{"id":1004183463,"date":"2017-07-11T01:22:03","date_gmt":"2017-07-11T09:22:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004183463"},"modified":"2022-12-08T17:01:37","modified_gmt":"2022-12-09T01:01:37","slug":"sealy-co-buys-1-2-msf-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sealy-co-buys-1-2-msf-industrial-portfolio\/","title":{"rendered":"Sealy & Co. Acquires 1.2 MSF Industrial Portfolio"},"content":{"rendered":"

By Scott Baltic, Contributing Editor <\/em><\/p>\n

\"Scott<\/a>

Scott Sealy Jr., vice president, Business Development<\/p><\/div>\n

In its latest of a string of purchases, Sealy & Co., of Dallas and Shreveport, La., has acquired a privately traded REIT and its assets, which included a 17-building, 1.2 million-square-foot portfolio of warehouse\/distribution buildings in the Southwest submarket of Oklahoma City, Sealy announced.<\/p>\n

No dollar amount was disclosed in connection with the transaction, which was made on behalf of Sealy Strategic Equity Partners. The seller also was not disclosed.<\/p>\n

The buildings are spread across two industrial parks, Metropolitan Business Park and Oklahoma City Industrial, and cover a total of about 67 acres, a Sealy spokesperson told Commercial Property Executive<\/em>. The buildings were completed between 1971 and 1989, and their average age is 34 years.<\/p>\n

The acquisition reportedly provided the opportunity for Sealy to acquire a critical mass of quality industrial product in a single market at a significant discount to replacement cost.<\/p>\n

The buildings are in Oklahoma City\u2019s most established industrial submarket and benefit from close proximity to Will Rogers World Airport, I-44 and I-40. Historically, the portfolio has demonstrated a strong occupancy, according to Sealy, and is currently 92 percent leased to 44 tenants representing a wide variety of industries.<\/p>\n

\u201cWe have been pleased with Sealy\u2019s recent history in the Oklahoma City market and look forward to continuing and expanding our business in this market<\/em>,\u201d Scott Sealy Jr., vice president of Business Development, said in a prepared statement. \u201cOklahoma City\u2019s market fundamentals align with SSEP\u2019s Portfolio by Design strategy, which focuses on quality properties in strategic locations occupied by excellent tenants<\/em>.\u201d<\/p>\n

Sealy’s recent expansion deals<\/h2>\n

Sealy has been an aggressive buyer of late, closing at least five acquisitions since just last fall.<\/p>\n