamentals.<\/p>\n<p>The report said that the overall industrial vacancy rate continued to decline to 11.8 percent, emphasizing the optimistic momentum of the local market. Additionally, the vacancy rate for competitive, Class A space under 100,000 square feet remained as the most \u201ctight\u201d segment at 2.6 percent.<\/p>\n<p>The El Paso portfolio Sealy &amp; Co. acquired is located less than 5 miles from the Zaragoza Bridge, which is the main distribution border crossing between Juarez, Mexico and El Paso.<\/p>\n<p>According to Sealy, the El Paso portfolio satisfies the objectives of SSEP\u2019s \u201cPortfolio By Design\u201d strategy, which includes blending three key investment elements: quality industrial properties, strategic locations, and creditworthy tenants.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sealy &#038; Co. is no stranger to Texas.<\/p>\n","protected":false},"author":451,"featured_media":1004121814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742],"tags":[],"class_list":["post-1004121812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sealy &amp; Co. 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