Sealy & Company has recently completed the acquisition of the 232,307-square-foot light industrial portfolio, Northwest Point Business Park, located on Brittmoore Road in northwest Houston, Texas.
"We are excited to start 2016 with the acquisition of Northwest Point. This transaction is representative of Sealy's strategy and goal of growing our presence in the Houston market through opportunistic acquisitions," stated Derrick Jones, Houston Regional Director for Sealy & Company.
According to the press release of Sealy & Company in Business Wire, Northwest Point Business Park has four institutional quality industrial buildings strategically located at the intersection of Highway 290 and Beltway 8 in Houston. At present, the property is 100 percent leased by 10 tenants that have been occupying the property for over three years. Tenants of the Northwest Point Business Park range from manufacturing and distribution to food processing.
"Northwest Point Business Park is located in an area with strong institutional ownership, high barriers to entry given the rising land costs, and limited opportunity for new development, which should allow our leasing team to increase rents to market," stated Scott P. Sealy, Jr., Vice President of Business Development.
The acquisition of the Northwest Point Business Park was made on behalf of the company's investment offering, Sealy Strategic Equity Partners (SSEP), and provides expansion and additional diversification of the fund's existing portfolio in Houston and nationwide.
Sealy & Company is a fully-integrated commercial real estate investment and operating company that specializes 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 their development, management, and brokerage divisions.
At present, Sealy & Company has over 100 employees, located in eight offices, with corporate offices in Dallas, TX and Shreveport, LA. The company is also sponsoring the Sealy Strategic Equity Partners (SSEP), a private equity offering and diversified limited partnership, primarily comprised of industrial real estate assets.
