"The El Paso acquisition represents a rare opportunity to acquire Class A assets with modern building features such as 180’ truck courts, adequate clear heights, excellent distribution access, and excess trailer parking” stated Scott Sealy Jr, VP of Sealy
Dallas, TX (PRWEB) June 22, 2015
Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, on behalf of the company’s investment offering, SSEP, announces the acquisition of 902,715 square feet of Class A industrial assets. Four buildings totaling 758,715 sf are located in El Paso, TX and the remaining building totaling 144,000 sf is located in Harlingen, Texas. The assets are among the highest quality in their market and the acquisition basis is below replacement cost which is consistent with SSEP’s acquisition strategy.
The portfolio consists of 5 buildings developed between 1997 and 2001 and is 95% occupied by creditworthy tenants who have had a long history in these locations. The El Paso industrial market is showing strong fundamentals and is a strategic market addition to the SSEP portfolio. The portfolio is located less than 5 miles from the Zaragoza Bridge, which is the main distribution border crossing between Juarez, Mexico and El Paso.
The El Paso portfolio satisfies the objectives of SSEP’s “Portfolio By Design” strategy which includes blending three key investment elements: quality industrial properties, strategic locations, and creditworthy tenants. These assets complement the existing SSEP portfolio due to the excellent quality and location of each building combined with tenants boasting long tenures and significant remaining lease terms.
“The El Paso acquisition represents a rare opportunity to acquire Class A assets with modern building features such as 180’ truck courts, adequate clear heights, excellent distribution access, and excess trailer parking” stated Scott Sealy Jr., Vice President Business Development for Sealy & Company. “As a result of this acquisition SSEP’s cash flow, portfolio occupancy, and diversification will increase”.
For more news and information regarding Sealy & Company, please visit the company’s website 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. Sealy & Company is the sponsor of SSEP, a private equity offering and diversified limited partnership, primarily comprised of industrial real estate assets.
For further information, please contact:
Kayte H. Hollowell, Corporate Marketing and Communications
Sealy & Company
318.222.8700 | KayteH(at)Sealynet(dot)com