Sealy & Co. Acquires 2 Oklahoma City Industrial Assets
- May 25, 2018
Sealy & Co. has purchased two Class A industrial warehouses in Oklahoma City, Okla., on behalf of Sealy Strategic Equity Partners.
Located at 524 and 600 Sara Road, the properties total 431,750 square feet, bringing the firm’s local square footage ownership to more than 2.1 million square feet. Each warehouse includes features such as 28-foot clear heights, 200-foot truck courts and abundant parking. The assets are located within Westgate park, two miles from Interstate 40 and one mile from Kilpatrick Turnpike.
“We feel the Oklahoma City market is demonstrating healthy economic fundamentals and benefits from its Mid-America location offering logistical advantages. The tenant demand continues to outpace development activities creating rent growth and positive net absorption. Therefore, I expect we will continue to evaluate strategic investment opportunities in Oklahoma City,” said Scott Sealy Jr., chief investment officer at Sealy & Co., in a prepared statement.
Sealy & Co. has been snatching up industrial properties throughout the Midwest over the past year, including Ohio, Indianapolis and St. Louis. Last July, the firm purchased the $40 million Creekside IX, a 652,195-square-foot distribution center in Lockbourne, Ohio. The property is located within Creekside Industrial Center, a 21-building business park totaling more than 11 million square feet of industrial space.
Prior to that, in March, Sealy & Co. acquired a seven-building, Class A industrial portfolio located in the Park 100 industrial campus in Indianapolis. The 1.1 million-square-foot assets are commonly known as the North by Northwest Business Park and were 92 percent leased to 25 different companies.
Image courtesy of Sealy & Co.