Sealy & Co. Acquires Kansas City Distribution Center
This transaction occurs as the city transforms into a national industrial hub.
7601 Gardner Avenue. Image courtesy of Sealy & Company.
Sealy & Co. has purchased a 70,000-square-foot distribution facility located at 7601 Gardner Ave. in Kansas City, Mo. Sealy & Co. purchased the property in an off-market deal with the building’s owner, Koscielny Property Management.
Sealy & Co. Investment Services directors Jason Gandy and Davis Gibbs arranged the sale with the building’s previous owner, Koscielny Property Management, represented by CBRE Senior Vice President Austin Baier. The property sold for an undisclosed amount.
The sale of 7601 Gardner Avenue take place as Sealy & Co. continues to acquire industrial space throughout the Midwest. In the second quarter of 2022, Sealy & Co. acquired AeroPlex One & Two, a 600,000-square-foot industrial development in Romulus, Mich. Sealy & Co. has also purchased a 438,000-square-foot Etna Township, Ohio, logistics facility.
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Originally constructed in 1994, 7601 Gardner Ave. is used primarily as a warehouse and distribution facility, fully leased and occupied by Cardinal Health, according to CommercialEdge data. The complex is located within a mile of Interstate 435, offering quick shipping access to downtown Kansas City.
Kansas City’s transformation
The Kansas City area continues to see growth in its industrial sector, as the city transforms into a national industrial hub. A combination of increased demand and development has led to the construction of eight buildings, totaling 3 million square feet of space in the second quarter of 2022, with another 8 million slated for completion by the end of the year, according to a CBRE report from the same period. The average vacancy rate has dropped to 4.9 percent, according to the same data.
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