Sealy Acquires 650 KSF Ohio Distribution Facility

The owner, Exel Inc., sold the property to Sealy in a $40 million deal, marking the second time in three months the property changed hands.

Creekside IX, Columbus, Ohio
Creekside IX, Columbus, Ohio

Sealy & Co. re-entered the Columbus, Ohio market by acquiring Creekside IX, a 652,195-square-foot distribution center in Lockbourne, Ohio. The asset is part of Creekside Industrial Center, a 21-building business park offering more than 11 million square feet of industrial space within the Southeast submarket of Columbus.

PropertyShark records indicate that Searly & Co. bought the facility from Exel Inc. on behalf of Sealy Strategic Equity Partners in a $40 million deal. This is more than $5 million over the price Exel paid when it acquired the warehouse from Pizzuti in April 2017. The buyer had made another acquisition of a St. Louis industrial facility in Spring 2017. 

Surpassing expectations

Creekside IX was completed in 2015 and is currently fully occupied by a multinational corporation. The building incorporates state-of-the-art features such as:

  • 32-24-foot clear heights
  • T-5 lighting
  • ESFR fire suppression systems
  • cross-dock configuration
  • 60-foot loading bays

The warehouse’s location within the 500-acre Creekside Industrial Center makes it easily accessible from interstates 270 Loop, 70 and 71, the Port Columbus International Airport, the Rickenbacker Air Industrial Park and the Norfolk-Southern Intermodal facility.

Image courtesy of Sealy & Co.