DALLAS--Sealy & Co., on behalf of the company's investment offering SSEP, has acquired a portfolio of 902,715 square feet of class A industrial assets in El Paso and Harlingen, TX. Four buildings totaling 758,715 square feet are located in El Paso; the remaining building totaling 144,000 square feet is located in Harlingen. 

The assets were developed between 1997 and 2001 and are 95 percent occupied by credit-worthy tenants who have had a long history in the locations. The portfolio is located less than five miles from the Zaragoza Bridge, 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 credit-worthy tenants. The firm says the 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-foot truck courts, adequate clear heights, excellent distribution access and excess trailer parking” Jason B. Gandy, managing director for investment services at Sealy & Co., told GlobeSt.com. “As a result of this acquisition SSEP's cash flow, portfolio occupancy and diversification will increase.”