{"id":1004602581,"date":"2022-09-13T03:15:21","date_gmt":"2022-09-13T11:15:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004602581"},"modified":"2022-12-08T13:39:52","modified_gmt":"2022-12-08T21:39:52","slug":"sealy-buys-1-1-msf-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sealy-buys-1-1-msf-industrial-portfolio\/","title":{"rendered":"Sealy Buys 1.1 MSF Industrial Portfolio"},"content":{"rendered":"
\"Mid<\/a>

Mid States Industrial Portfolio in Dayton, Ohio. Image courtesy of Sealy & Co.<\/p><\/div>\n

Sealy & Co<\/strong>. has acquired the Mid States Industrial Portfolio, a 1.1 million-square-foot assemblage of industrial assets in Dayton, Ohio, Sealy announced Monday. The seller was local firm Culmen Real Estate Services, a Sealy spokesperson told Commercial Property Executive<\/em>.<\/p>\n

The transaction\u2019s dollar value was not disclosed.<\/p>\n

The portfolio is 85 percent occupied by a diversified roster of 22 tenants. The buildings are of concrete tilt-up construction and reportedly were purchased at a significant discount to replacement cost.<\/p>\n

\n

READ ALSO<\/strong>: What\u2019s Driving Industrial Property Management Today<\/a><\/p>\n

\n

The assets are in two separate submarkets along I-75, Moraine and Airport\/Vandalia, the former serving the south end of the Dayton market and Airport\/Vandalia providing industrial supply in the north.<\/p>\n

Sealy\u2019s Jason Gandy, managing director of investment services, and Davis Gibbs, director of investment services, led the transaction for Sealy & Co. John Hassler of Newmark<\/strong> represented the seller.<\/p>\n

Midwestern stability<\/h2>\n

Dayton\u2019s industrial market continues to show strong fundamentals, with nearly 2.0 million square feet of net absorption so far this year, according to first-half 2022 figures from CBRE<\/strong>.<\/p>\n

The local construction pipeline totals about 3.5 million square feet of industrial projects, which is 38 percent higher year-over-year and one of the largest figures on record for the area.<\/p>\n

CBRE also reports that vacancy declined 30 basis points in the first half to 3.9 percent, and the average lease rate increased to $4.94 per square foot.<\/p>\n

Sealy has been quite active just in the past couple of quarters, in a variety of markets.<\/p>\n

In April, the company acquired a 437,580-square-foot logistics facility<\/a> in the Columbus, Ohio, metro.<\/p>\n

Then in June, Sealy bought a pair of 300,000-square-foot logistics buildings<\/a> in the western suburbs of Detroit.<\/p>\n

And in August, the company announced two acquisitions: two logistics facilities<\/a> totaling 841,849 square feet, in Lakeland, Fla., in the Tampa area, in a $98 million deal, and a 70,00-square-foot distribution facility<\/a> in Kansas City, Mo.<\/p>\n","protected":false},"excerpt":{"rendered":"

A local company sold the 10-building asset collection in Dayton, Ohio.<\/p>\n","protected":false},"author":882,"featured_media":1004602591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,13,21742],"tags":[32789,50999,33298],"class_list":["post-1004602581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-midwest","category-latest","tag-cbre","tag-newmark","tag-sealy-company"],"acf":[],"yoast_head":"\nSealy Buys 1.1 MSF Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Sealy & Co. has acquired the Mid States Industrial Portfolio, a 1.1 million-square-foot assemblage of industrial assets in Dayton, 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-buys-1-1-msf-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sealy Buys 1.1 MSF Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"Sealy & Co. has acquired the Mid States Industrial Portfolio, a 1.1 million-square-foot assemblage of industrial assets in Dayton, Ohio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/sealy-buys-1-1-msf-industrial-portfolio\/\" \/>\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=\"2022-09-13T11:15:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T21:39:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Mid-States-Industrial-Portfolio.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"826\" \/>\n\t<meta property=\"og:image:height\" content=\"580\" \/>\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-buys-1-1-msf-industrial-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/sealy-buys-1-1-msf-industrial-portfolio\/\",\"name\":\"Sealy Buys 1.1 MSF Industrial Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sealy-buys-1-1-msf-industrial-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sealy-buys-1-1-msf-industrial-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Mid-States-Industrial-Portfolio.jpg\",\"datePublished\":\"2022-09-13T11:15:21+00:00\",\"dateModified\":\"2022-12-08T21:39:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Sealy & Co. has acquired the Mid States Industrial Portfolio, a 1.1 million-square-foot assemblage of industrial assets in Dayton, Ohio.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sealy-buys-1-1-msf-industrial-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/sealy-buys-1-1-msf-industrial-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sealy-buys-1-1-msf-industrial-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Mid-States-Industrial-Portfolio.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Mid-States-Industrial-Portfolio.jpg\",\"width\":826,\"height\":580,\"caption\":\"Mid States Industrial Portfolio in Dayton, Ohio. 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