Dallas-based Sealy & Co. announced Dec. 27 it has acquired a 163,797-square foot business park on more than 19 acres located on Canyon Drive near Dallas Fort Worth International Airport.
The business park features both a value-add opportunity and 4.15 acres of developable land, according to a news release from the real estate investment firm. This acquisition expands the DFW footprint for Sealy & Company’s investment offering Sealy Strategic Equity Partners (SSEP) and provides further diversification for the growing portfolio.
Terms of the acquisition were not disclosed.
The business park has well-established tenants with a strong history of occupancy at the park, according to Sealy’s news release. The area’s immediate proximity to the DFW Airport allows access to major thoroughfares and good area demographics, making it a desirable destination for institutional owners and tenants, according to the news release.
“The acquisition of this investment provides additional accretive opportunities and provides further diversification of the growing portfolio for SSEP,” said Scott Sealy Jr., vice president business development. “Sealy continues to pursue acquisition opportunities which demonstrate the fundamentals of our Portfolio By Design strategy to acquire quality properties in strategic locations occupied by credit-worthy tenants.”
In April, Sealy & Co. acquired another Fort Worth industrial property, the Carter Distribution Center, a 615,005-square foot Class A bulk warehouse facility situated on more than 27 acres located at 6601 Oak Grove Road in south Fort Worth.