KANSAS CITY, Kan.--(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 a 513,751 square foot warehouse distribution center in Kansas City, KS. The off-market transaction was made on behalf of Sealy Industrial Partners, L.P. (SIP) for an undisclosed amount.
The property is located at 5300 Kansas Avenue in the strategic Wyandotte County Industrial submarket and is currently 100% leased. The centrally located infill property is situated on a site of over 21 acres with an adjacent storage lot of 2.75 acres and features recent improvements including a new roof and ESFR fire suppression system. Just five miles from downtown Kansas City and 10 miles from Kansas City International Airport, the site offers exceptional regional access with proximity to I-35, I-70, I-435, and Kansas City intermodal centers.
The warehouse distribution center was recently leased to major tenant, Overstock.com, Inc. The opening of the central Kansas City warehouse has allowed Overstock.com, a billion-dollar online retailer for affordable home décor and furniture, to bring two-day shipping to 99% of its U.S. customers.
“We continue to invest in infill properties at a discount to replacement cost, as our investment strategy continues to prove to be rewarding. Last-mile fulfillment centers like this property are the backbone of modern supply chains and are a favorable asset class. The ability to be so centrally located in the U.S. is ideal for a retailer like Overstock, and we are looking forward to our relationship with the tenant,” says Sealy & Company’s Chief Investment Officer, Scott Sealy, Jr.
The Investment Services team, led by Scott Sealy, worked closely with Mark Long of Newmark Grubb Zimmer to acquire the property from BH Properties.
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 Sealy Industrial Partners, L.P. (SIP).