An affiliate of Sealy & Co. has acquired a recently built distribution warehouse totaling nearly 500,000 square feet in the far northwest Houston area near Waller.
The 479,806-square-foot building at 18140 Kickapoo Road was acquired by Sealy Industrial Partners for an undisclosed price.
“Houston’s rapidly growing industrial market and increasingly low vacancy rates are attractive to us,” Scott Sealy Jr., the company’s chief investment officer, said in an announcement.
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The property, on the south of U.S. 290 about eight miles past the Grand Parkway, was developed by Broad-Ocean, a China-based manufacturer of electric motors. The building is across U.S. 290 from the expansive Daikin Texas Technology Park. Broad-Ocean is a supplier to heating and cooling equipment maker Daikin.
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Broad-Ocean, which leases the property, offer the new owner stable occupancy for several years, according to Sealy & Co.
“This is a core asset with features we believe to be attractive to many of the surrounding manufacturers, suppliers, and distributors,” Sealy said. “We’re looking forward to executing our strategy of acquiring at a discount to replacement cost and stabilizing the asset.”
Scott Sealy Jr., Jason Gandy, and Tom Herter led the Sealy investment services team on the transaction, while Tom Lynch and Mark Redlingshafer of CBRE represented the seller.
Sealy & Co. a commercial real estate investment and operating company with corporate offices in Dallas and Shreveport, La.
For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at: www.houstonrealtyadvisors.com Thank you for your interest.
