Sealy expands on its established footprint in the Midwest United States
DALLAS–(BUSINESS WIRE)–#Acquisitions–Fifth paragraph, second sentence of release dated September 12, 2022 should read: The CBRE Capital Markets team in Cincinnati – Steve Timmel, Jeff Johnston, and Will Roberts represented the seller Culmen Real Estate Services. (instead of John Hassler of Newmark represented the seller.)
The updated release reads:
SEALY & COMPANY ACQUIRES MID STATES INDUSTRIAL PORTFOLIO CONTAINING TEN BUILDINGS TOTALING 1,138,866 SQUARE FEET IN DAYTON, OHIO
Sealy expands on its established footprint in the Midwest United States
Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, announces the acquisition of a 1,138,866-square-foot industrial portfolio in Dayton, Ohio. Known as the Mid States Industrial Portfolio, the investment was made at a significant discount to replacement cost and contained ten warehouse facilities situated across the two strongest industrial submarkets in the Greater Dayton MSA.
The Mid States Industrial Portfolio boasts quality concrete tilt-up construction and easy interstate access. The portfolio is occupied by a highly diversified roster of 22 tenants across the ten different buildings servicing a wide variety of industrial needs across the market. With over 1 million square feet of industrial space in one of the most attractive markets in the country, this portfolio provides a seldom seen opportunity in the market today, offering the unique combination of stability and to potential to deliver significant value to the firm.
The portfolio is located in the highest growth corridor in the Midwest, according to CBRE. The development of the region between Greater Cincinnati and Dayton along I-75, the nation’s primary North/South distribution corridor, has been nothing short of explosive. The assets are located within two separate and distinct submarkets, Moraine and Airport/Vandalia. Both submarkets are located along I-75, with Moraine serving the south end of the Dayton market and Airport/Vandalia providing industrial supply to the north. The submarkets are easily accessible for tenants seeking high-quality space with quick ingress and egress to the highway system.
“The Investment Services team at Sealy has been working hard this year and is excited to see the fruits of our labor realized with the Mid States Industrial Portfolio. This acquisition further cements our presence in the Midwest region and heralds our commitment to expanding our reach into strategic industrial markets,” says Scott Sealy Jr, Chief Investment Officer – Sealy & Company.
Jason Gandy, Managing Director – Investment Services, and Davis Gibbs, Director – Investment Services, led the transaction for Sealy & Company. The CBRE Capital Markets team in Cincinnati – Steve Timmel, Jeff Johnston, and Will Roberts represented the seller Culmen Real Estate Services.
For more news and information regarding Sealy & Company, please visit the Company’s website at www.Sealynet.com.
Sealy & Company
Sealy & Company, a fully-integrated commercial real estate investment and operating firm, is a recognized leader in acquiring, developing, and redeveloping regional distribution warehouses, industrial/flex, and other commercial properties. Sealy provides a full-service platform for high-net-worth individuals and institutional investors through our development, management, and brokerage divisions. Sealy & Company has an exceptional team of over 100 employees, with corporate offices in Dallas, TX and Shreveport, LA.
Contacts
Kayte H. Hollowell
Vice President – Marketing & Communications | Sealy & Company
318.222.8700 | KayteH@Sealynet.com
