September 30, 2019
Sealy & Co. affiliate, Sealy Industrial, acquired a recently-delivered distribution warehouse totaling 479,806 square feet at 18140 Kickapoo Rd., near Waller, TX. The building, in the far northwest Houston MSA, was developed, and is leased by, Broad Ocean, a China-headquartered manufacturer of electric motors.
Scott Sealy Jr., Jason Gandy and Tom Herter led the Sealy investment services team on the transaction. CBRE’s Tom Lynch and Mark Redlingshafer represented the seller. The buyer was attracted by the property’s location near many manufacturing plants, along with cross-docked functionality and state-of-the-art features. Additionally, the facility and its location serve a mission-critical purpose for the current tenant, meaning stable occupancy for the new owner.
“Houston’s rapidly-growing industrial market and increasingly low vacancy rates are attractive to us,” Sealy Jr. said. “We’re looking forward to executing our strategy of acquiring at a discount to replacement cost and stabilizing the asset.”
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