EverWest Approaches $50 Million of Southern California Activity in First 30 Days of 2021

 

Kristen Bowman 

CARLSBAD, CA and REDONDO BEACH, CA – In the first 30 days of 2021, leading real estate investment company EverWest Real Estate Investors has completed almost $50 million in commercial real estate transactions in Southern California.

Erik Good.

 Representing two industrial and flex/office assets – one in Redondo Beach and one in Carlsbad – the activity underscores a steady demand for high-quality, West Coast investment opportunities.

3209 Lionshead Ave. Carlsbad, CA

In Carlsbad, EverWest has completed the $25.25 million acquisition of 3209 Lionshead Ave. The 74,774-square-foot industrial headquarters is fully occupied under a long-term lease by prAna Living, a subsidiary of Columbia Sportswear.

In Redondo Beach, EverWest has completed the $24 million sale of LINQ, a 50,000-square-foot creative office project located at 2400 Marine Ave., just south of El Segundo and adjacent to Manhattan Beach, I-405 and the Redondo Beach MetroLink.

Steve Solomon

“The prAna headquarters gives us a long-term credit investment in a high-demand Southern California location,” said EverWest Managing Director of Acquisitions Erik Good.

“In spite of an uncertain economy, this region continues to experience notable deal volume and stability. San Diego County, in particular, achieved more than 2.3 million square feet of net absorption in 2020 and sustained steady rent growth, driven by life sciences and distribution companies.”

Built in 2009, the parAna headquarters includes a 24’ clear height warehouse and modern creative offices, 130’ truck court, three dock high and four drive-in doors, and proximity to I-5 and I-15.

EverWest acquired LINQ in 2017 in a joint venture purchase with Chilean-based Frontal Trust, an alternative asset management firm with a focus on real estate, private equity in financial services, private debt and infrastructure investments.

Andrew Harper

The property has a single-story, bungalow-style design with private tenant entrances, glass roll-up doors, a modern lobby, indoor/outdoor workspaces, tenant common area with a furnished deck, and a wrap-around boardwalk.

Following acquisition, EverWest built out and leased approximately 10,000 square feet of available space at LINQ as two move-in-ready office suites. The building is now 100 percent occupied, including two national credit tenant anchors.

“LINQ achieved our value-add objectives and secured a sale that exceeds pro forma returns, even during the height of COVID,” said EverWest Managing Director of Asset Management Amr Ceran.

Rick Reeder

Steve Solomon, Kristen Bowman and Andrew Harper represented EverWest in the LINQ transaction. The buyer was a high-net-worth investor.

EverWest represented itself in the Lionshead Avenue acquisition. Rick Reeder, Brad Tecca and Aric Starck of Cushman and Wakefield represented the property sellers, Graymark Capital and Blue Vista.

EverWest continues to seek out value-add acquisition opportunities in U.S. growth markets.

About EverWest Real Estate Investors LLC

EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado.

Brad Tecca

The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets.

For more information on EverWest, please visit www.everwest.com. For more information on GWL Realty Advisors, visit www.gwlra.com.

 

Contact: 

 

Stacey Hershauer

focusAZ 

 P 480.600.0195

www.focusaz.com