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Lightstone Takes 41 Buildings for $150M

LAKEWOOD, NJ-The local investment group grabs 2.5 million sf of warehouse, flex and office space in Louisiana, Texas and Ohio for $60 per sf.

By Sean Ryan | Updated on February 07, 2007

(To read more on the industrial market, click here.)

LAKEWOOD, NJ-The Lightstone Group has acquired a 41-building, 2.5-million-sf portfolio in Louisiana, Texas and Ohio for $150 million. The Sealy Co., based in Shreveport, LA, and its joint venture partner Lubert Adler sold the office, warehouse and flex portfolio.

The properties sold for an overall rate of $60 per sf, and are roughly 68% distribution, 27% flex and 5% office. Sealy will continue to manage the portfolio. The exact location of each property was not disclosed.

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