{"id":1004634169,"date":"2022-12-07T03:29:31","date_gmt":"2022-12-07T11:29:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004634169"},"modified":"2022-12-09T02:56:55","modified_gmt":"2022-12-09T10:56:55","slug":"sealy-co-buys-kansas-city-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sealy-co-buys-kansas-city-industrial-asset\/","title":{"rendered":"Sealy & Co. Buys Kansas City Industrial Asset"},"content":{"rendered":"
\"\"<\/a>

Building One. Image courtesy of Sealy & Co.<\/p><\/div>\n

Sealy & Co.<\/strong> has purchased Building One of I-35 Logistics Park, a 569,584-square-foot distribution and warehousing facility in Olathe, Kan. Scannell Properties <\/strong>sold the Class A asset with the assistance of JLL. The buyer was self-represented.<\/p>\n

Completed this June, Building One is fully leased to Clorox, according to CommercialEdge information. The asset, built on 45.3 acres, features a 36-foot clear height, a 136-foot truck court, 76 dock-high mechanical loading doors and three drive-in loading doors. The facility is also set up for a possible 130,416-square-foot expansion.<\/p>\n

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READ ALSO: <\/strong>Frank Crivello on Industrial \u201cCool Down\u201d<\/span><\/a><\/p>\n

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Building One came online at 15801 S. Green Road as part of I-35 Logistics Park, one of the largest speculative developments in Kansas City. The industrial complex will encompass more than 3.2 million square feet across six buildings when complete.<\/p>\n

Situated in one of the region\u2019s most sought-after industrial corridors featuring tenants such as FedEx and XPO Logistics, the facility is within 7 miles of Interstate 35 and close to the BNSF International Intermodal Facility. The location is some 10 miles from another Sealy property, a 210,504-square-foot warehouse that the firm acquired in 2021<\/a>.<\/p>\n

Sealy & Co. seals the deal<\/h2>\n

Sealy & Co. Managing Director Jason Gandy and Director David Gibbs led the Investment Services team that arranged the acquisition.<\/p>\n

Gandy further detailed the strength of the asset’s location to Commercial Property Executive<\/em>; “The Kansas City industrial market fundamentals remain strong with falling vacancy, consistent rent growth, and a sizeable but slowing construction pipeline. Kansas City’s geographical location and diverse transportation infrastructure make this an ideal market for industrial users.”<\/p>\n

The firm is a highly active industrial investor throughout the Midwest. In September, Sealy purchased a 1.1 million-square-foot industrial portfolio<\/a> in Dayton, Ohio, as well as a 713,796-square-foot distribution facility<\/a> near Detroit.<\/p>\n

Industrial upswing in Kansas City<\/h2>\n

Attracting investment and development endeavors from some of the sector\u2019s biggest players, Kansas City\u2019s industrial market has seen positive tends across nearly all of its major metrics.<\/p>\n

According to data from a third quarter 2022 report from CBRE<\/strong><\/a>, the metro had 13.6 million square feet of space in its pipeline at the end of September. More than 4 million square feet were leased in Q3, leading to an overall vacancy rate of 4 percent, down 90 basis points over the quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Part of a 3.2 million-square-foot development, the facility came online earlier this year.<\/p>\n","protected":false},"author":3012,"featured_media":1004634261,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1592,13,21742],"tags":[32789,32796,38446,51789],"class_list":["post-1004634169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-kansas-city","category-midwest","category-latest","tag-cbre","tag-jll","tag-scannell-properties","tag-sealy-co"],"acf":[],"yoast_head":"\nSealy & Co. Buys Kansas City Industrial Asset - CPE<\/title>\n<meta name=\"description\" content=\"Sealy & Co. purchased a 569,584-square-foot industrial building in Olathe, Kan., from Scannell Properties. 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