DALLAS--(BUSINESS WIRE)--Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, announces the acquisition of Northwest Point Business Park, a 232,307 square foot light industrial portfolio located on Brittmoore Road in northwest Houston, Texas. This acquisition was made on behalf of the company’s investment offering Sealy Strategic Equity Partners (SSEP) and provides expansion and further diversification of the fund’s existing portfolio in Houston and nationwide.
The Park consists of four institutional quality industrial buildings strategically located at the intersection of Highway 290 and Beltway 8 in Houston. Currently 100% leased to 10 tenants, the park’s occupancy represents a cross section of industries from manufacturing and distribution to food processing. The average tenant has occupied the space for over three years, highlighting not only the functionality of the buildings but the tenant’s commitment to the property. Additionally, by design the suites range from 4,695 to 76,880 square feet in order to accommodate a variety of tenants.
“Northwest Point Business Park is located in an area with strong institutional ownership, high barriers to entry given the rising land costs, and limited opportunity for new development which should allow our leasing team to increase rents to market,” stated Scott P. Sealy, Jr., Vice President Business Development.
The Northwest Houston submarket has seen strong activity in the past two and a half years resulting in a vacancy rate of 4.7%. “We are excited to start 2016 with the acquisition of Northwest Point. This transaction is representative of Sealy’s strategy and goal of growing our presence in the Houston market through opportunistic acquisitions,” stated Derrick Jones, Houston Regional Director for Sealy & Company.
For more news and information regarding Sealy & Company, please visit the company’s website at 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. and is the sponsor of SSEP, a private equity offering and diversified limited partnership, primarily comprised of industrial real estate assets.