{"id":1004578002,"date":"2022-04-26T03:03:41","date_gmt":"2022-04-26T11:03:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004578002"},"modified":"2022-12-09T00:48:51","modified_gmt":"2022-12-09T08:48:51","slug":"sealy-acquires-columbus-area-logistics-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sealy-acquires-columbus-area-logistics-facility\/","title":{"rendered":"Sealy Acquires Columbus-Area Logistics Facility"},"content":{"rendered":"
\"Sealy<\/a>

1225 Southgate Parkway. Image courtesy of Sealy & Co.<\/p><\/div>\n

Sealy & Co<\/strong>., of Dallas, has acquired a 437,589-square-foot logistics facility at 1225 Southgate Parkway in Etna Township, Ohio. Developer Core5 Industrial Partners<\/strong> sold the property in an off-market transaction, for an undisclosed amount.<\/p>\n

I-70 Logistics Center East features a cross-dock layout, 36-foot clear height, ample auto parking spaces, and room for more than 100 trailers. It\u2019s fully leased to an e-commerce logistics services company.<\/p>\n

Sealy\u2019s Jason Gandy, managing director \u2013 investment services, and Davis Gibbs, director \u2013 investment services, led the transaction for Sealy & Co. Adam Tyler of Cushman & Wakefield<\/strong> represented the seller.<\/p>\n

\n

READ ALSO<\/strong>: Industrial Sector Reaches Supply Momentum<\/a><\/p>\n

\n

Gandy noted in a prepared statement that over the past five years, Sealy has purchased more than 1.7 million square feet of industrial assets in the Columbus area.<\/p>\n

Steadily tighter<\/h2>\n

The metro Columbus industrial space market continues to tighten, with four straight quarters of record-setting low vacancies having culminated in the current total vacancy of 1.6 percent and leaving the metro with a \u201cdire need for new space,\u201d according to a first-quarter report from JLL<\/strong>.<\/p>\n

Fortunately for prospective tenants, more than 13 million square feet is in the construction pipeline, and just 12 percent of it is currently preleased.<\/p>\n

A signal deal earlier this year was Home Depot taking an entire 1.1-million-square-foot warehouse in West Jefferson.<\/p>\n

Naturally, the tight market has pushed asking rents up, to an average of $4.62 per square foot, also according to JLL.<\/p>\n

Almost exactly a year ago, Sealy made a pair of nearly simultaneous Midwestern acquisitions.<\/p>\n

In one, the company bought its first property in metro Detroit<\/a>, a 407,500-square-foot distribution warehouse in Flint, Mich., that\u2019s fully leased to General Motors<\/strong>.<\/p>\n

In the second, Sealy purchased Lone Elm Commerce Center<\/a>, a 210,500-square-foot distribution facility in Olathe, Kan., expanding its presence in the Kansas City area.<\/p>\n","protected":false},"excerpt":{"rendered":"

The distribution center is 100 percent leased. <\/p>\n","protected":false},"author":882,"featured_media":1004578014,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,13,21742],"tags":[33787,32799,32796,33298],"class_list":["post-1004578002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-midwest","category-latest","tag-core5-industrial","tag-cushman-wakefield","tag-jll","tag-sealy-company"],"acf":[],"yoast_head":"\nSealy Acquires Columbus-Area Logistics Facility - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Sealy & Co. has acquired I-70 Logistics Center East, a logistics facility at 1225 Southgate Parkway in Etna Township, Ohio.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/sealy-acquires-columbus-area-logistics-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sealy Acquires Columbus-Area Logistics Facility\" \/>\n<meta property=\"og:description\" content=\"Sealy & Co. has acquired I-70 Logistics Center East, a logistics facility at 1225 Southgate Parkway in Etna Township, Ohio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/sealy-acquires-columbus-area-logistics-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-26T11:03:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:48:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/1225-Southgate-Parkway.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"801\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sealy-acquires-columbus-area-logistics-facility\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/sealy-acquires-columbus-area-logistics-facility\/\",\"name\":\"Sealy Acquires Columbus-Area Logistics Facility - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sealy-acquires-columbus-area-logistics-facility\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sealy-acquires-columbus-area-logistics-facility\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/1225-Southgate-Parkway.jpg\",\"datePublished\":\"2022-04-26T11:03:41+00:00\",\"dateModified\":\"2022-12-09T08:48:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Sealy & Co. has acquired I-70 Logistics Center East, a logistics facility at 1225 Southgate Parkway in Etna Township, Ohio.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sealy-acquires-columbus-area-logistics-facility\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/sealy-acquires-columbus-area-logistics-facility\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sealy-acquires-columbus-area-logistics-facility\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/1225-Southgate-Parkway.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/1225-Southgate-Parkway.jpg\",\"width\":801,\"height\":600,\"caption\":\"1225 Southgate Parkway. 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