Memphis Market Share Continues to Climb as Sealy & Company Executes Another Distribution Facility Acquisition
DALLAS--(BUSINESS WIRE)--Feb 26, 2019--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 its 124,800 square foot distribution facility at 500 Distribution Parkway in Collierville, TN. The direct transaction was made on behalf of Sealy Industrial Partners, L.P. (SIP) for an undisclosed amount.
Located on over seven acres in the Southeast submarket and one of Memphis’ most desirable suburbs, this Collierville property boasts easy access to multiple interstates and state highways. Additionally, Collierville is located within two days via truck to 80% of the United States population, near the Memphis International Airport, and west of the Norfolk Southern Intermodal Facility. The property features a rear-load configuration, 22 dock doors, and low office finish.
“This property benefits from Memphis’ reputation and strength as a prominent national distribution market. The tenant’s long-term commitment to the property makes it ideal for adding stability to the rent roll of our growing portfolio,” stated Scott Sealy, Jr., Sealy & Company’s Chief Investment Officer.
Sealy’s acquisitions team, led by Jason Gandy and Scott Sealy Jr., worked closely with Hank Martin of NAI Saig Company out of Memphis, TN to direct the purchase of the property.
For more news and information regarding Sealy & Company, please visit the company’s website at www.Sealynet.com.
About Sealy & Company
Sealy & Company, a fully-integrated commercial real estate investment, and operating company is a recognized leader in acquiring, developing, and redeveloping regional distribution warehouse, 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, located in eight offices, with corporate offices in Dallas, TX and Shreveport, LA. and is the sponsor of Sealy Strategic Equity Partners, L.P. (SSEP) and Sealy Industrial Partners, L.P. (SIP).
View source version on businesswire.com:https://www.businesswire.com/news/home/20190226005277/en/
CONTACT: Kayte H. Hollowell
Director – Marketing| Sealy & Company
KEYWORD: UNITED STATES NORTH AMERICA TENNESSEE TEXAS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES REIT FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Sealy & Company
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PUB: 02/26/2019 06:00 AM/DISC: 02/26/2019 06:01 AM