Sealy & Company acquires the Class A asset currently occupied by FedEx Freight. The property features 252 dock doors, several fuel canopies, a truck servicing station, and ample auto and trailer parking to house the inbound and outbound freight at the truck terminal.
Scott Sealy, Jr., Sealy & Company’s Chief Investment Officer, led the deal alongside Sealy’s Investment Services team.
Dallas, Texas, Oct. 08, 2019 (GLOBE NEWSWIRE) — 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 a 252-dock door Class A truck terminal in the Columbus, OH MSA. The off-market transaction was made on behalf of Sealy Industrial Partners, L.P. (SIP) for an undisclosed amount.
Located at 10 Commerce Parkway in West Jefferson, Ohio, the facility is within a day’s drive of 50 percent of the country, 33 percent of the Canadian population, and 46 percent of US manufacturing capacity. Its accessible location and rapidly expanding bulk industrial submarket have made West Jefferson an attractive submarket for many developers and investors.
The state-of-the-art truck terminal serves as the fourth largest logistics facility for FedEx Freight. It is one of the 12 nationwide dual hubs for the company, and services other users in the market for outbound and inbound freight. The property features multiple fuel canopies, a truck servicing station, substantial auto and trailer parking, and a staggering 252 dock high doors – making it one of the largest truck terminals in the nation.
“We are excited to have the opportunity to acquire a unique asset that serves a strategic mission-critical purpose to an international corporation. The scale of this facility is truly one of a kind, and our investment at 10 Commerce will provide our investors with long-term stable cashflow that is backed by investment-grade credit and pairs well with many of our recent acquisitions. We look forward to continuing to build on our existing relationship with FedEx and our presence in Ohio.” says Sealy & Company’s Chief Investment Officer, Scott Sealy, Jr.
The Investment Services team, led by Scott Sealy, Jr., Jason Gandy, and Tom Herter, worked closely with Ken Szady and Krysti Galvin of Marcus & Millichap’s Institutional Property Advisors to acquire 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 Industrial Partners, L.P. (SIP).
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Kayte Hollowell Sealy & Company 3182228700 [email protected]