Sealy Indiana Cold Storage Industrial 1 DST
Investment Details
Investment Sponsor: Sealy
Location: Indiana
Current Yield: 4.86%
721 Exchange: None
Property Type: Industrial
In-Place Loan: 0% LTV
Distribution Frequency: Monthly
Estimated Hold Period: 7-10 Years
Investment Description
The asset is comprised of a Class A +/-300,000 SF institutional-quality, climate-controlled distribution warehouse situated on 30 acres. The tenant, Pioneer Hi-Bred is a 100-year-old wholly-owned subsidiary of Corteva Agriscience, a global leader in agricultural science.
Investment Highlights
Sealy Industrial I DST features one industrial property in Anderson, IN, near Indianapolis, which has a strong labor pool and other industrial and distribution activity in the area.
The tenant is Pioneer Seed Company, which is owned by Corteva Agriscience. Corteva is the second-largest agribusiness company in the world. Since this building is near the company headquarters, it is mainly used to store more than $1 billion worth of corn and soybean seeds.
The Property is situated near the region’s second largest employer, Kadlec Regional Medical Center, which provides residents with access to both accessible healthcare and relatively stable, healthcare-related employment opportunities.
Currently, 11 years are remaining on the lease with 5.5% rent escalations every 3 years with two 5-year extension options. The asset is NNN with limited landlord responsibilities. The building was built to suit Pioneer Seed.
Investment Documents
Investment Sponsor
Sealy & Company (“Sealy”) was founded in 1946. Today, Sealy is a recognized leader in acquiring, developing, and redeveloping industrial/flex, regional distribution warehouse, and other industrial properties. Sealy owns and manages more than $3.2 billion of assets under management totaling over 35 million square feet across 31 markets. Sealy’s fully integrated platform, including five offices and over 125 employees, is built on a foundation of proven deal sense, carefully curated market knowledge, and clearly defined investment, operational, and ownership strategies. Sealy strives to provide solutions that create a positive impact and lasting value for their investors, their assets, their employees, and the communities they serve.
Sponsor Historical Performance
This investment sponsor has not realized any DST investment offerings to date.
