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| Two-building, 219,000-square-foot speculative industrial project at 14901 North Washington Street fronting Interstate 25 in Thornton, CO |
THORNTON, CO, July 22, 2020 – Continuing
its bullish industrial acquisition strategy, Denver-based EverWest Real
Estate Investors has purchased a two-building,
219,000-square-foot speculative industrial project fronting Interstate 25 in
Thornton, Colorado.
The property includes an adjacent, pad-ready site where
EverWest will soon begin development on a third, 121,000-square-foot Class A
industrial building, and acreage for additional phases to be developed by
EverWest based on market demand.
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| Phil Larger |
EverWest purchased the I-25 project in joint venture with
Invesco and will serve as project developer. The property seller was RE II
Industrial II LLC.
“This is the third off-market U.S. industrial acquisition
that EverWest has completed in as many months, and is the only investment
offering a new development opportunity,” said EverWest Director of
Acquisitions Phil Larger.
"With this acquisition we are positioned to answer North
Denver’s need for move-in-ready, Class A space in a market with limited
immediate supply and where we foresee steady industrial demand for years to
come.”
Located at 14901 N. Washington Street, the project fronts
I-25 with direct access from Washington and Grant streets. It is minutes from
E-470 and Highway 7, surrounded by a host of quick-serve restaurants and within
a submarket where the population of skilled workers exceeds local jobs.
“This is an ‘A’ location on many levels,” said EverWest
Executive Vice President of Development and Asset Services, Larry Lance.
“The deal gives us immediate industrial inventory and a
shorter-than-normal development timeframe for the third building’s delivery in
a very high-demand market.”
Building three is being developed by EverWest as LEED
Certified. The I-25 acquisition also includes 46.4 acres of undeveloped land,
on which EverWest has the option to build a Phase II and III totaling an
additional 590,000 square feet of new Class A, LEED Certified industrial
development over time.
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| Larry Lance |
EverWest is an active investor and lender across the United
States, including regional activity in the Western and Southwestern U.S.
spanning industrial, office and multi-family product.
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.
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.
CONTACT:
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focusAZ
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