October 18, 2019
Sealy & Company acquired a 513,751-square-foot distribution center leased to Overstock.com in Kansas City, KS. The off-market acquisition from BH Partners was made on behalf of Sealy Industrial Partners L.P. for an undisclosed amount.
“We continue to invest in infill properties at a discount to replacement cost, as our investment strategy continues to prove to be rewarding,” said Scott Sealy Jr., the Dallas-based company’s CIO. “Last-mile fulfillment centers like this property are the backbone of modern supply chains and are a favorable asset class.”
Located at 5300 Kansas Ave., the property enables Overstock.com to bring two-day shipping to 99% of its U.S. customers.
“The ability to be so centrally located in the U.S. is ideal for a retailer like Overstock, and we are looking forward to our relationship with the tenant,” Sealy added. He worked with Newmark Grubb Zimmer’s Mark Long to acquire the property.
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