Add a quotable“This project offers a unique value add opportunity in a market that continues to show strong leasing demand. The building’s design and configuration will accommodate tenants between 40,000 and 80,000 sq. ft.” -Scott P. Sealy, Jr.
Dallas, TX (PRWEB) June 24, 2014
Sealy & Company, a fully integrated commercial real estate investment and operating company headquartered in Dallas, announced today it recently completed the acquisition of an industrial park totaling approximately 242,000 square feet in Forest Park, Georgia. The acquisition was made through its joint venture with global real estate investment management firm, AEW Capital Management. AEW owned the property on behalf of AEW Partners VII, L.P., the seventh in the firm’s opportunistic fund series.
The investment is located in the Airport/N. Clayton industrial market, which is the largest submarket in Atlanta. Showing steady signs of improvement, the submarket has a current overall vacancy rate of 11.2% and has achieved seven straight quarters of positive absorption.
“Consisting of nearly 242,000 square feet of high-quality, functional, industrial, brick and block construction buildings, this portfolio is a great value investment for us. We are seeing leasing velocity steadily improving in Atlanta, and gradually attracting a larger tenant base” stated Scott Sealy Jr., Vice President and Business Development for Sealy & Company. “This project offers a unique value add opportunity in a market that continues to show strong leasing demand. The building’s design and configuration will accommodate tenants between 40,000 and 80,000 sq. ft.”
The JV continues to focus on assets and portfolios in major industrial markets with a defined investment size between $5 and $100 million.
For more news and information regarding the Sealy/AEW Joint Venture, Sealy Strategic Equity Partners (SSEP), or Sealy & Company, please visit the company’s webpage at http://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. In addition to this Joint Venture, Sealy & Company is the sponsor of SSEP, a private equity offering and diversified limited partnership, primarily comprised of industrial real estate assets.
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage over $39 billion of capital invested in $53.5 billion of property and securities in North America, Europe and Asia (as of March 31, 2014). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Hong Kong and Singapore, as well as additional offices in eight European cities. For more information please visit http://www.aew.com.
For further information, please contact:
Kayte H. Hollowell
Sealy & Company
Corporate Marketing and Communications