Sealy & Co. has purchased Great 290 Distribution Center, a 500,840-square-foot industrial facility in Houston, from Pagewood. Sealy used a $50 million line of credit from KeyBank to aid in the sale. JLL negotiated on behalf of the seller. The facility is at 2120 Field Store Road, 43 miles from downtown Houston, in Waller.
Daikin Comfort Technologies occupies the entire property as its sole tenant.There is still 3.6 years remaining on the lease term. The indoor HVAC manufacturer also has a 4 million-square-foot plant just 3 miles away.
Commercial Edge reports the Great 290 Distribution Center came online in 2023, with the developer benefitting from a $36.1 million construction loan from Prosperity Bank.
Features at the Class A warehouse include 106 dock-high loading doors and four drive-in doors, 36-foot clear heights, 280 parking spaces, as well as 185-foot truck courts. The cross-dock building has 130 trailer stalls and pit levelers. Additionally, the property includes 10 acres of developable land.
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Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.