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Holt Holds Tight to 685,000-SF Industrial Assignment

HOUSTON-New owner Sealy & Co. foregoes a competitive search for a leasing and property manager for 685,000 sf in five industrial buildings, opting to stick with their five-year overseer. Talks to rework the deal began as soon as the trade was sealed.

By Jennifer Brenner Andrade | Updated on April 25, 2004

HOUSTON-The Houston office of Dallas-based Holt Cos. has retained leasing and management of 685,000 sf of industrial product in a reworked deal with the portfolio’s new owner, Sealy & Co.

The win was a relatively easy one since Holt already leases 800,000 sf of Sealy-owned properties around town and was overseer for the just-bought properties for the last five years. In mid-March, Sealy acquired 1.8 million from TA Associates Realty of Boston, paying 10% or more above the $40.1-million assessed value for five properties in Houston and nine in Dallas as reported by GlobeSt.com. Edward Bane, partner with the Holt Cos., tells GlobeSt.com that negotiations began immediately after the trade, with Sealy foregoing any competitive search for the leasing and management jobs.

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