Sealy Acquires 650 KSF Ohio Distribution Facility
The owner, Exel Inc., sold the property to Sealy in a $40 million deal, marking the second time in three months the property changed hands.
By Roxana Baiceanu
Creekside IX, Columbus, Ohio
Sealy & Co. re-entered the Columbus, Ohio market by acquiring Creekside IX, a 652,195-square-foot distribution center in Lockbourne, Ohio. The asset is part of Creekside Industrial Center, a 21-building business park offering more than 11 million square feet of industrial space within the Southeast submarket of Columbus.
PropertyShark records indicate that Searly & Co. bought the facility from Exel Inc. on behalf of Sealy Strategic Equity Partners in a $40 million deal. This is more than $5 million over the price Exel paid when it acquired the warehouse from Pizzuti in April 2017. The buyer had made another acquisition of a St. Louis industrial facility in Spring 2017.
Surpassing expectations
Creekside IX was completed in 2015 and is currently fully occupied by a multinational corporation. The building incorporates state-of-the-art features such as:
- 32-24-foot clear heights
- T-5 lighting
- ESFR fire suppression systems
- cross-dock configuration
- 60-foot loading bays
The warehouse’s location within the 500-acre Creekside Industrial Center makes it easily accessible from interstates 270 Loop, 70 and 71, the Port Columbus International Airport, the Rickenbacker Air Industrial Park and the Norfolk-Southern Intermodal facility.
Image courtesy of Sealy & Co.
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