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Chicago & Midwest  + Midwest  + Industrial  |  September 9, 2021
St. Louis five-building industrial portfolio Sealy & Company
Paul Bubny
By: Paul Bubny

Sealy Bolsters St. Louis Presence with Five-Building Portfolio

Sealy & Company acquired a five-building, 554,007-square-foot industrial portfolio in St. Louis from Altus Properties. The acquisition was made for an undisclosed amount. 

With this acquisition, which follows a smaller-scale deal in August, Sealy’s St. Louis-area holdings account for nearly 13% of its 20 million-plus square feet of total assets. “St. Louis is a top-tier market in which we have found great success investing in quality, value-add industrial assets,” said Jason Gandy, Sealy’s managing director of investment services. 

Cushman & Wakefield’s Michael Hanrahan represented Altus in the sale. Gandy and senior investment associate Davis Gibbs brokered the sale on behalf of Sealy. 

The portfolio is located within two of the metro area’s strongest submarkets, Mid County and North County, both benefiting from Interstate access and labor pool accessibility as well as close proximity to St. Louis’s Lambert International Airport. “We intend to maintain the portfolio’s institutional quality ownership,” Gandy said. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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