PHOENIX, AZ – The Phoenix office of Jones Lang LaSalle has completed a building sale and relocation that consolidates four local manufacturing operations for Sealy Mattress Co. into one larger location, and keeps one of the world’s largest bedding brands in the Phoenix market.
Managing Directors Anthony J. Lydon (top right photo), SIOR, and Marc Hertzberg (middle left photo), SIOR, of Jones Lang LaSalle represented property buyer DCT Industrial Trust Inc. (NYSE: DCT) in its $1.8 million purchase of the former Sealy building, located at 48th Avenue and Van Buren Street.
Colorado-based DCT is a leading U.S. real estate company that specializes in high-quality bulk distribution and light industrial properties. DCT plans to lease the building and hold the property in its portfolio, which at the end of third quarter 2011 totalled 78.4 million square feet of space that it owned interests in, managed or had under development.
Sealy will move to 125 S. 67th Ave. in Phoenix, where it has committed to a 10-year, 120,801-square-foot lease in the Five Star Distribution Center (lower right photo). Lydon and Hertzberg represented the Center’s builder, Scottsdale, Ariz.-based Five Star Development, an integrated real estate development company specializing in management, development and investment around the globe.
Sealy was represented in both transactions by Dev Gupta, Vice President at UGL Services – Equis Operations in Phoenix, and Scott Goldman, Executive Vice President at UGL Services – Equis Operations in Chicago. The manufacturer will move to its new space in the Five Star Distribution Center by June 2012.
“Sealy’s challenge was compounded by a limited number of space solutions that matched the optimal building dimensions for its manufacturing process,” said Lydon.
The former Sealy facility totals 76,401 square feet of warehouse/distribution space at 4802 W. Van Buren St., just one mile south of I-10 in Phoenix. Lydon and Hertzberg have been named the exclusive leasing agents for the property and are now marketing the building, which totals 76,401 square feet (3,828 square feet of office; 2,088 square feet second-story office).
Five Star Distribution Center sits in a major transportation corridor, is in close proximity to I-10 and the Loop 101 freeway, and is adjacent to the Union Pacific Railroad. Sealy will fill approximately half of a 251,668-square-foot building in the Center.
The other half of the building is occupied by CVS. Other corporate neighbors include Swift Transportation, Holsum Bakery, Target Distribution and Alliance Beverage.
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