Constructing One. Picture courtesy of Sealy & Co.
Sealy & Co. has bought Constructing One among I-35 Logistics Park, a 569,584-square-foot distribution and warehousing facility in Olathe, Kan. Scannell Properties bought the Class A asset with the help of JLL. The client was self-represented.
Accomplished this June, Constructing One is totally leased to Clorox, in response to CommercialEdge data. The asset, constructed on 45.3 acres, includes a 36-foot clear top, a 136-foot truck courtroom, 76 dock-high mechanical loading doorways and three drive-in loading doorways. The ability can be arrange for a doable 130,416-square-foot enlargement.
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Constructing One got here on-line at 1508 S. Inexperienced Street as a part of I-35 Logistics Park, one of many largest speculative developments in Kansas Metropolis. The economic complicated will embody greater than 3.2 million sq. toes throughout six buildings when full.
Located in one of many area’s most sought-after industrial corridors that includes tenants resembling FedEx and XPO Logistics, the ability is inside 7 miles of Interstate 35 and near the BNSF Worldwide Intermodal Facility. The placement is a few 10 miles from one other Sealy property, a 210,504-square-foot warehouse that the agency acquired in 2021.
Sealy & Co. seals the deal
Sealy & Co. Managing Director Jason Gandy and Director David Gibbs led the Funding Providers staff that organized the acquisition.
The agency is a extremely energetic industrial investor all through the Midwest. In September, Sealy bought a 1.1 million-square-foot industrial portfolio in Dayton, Ohio, in addition to a 713,796-square-foot distribution facility close to Detroit.
Industrial upswing in Kansas Metropolis
Attracting funding and growth endeavors from a number of the sector’s largest gamers, Kansas Metropolis’s industrial market has seen constructive tends throughout practically all of its main metrics.
In line with information from a 3rd quarter 2022 report from CBRE, the metro had 13.6 million sq. toes of house in its pipeline on the finish of September. Greater than 4 million sq. toes had been leased in Q3, resulting in an general emptiness charge of 4 p.c, down 90 foundation factors over the quarter.
