Skip Ribbon Commands
Skip to main content

News release

PHOENIX, AZ

JLL Orchestrates Building Sale; New Lease for Sealy Manufacturing

Consolidates four local Sealy operations into a new 120,801-square-foot facility


PHOENIX, Feb. 22, 2012 – 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, SIOR, and Marc Hertzberg, 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. 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.
Jones Lang LaSalle is a leader in the Phoenix commercial real estate market. Employing 344 of the area’s most recognized industry experts, the firm offers office and industrial brokerage, tenant representation, facility and investment management, capital markets and development services. In 2010, the Phoenix team completed 3.2 million square feet in lease transactions, directed $60 million in project management and currently has 13.5 million square feet under management.

For more news, videos and research resources on Jones Lang LaSalle, please visit our U.S. media center Web page.
About DCT Industrial Trust Inc. ®

DCT Industrial Trust Inc. is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico. As of September 30, 2011, the Company owned interests in, managed or had under development approximately 78.4 million square feet of properties leased to more than 900 customers, including 14.6 million square feet managed on behalf of three institutional joint venture partners. Additional information is available at www.dctindustrial.com.

About Five Star Development
Five Star Development is an integrated real estate development company managing, developing and investing around the globe in five asset classes: Residential, Hospitality, Retail, Office and Industrial. A privately held business established in 1978, the company’s portfolio spans more than 15 million square feet of space across Texas, Arizona, California and Mexico. Five Star’s broad-based experience and financial stability is backed by personalized service, innovation and market-leading expertise.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.7 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.