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EverWest Real Estate Investors Nabs 219k sf CO Spec Industrial Project

7/24/20

Denver-based EverWest Real Estate Investors has purchased a two-building, 219k sf spec industrial project fronting Interstate 25 in Thornton, CO. The property includes an adjacent, pad-ready site where EverWest will soon begin development on a third, 121k sf Class A industrial building, and acreage for additional phases to be developed by EverWest based on market demand.

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. The price was not disclosed.

“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 St, the project fronts I-25 with direct access from Washington and Grant streets. It is minutes from E-470 and Hwy 7, surrounded by a host of quick-serve restaurants and within a submarket where the population of skilled workers exceeds local jobs.

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 590k sf of new Class A, LEED Certified industrial development over time.




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