EverWest Acquires Industrial Asset

341-345 North Baldwin Park Boulevard City of Industry, California

August 4, 2017

EverWest Real Estate Partners is pleased to announce the acquisition of 341-345 North Baldwin Park Boulevard, a 165,681 square foot, three-building industrial distribution project. 
 
The property is located in a prime City of Industry location in the heart of San Gabriel Valley with direct access to I-10 and I-605.  City of Industry is a logistical hub of the multi-modal corridor between Port of Los Angeles and the major East-West Freight Routes.
 
Erik Good, Managing Director with EverWest, comments, "We are pleased to have been able to add this strategic infill asset to our industrial portfolio at an advantageous basis in an off-market acquisition." 
 
EverWest acquired this asset on behalf of one of its investment management clients.
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EverWest Acquires Creative Office Asset

2130 - 2140 West Fulton Street Chicago, IL

June 29, 2017

EverWest Real Estate Partners, in partnership with Rifkin & Associates, Inc., is pleased to announce the acquisition of 2130-2140 West Fulton Street. 
 
The asset includes two vintage multi-tenant creative office buildings connected via an interior corridor containing 48,523 rentable square feet.
 
The properties are located in the heart of the Kinzie Corridor and approximately 0.75 miles due west of Chicago's rapidly developing Fulton Market.  The property is located three blocks northwest of the proposed Lake and Damen CTA L station scheduled to open in the next two to three years which will greatly enhance access to the property and increase demand for the neighborhood overall. 
 
Tom Karbowski, Managing Principal with EverWest, comments, "We are excited about this being our first investment in the rapidly growing Fulton Market/Kinzie Corridor area and we continue to look for similar opportunities." 
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EverWest Acquires Core Office Asset


April 18, 2017

EverWest Real Estate Partners, in partnership with Independencia, is pleased to announce the acquisition of South Towne Corporate Center, one of the premier Class  "A" suburban office projects in the Salt Lake City market.  Completed in 2000 and 2006, the property is comprised of two best-in-class, six story office buildings, encompassing a total of 262,219 rentable square feet and situated on 10.7 acres. 
 
South Towne Corporate Center is strategically located within Salt Lake City's technology corridor - the "Silicon Slopes" - comprised largely of biotechnology, education, retail, and creative firms.  This submarket is located 13 miles south of Downtown Salt Lake towards the southern end of the Salt Lake County.  
 
The properties feature dramatic two-story wood and stone-clad lobbies, efficient floor plates, three high speed elevators in each building, base storage, "smart building" high-tech features such as CAT 6 wiring and computer-controlled access monitors, upgraded electrical and command security systems, and a 5.9.1,000 USF parking ratio provided in a combination of service and structured parking stalls. 
 
Larry Lance, Managing Partner with EverWest, comments, "EverWest is excited with this initial investment in the Salt Lake City market - the millennial growth, educated labor force, and expanding tech base position this market as an attractive strategic expansion for EverWest.  The quality of the assets and tenant profile complement our growing portfolio with Independencia and we're ethusiastic to complete another investment in this partnership." 
 
Juan C. Sanchez, of Independencia Asset Management, noted, "We are very excited with our Core Properties Portfolio that we are acquiring together with EverWest.  South Towne Corporate Center, Sandy, Utah became the fourth investment from our partnership with EverWest, and we hope to continue investing in the Mountain West region in the upcoming years."
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EverWest Redevelops Industrial Site to Creative Office


April 13, 2017

EverWest Real Estate Partners, in partnership with WHI Real Estate Partners L.P. is pleased to announce the acquisition of 2498 E. 6th Street.  
 
The property is located in East Austin, Texas, a rapidly gentrifying micro-market within 1.5 miles from the center of the Austin CBD and a 10 minute walk to the light rail station.  The East Austin neighborhood is quickly becoming one of the most progressive areas of Austin. 
 
This asset currently consists of four tracts totaling 3.06 acres with two adjacent warehouse buildings which will be repurposed and converted to creative office space.  The rehab will include an additional 15,000 square feet of mezzanine office space, which will bring the fully rehabbed square footage to 80,000 square feet. The remaining area will provide parking for the facility.
 
Once completed, the development will deliver Class A creative office space that is unique to the market and difficult to replicate.  Construction is scheduled to commence 2nd quarter of 2017 and delivered to the market 4th Qtr 2017 - 1st Qtr. 2018.
 
Larry Lance, Managing Partner with EverWest, comments, "We intend to provide a state of the art asset unique to the market as part of EverWest's greater adaptive re-use 'Modernized Office Strategy', and are excited about this location in Austin." 
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EverWest Acquires Industrial Development Site


March 13, 2017

EverWest Real Estate Partners is pleased to announce the acquisition of 5350 Holabird Avenue, an 8.25 acre site located within a premier 48 acre industrial park. 
 
The asset is located immediately off of I-95 and 2,000 feet from Seagirt port terminal.  The site will allow for construction of a 140,000 square foot industrial building and will be located within a high image industrial park. 
 
Upon completion, this asset will be a state-of-the art distribution option for smaller tenants at the Port of Baltimore.  The modern Class "A" industrial building will include the following specifications: front-park/rear-load, 27 dock doors, 32' clear heights, 54x50 column spacing, ESFR, and 76 parking spots.
 
Mark Bigarel, Managing Director-Acquisitions with EverWest, comments, "EverWest is very excited that it was able to close on this site - an infill port site which we will begin to develop immediately.  We believe that the demand for a smaller Class "A" distribution building in this infill location will be highly attractive to a host of requirements in the market." 
 
EverWest acquired the 5350 Holabrid Avenue asset on behalf of a separate account with an institutional investor. 
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