Sealy & Company Expands Presence in Two New Markets in Back-To-Back Transactions – Pittsburgh, Pennsylvania and Des Moines, Iowa

The two transactions add 369,812 square feet of Class A industrial property to Sealy’s growing portfolio.

DALLAS, June 23, 2022–(BUSINESS WIRE)–Sealy & Company, a fully integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, announces two consecutive transactions totaling 369,812 square feet of class-leading industrial properties A located in two new markets of Pittsburgh, PA, and Des Moines, IA. The transactions were made for an undisclosed amount.

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Sealy & Company expands presence in two new markets in back-to-back transactions – Pittsburgh, Pennsylvania and Des Moines, Iowa (Photo: Business Wire)

The Imperial Light Industrial portfolio, located in Pittsburgh, consists of two newly constructed Class A industrial properties totaling 148,172 square feet. The buildings feature flexible and efficient floor plates that can meet a wide range of tenant needs including office, distribution and laboratory capacities, and have been carefully designed to include LED lighting, sprinkler systems ESFR, one loading door per 8,232 square feet, in addition to significant tenant amenities. The portfolio can accommodate a range of tenant requirements starting at 6,240 square feet, a unique offering in the industrial market, making these highly functional industrial properties extremely expensive to replicate. The Imperial Light Industrials Portfolio is located in Chapman Westport, a newly developed and planned industrial park in one of Pittsburgh’s most dynamic and desirable locations. The park provides convenient access to Pittsburgh’s population centers and transportation arteries. The main tenants of this industrial pocket are Amazon, General Electric, Gordon Foods, Max Finkelstein and Niagara Bottling.

Crosswinds II consists of a modern 221,520 square foot Class A distribution center located in the rapidly growing town of Ankeny, Iowa, a northwest suburb of Iowa’s capital, Des Moines. Construction was completed in 2022 and provides tenants with state-of-the-art amenities such as 32′ headroom, 136′ truck lot with dual access, ESFR sprinkler systems, high horsepower, 30 dock doors, ample parking for cars and trailers, and highly visible tenant signage. The building is conveniently located with exceptional access to Interstates 80/35, providing interstate transportation from coast to coast and from Canada to Mexico. As Iowa’s largest city, Des Moines enjoys a high concentration of well-paying jobs that have helped attract and retain a highly skilled workforce. According to CoStar, the metro has grown rapidly in recent years, growing nearly 17% between 2010 and 2020. This makes Des Moines one of the fastest growing metropolitan areas in the Midwest and nation.

“Our investment services team has been firing on all cylinders this quarter. We are pleased with the deals, both in-market and off-market, that we have been able to underwrite and pursue so far in 2022. We will continue to pursue our portfolio in design strategy, expand our footprint and remain one of the most active private buyers of industrial real estate,” said Davis Gibbs, director of investment services at Sealy & Company.

Jason Gandhi, Manager Director – Investment Services, and Mr. Gibbs led the transactions for Sealy & Company. JLL’s John Plower represented the seller of the Imperial Light Industrial portfolio. John Hassler of Newmark Zimmer represented the seller of Crosswinds II.

For more news and information about Sealy & Company, please visit the company’s website at www.Sealynet.com.

Sealy & Company

Sealy & Company, a fully integrated commercial real estate investment and operating company, is a recognized leader in the acquisition, development and redevelopment of regional distribution warehouses, industrial/flex properties and other commercial properties. Sealy provides a full service platform to high net worth individuals and institutional investors through our development, management and brokerage divisions. Sealy & Company has an exceptional team of over 100 employees, spread across eight offices, with headquarters in Dallas, TX and Shreveport, LA.

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contacts

Kayte H. Hollowell
Director – Marketing | Sealy & Company
318.222.8700 | KayteH@Sealynet.com