(To read more on the industrial market, click here.)
HOUSTON-In an off-market transaction, Sealy & Co. hasacquired a fully leased, 346,515-sf distribution center on a20-acre tract in the northeastern tier. The new owner, faced with aticking clock on a single-tenant lease, has jumped into retentiontalks with Exel Logistics.
Sealy, which has headquarters offices in Dallas and Shreveport,LA, has been making a return play for industrial product in theGreater Houston market after selling its portfolio a few years ago.With that as a well-known fact, NAI Houston senior associateBarrett Gibson and principal John Ferruzzo put the single-tenant,net-leased deal for 8855 City Park Loop on Sealy's table. "WithSealy coming back into the city, it seemed like a perfect fit forthe two parties," Gibson tells GlobeSt.com.
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