ST. ROSE- With the exception of 17 acres in James Business Park near Louis Armstrong Airport, Sealy & Company Inc has announced the sale of many of its industrial and office building holdings in St. Rose and New Orleans area. The company will continue to expand its assets in James Business Park.

However, Sealy will maintain a strong presence in Louisiana to help manage the properties, and to acquire other assets in the state. The sale came as part of a larger transaction in which Sealy sold property in Shreveport, Baton Rouge, San Antonio, Texas and Columbus, Ohio.

The properties were sold to the Lightstone Group for $137,950,000. The total square footage sold is approximately 2.7 million, with 721,000 square feet in the New Orleans area.

Sealy & Company, in partnership with Lubert-Adler of Philadelphia, held the property for five years and the value has increased, with 95% of the property leased.

The sale of the buildings to Lightstone Group brings the company’s total national operating market to 29, and 35 million square feet.

&#8220Lubert-Adler met all their investment goals for this portfolio of buildings,” said Daniel Poulin, senior regional director for Sealy & Company. Poulin will continue to head the Sealy South Louisiana Office and direct expansion.

&#8220We expect the assimilation of their organization into our system to be seamless, and look forward to their contribution to Lightstone’s future growth,” he said.